Despite the belief that our economy is the worst, there are markets suffering more than ours. Even though America’s unemployment rate has skyrocketed, the value of the dollar has increased to the highest it has been in the past couple of years.

The aching economies in Europe rather than in the United States have caused many repercussions in the global economy. According to CNBC, during the global recessions, the European Economic Community failed to establish effective austerity measures, or to pay back the debts owed to the European Union government for its bailout packages. Issues complicate more when all 27 countries all have to agree on one topic to improve their economical views. As a result, the Eurozone, or the 17 countries that use the Euro as their currency, experienced high inflation and an increase of prices of purchased goods, or “commodities.” The inflation rate rose from 1.9 percent in November to 2.2 percent in December 2009, according to the New York Times.

The increase of inflation only became detrimental because of the standards of the European Central Bank. At least Jean-Claude Trichet, president of the ECB, has just enough standards on the current system to keep the bank in order and the economy from totally crashing and burning. In addition, it takes the ECB a month to notice significant set backs in the inflation curve. To prevent this from happening in the future, the ECB should develop a warning system before the inflation rates reach alarming heights. In addition, all the countries in the EEC will have to work together to make fresh start, according to the Associated Press.

In comparison, the United States’ economy is much better off. Despite our supposedly horrible unemployment rate, the European Commission announced July that the current unemployment rate in Europe is 9.5 percent (versus the United States 9.1 percent according to tradingeconomics.com Sept. 2).

In addition, CNN Money reported that unleaded gas stock has dropped 7.5 percent in the past month in the United States. Because the commodity gas is traded with American dollars and the American economy is more efficient and stable than the Eurozone, the gas prices will continue to fall until an equilibrium is reached between the two markets. However, our economy is in a good place because another economy is struggling. And that just makes cent$. #