GDP Decline in Europe during the Great Recession

Telling graph from the American Thinker’s Graph of the Day feature for 5/29/2010 regarding Europe’s GDP decline during the Great Recession.  Socialism ain’t all that.  Paul Krugman was just a bit off as well…

“This gets at a theme I’ve written about in the past, and will surely return to: a lot of the American image of Europe as a moribund economy is, like, so 1990s. They’re doing better now – and we’re doing worse.”  Paul Krugman, January 2008.

Declines in Real GDP (%) During the Great Recession

Source:  IMF World Economic Outlook, April 2010.

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