Whyt is t¨he US economy so much successful tyhan other economies
Why does the us economy grow so much faster tyhan other western economies for example stagnating Europe and reduce its unemploument and inflation faster.
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Northwest · M
It's not that China, India, the Middle East, Russia, Ukraine, etc. do not have smart and entrepreneurial people, it's that the best and brightest, from all these countries, are choosing to join the best and brightest from around the world, to make the US the center of economic power.
It creates a massive momentum thats just too difficult for anyone to beat.
It creates a massive momentum thats just too difficult for anyone to beat.
whowasthatmaskedman · 70-79, M
@Northwest And yet China is on the far side of the moon now, while America finally gets a couple of astronauts to the space station under their own power..😷
Northwest · M
@whowasthatmaskedman
That is quite the feat. They landed a machine on the far side of the moon. That was sarcasm.
The US landed humans on the moon, nearly 55 years ago, and has been landing machines on the moon longer.
Chinese best scientists are choosing the US first. Not bragging about it, or belittling other countries. Perhaps other countries, China included, will get a shot at competing, when they enable a melting pot, but they will not, and neither will Russia or Japan.
This is what makes the US the leader it is.
And yet China is on the far side of the moon now, while America finally gets a couple of astronauts to the space station under their own power..😷
That is quite the feat. They landed a machine on the far side of the moon. That was sarcasm.
The US landed humans on the moon, nearly 55 years ago, and has been landing machines on the moon longer.
Chinese best scientists are choosing the US first. Not bragging about it, or belittling other countries. Perhaps other countries, China included, will get a shot at competing, when they enable a melting pot, but they will not, and neither will Russia or Japan.
This is what makes the US the leader it is.
whowasthatmaskedman · 70-79, M
@Northwest America did all those things. When they were the greatest nation in the world. The Romans conquered Britain. (Well.. the half worth having) But its been a while..😷
Northwest · M
@whowasthatmaskedman
America, continues to do these things. You could arguer that we should have continued landing people on the moon, but there are a number of reasons why this did not happen.
It's not like we stopped innovating in this space, the opposite is true. The comparison to the Roman Empire is a false equivalence.
Despite all the rhetoric, the USA continues to be the world's greatest nation. If you have any doubt, check out who's emigrating to the US. Hint: any person who can get a Visa. from just about anywhere around the world.
America did all those things.
America, continues to do these things. You could arguer that we should have continued landing people on the moon, but there are a number of reasons why this did not happen.
It's not like we stopped innovating in this space, the opposite is true. The comparison to the Roman Empire is a false equivalence.
Despite all the rhetoric, the USA continues to be the world's greatest nation. If you have any doubt, check out who's emigrating to the US. Hint: any person who can get a Visa. from just about anywhere around the world.
whowasthatmaskedman · 70-79, M
@Northwest This is one we just arent going to agree on. Maybe its that my lens is economic and yours has some other focus. But America has been diluting itself since the seventies. and is over the cliff economically now..😷
independentone · M
@whowasthatmaskedman The United got the better German Scientists than Russia after WWII and China didn't get any.
Northwest · M
@whowasthatmaskedman Yet, the USD is at historical highs, and I live in the epicenter of America's melting pot. There's nothing to disagree on, because I am a personal witness to the Chinese, Indian, Pakistani, Korean, Russian, and even my 2 new Australian neighbors, who came here to seek fame and fortune and they're not pursuing it elsewhere.
Your economic assumptions are based on the US debt, but when you compare total debt to GDP, the picture changes/
70/25.5 = 2.75 (USA)
47.5/18 = 2.65 (CHINA)
And China is leading the pack in how fast it's growing it's debt. So, while I have deep insight into technology. this is about economics.
Your economic assumptions are based on the US debt, but when you compare total debt to GDP, the picture changes/
70/25.5 = 2.75 (USA)
47.5/18 = 2.65 (CHINA)
And China is leading the pack in how fast it's growing it's debt. So, while I have deep insight into technology. this is about economics.
independentone · M
@Northwest I do ok, but still my grocery bill is up 35% along with almost all other monthly bills. I can buy prescription medicine much cheaper in Europe than I can here.
