Eclipse Output Problem

Here is the exact problem I am having step by step.

1. Open Eclipse (Juno)
2. File -> New C++ Project -> Name Project Here
3. Project Type -> Executable -> Empty Project -> MinGW GCC -> Finish
4. New C/C++ Source File -> Name Source File Here
5. Type in the following code:

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#include <iostream>
using namespace std;

int main(){
cout << "Hello World!" << endl;
return 0;
}


6. Save -> Build All -> Run
7. No Errors, no problems except there is no output.

I can make individual projects display output by going to Project -> Properties -> C/C++ Build -> Settings -> Linker flags -> Typing in the following: -static -> Hit OK -> Save -> Build All -> Run -> Displays output correctly.

How can I make this work for ALL projects without having to do this to each and every project? Thanks a lot, I'm sure you answering this will also give many other Eclipse newbies like me a big relief.
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