The Effects Of European Uncertainty.

Yesterday I had an interesting political experience and something I had never done.

So I’m driving south of I-93 listening to NHPR “The Exchange” and the subject was: “The Effects of European Uncertainty.” There were two I’d term Keynesian, Central Banking economics professors on from Dartmouth and Norwich University. They started out the hour long program with a discussion about Cyprus and the economic and financial issues there. They made some quality arguments about what is and what could be the result of the implosion and banking failures in Cyprus and what this means.

Then the discussion drifted over into the European Union (EU) and negative issues that are affecting the U.S. and New Hampshire. I didn’t think their arguments were valid or supportable with facts so I decided to try and challenge their position(s). I figured I’d never get in.

“Hello please state your name and question.” I did stating the current market price of the Euro Currency Unit against the U.S. Dollar (up 22 points), the declining price of gold and long-term U.S. debt instruments like the T-Bond and the T-Note.  The Euro is not only getting stronger but the European economy might actually be improving faster than that of the United States. “This is a good question, try and shorten it I’ll try and get you on the air.” The voice said. Again I figured I’d never get in.

“Our next caller is from Bethlehem.”Hello your on the air.” It was Laura Knoy.

I’m not going to recite all the details but I think I did okay. I went up against two full-time academians that probably spend some 40-50 hours a week studying global economic policy and finance. And both of their responses to my position-- unemployment statistics in the European Union (EU) which are very high. I didn’t try and argue with them on this point, but unemployment statistics aren’t exactly the leading indicator of overall economic prosperity or bust conditions.

"Trade the facts not the ideas." I said to them.  

I think some of the other New Hampshire callers had valid points too which I also think builds on my position(s) that the EU isn’t as bad as they say it is.

But it was still pretty exciting to be on the air!