It has become nearly impossible to even purchase fire insurance in So Cal, which is causing the home builders to not start new projects.
I have, and will continue to adapt to the economic situation in this country, but I certainly don't think Biden is helping one bit.
It has become nearly impossible to even purchase fire insurance in So Cal, which is causing the home builders to not start new projects.
I have, and will continue to adapt to the economic situation in this country, but I certainly don't think Biden is helping one bit.
whowasthatmaskedman · 70-79, M
@Northwest OK. You fell for the old four card flush of economics. A snapshot V a trend..Chinas numbers are a snapshot at a vulnerable moment and please note as a centralised economy they can literally flush their internal economy overnight. Where Americans position is a progressive, accellerating deterioration of the nation living beyond its means and unable to stop the rot.. In short, China can trade out of this and afford the austerity measures to do so. America cant. It doesnt have the exports or capacity.😷
Northwest · M
@independentone I was addressing the Macro-level question.
At the micro-level, things are different. Inflation is hurting the average Joe where it hurts: groceries, rent, energy and healthcare.
It's easy to blame at the top, but then you will need to accept that the entire world is running through an incredibly bad streak of worldwide leaders as these are global issues, not unique to the USA, or recognize that the fallout of the Pandemic, coupled with geopolitics (Putin invasion of Ukraine, the Middle East, etc), is casing the entire work to go through massive turbulence, that no individual chief executive can do a thing about.
At the macro level, we're faring better than most if not all.
At the micro-level, things are different. Inflation is hurting the average Joe where it hurts: groceries, rent, energy and healthcare.
It's easy to blame at the top, but then you will need to accept that the entire world is running through an incredibly bad streak of worldwide leaders as these are global issues, not unique to the USA, or recognize that the fallout of the Pandemic, coupled with geopolitics (Putin invasion of Ukraine, the Middle East, etc), is casing the entire work to go through massive turbulence, that no individual chief executive can do a thing about.
At the macro level, we're faring better than most if not all.
Northwest · M
@whowasthatmaskedman
You should re-read what I posted. China's Debt number is not a snap, it's cumulative, and it's accelerating, so the new trend will make it worse.
Sorry, but this is an economics fantasy. China has been attempting that for the past 6 years or so, and they've failed miserably.
The only reason Xi remains in office, is that he fulfilled the social contract of zero below poverty line. A quick trip to Shanghai will show you what that means.
This is not the 1970s or 1980s in China, and there's a new "norm" that precludes Maoist suffering. The elite will blot, on a nano-second, and retreat to their mansions in Washington State, British Columbia, and LA, the second their economic power is curbed.
A snapshot V a trend
You should re-read what I posted. China's Debt number is not a snap, it's cumulative, and it's accelerating, so the new trend will make it worse.
they can literally flush their internal economy overnight
Sorry, but this is an economics fantasy. China has been attempting that for the past 6 years or so, and they've failed miserably.
The only reason Xi remains in office, is that he fulfilled the social contract of zero below poverty line. A quick trip to Shanghai will show you what that means.
This is not the 1970s or 1980s in China, and there's a new "norm" that precludes Maoist suffering. The elite will blot, on a nano-second, and retreat to their mansions in Washington State, British Columbia, and LA, the second their economic power is curbed.
whowasthatmaskedman · 70-79, M
@Northwest As I said earlier. We are not going to agree on this. Chinas outcome is not ideal. Nor is any other nations post Covid. However, America was on life support and teetering on recession before covid started and the levers every country is pulling now to recover ar pulled harder in the us and and no longer functioning without the cracks showing. Possibly we should both sit back and wait for the result..😷
whowasthatmaskedman · 70-79, M
@Northwest But that recession is being hidden by the de facto devaluation of the currency. It looks like inflation if viewed fron up close. But asset prices continue to rise, to protect the rich..😷