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economy10-02-2022 20:24
keepit
★★★★★
(2560)
The us economy is much stronger (americans are richer) than china. The gdp is about the same but china's gdp is spread over 1.3 billion people and us gdp is spread over 300 million people.
And look at those ridiculous looking aircraft carriers that china and russia have.
10-02-2022 20:29
IBdaMannProfile picture★★★★★
(11965)
keepit wrote:
The us economy is much stronger (americans are richer) than china. The gdp is about the same but china's gdp is spread over 1.3 billion people and us gdp is spread over 300 million people.
And look at those ridiculous looking aircraft carriers that china and russia have.

Pretending to "spread out" the GDP over the population gives you nothing but an irrelevant "per capita" number that simply is not useful in any way.

Is it possible for you to pick some aspect of the economy and to just focus on that?
10-02-2022 20:35
keepit
★★★★★
(2560)
ibd,
The Chinese people have my sympathy.
The per capita number isn't irrelevant. It tells about the individual financial wealth. It isn't irrelevant and i'm not pretending. You are.

The different mindset that you perceive is the result of learning the ways of people of more than a century ago. I come to SOME of the same conclusions as you but through a different pathway. I hope that thought isn't too subtle for you.
Edited on 10-02-2022 21:16
10-02-2022 21:03
IBdaMannProfile picture★★★★★
(11965)
keepit wrote:ibd, The Chinese people have my sympathy.

... even the insanely wealthy?

keepit wrote:The per capita number isn't irrelevant.

Perhaps you weren't listening. It's totally irrelevant.

keepit wrote:Ie tells about the individual financial wealth.

It tells you about no individual's financial wealth.

So you are saying that you cannot discuss economics in any meaningful way. Gotcha.
11-02-2022 23:11
Into the NightProfile picture★★★★★
(18679)
keepit wrote:
The us economy is much stronger (americans are richer) than china.

Actually, in some ways, China can weather what it's been doing to it's economy better than we can. The Chinese government still has more assets to prop it up longer. It does face a smaller workforce, incredibly low money velocity, and capital flight.
keepit wrote:
The gdp is about the same but china's gdp is spread over 1.3 billion people and us gdp is spread over 300 million people.

GDP based on inflation really doesn't mean much. Inflation is not profit.
keepit wrote:
And look at those ridiculous looking aircraft carriers that china and russia have.

They are still function aircraft carriers. BTW, China is a proper noun. it is capitalized. Russia is a proper noun. It is capitalized.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit

nuclear powered ships do not require nuclear fuel. - Swan

While it is true that fossils do not burn it is also true that fossil fuels burn very well - Swan
11-02-2022 23:12
Into the NightProfile picture★★★★★
(18679)
IBdaMann wrote:
keepit wrote:
The us economy is much stronger (americans are richer) than china. The gdp is about the same but china's gdp is spread over 1.3 billion people and us gdp is spread over 300 million people.
And look at those ridiculous looking aircraft carriers that china and russia have.

Pretending to "spread out" the GDP over the population gives you nothing but an irrelevant "per capita" number that simply is not useful in any way.

Is it possible for you to pick some aspect of the economy and to just focus on that?

The GDP has problems anyway. Simple inflation can cause a GDP to rise.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit

nuclear powered ships do not require nuclear fuel. - Swan

While it is true that fossils do not burn it is also true that fossil fuels burn very well - Swan
11-02-2022 23:16
keepit
★★★★★
(2560)
GDP relates to economic activity. It doesn't have to be profitable to be gdp.
For example, many are now complaining about inflation and blaming the fed and the treasury for spreading money out into the economy. They're forgetting that it was done to save poor people and poor CHILDREN from food shortages. I consider it a heroic measure on the part of the fed and Jay Powell.

ibd, the per capita number is useful in that it tells you how much the chinese people are oppressed.
Edited on 11-02-2022 23:19
12-02-2022 00:00
IBdaMannProfile picture★★★★★
(11965)
keepit wrote:ibd, the per capita number is useful in that it tells you how much the chinese people are oppressed.

Nope. You can delude yourself into thinking that GDP tells you somebody's favorite color but all it tells you is an average number that applies to no one.

keepit wrote:GDP relates to economic activity.

Nope. GDP is an irrelevant average.

How many families have 2.3 children? None.
How many people have the GDP/Population of China? None.

You answered my question. You are not capable of discussing economics in any meaningful way. I'll leave you to babble.
12-02-2022 00:14
gfm7175Profile picture★★★★★
(3132)
Into the Night wrote:
IBdaMann wrote:
keepit wrote:
The us economy is much stronger (americans are richer) than china. The gdp is about the same but china's gdp is spread over 1.3 billion people and us gdp is spread over 300 million people.
And look at those ridiculous looking aircraft carriers that china and russia have.

Pretending to "spread out" the GDP over the population gives you nothing but an irrelevant "per capita" number that simply is not useful in any way.

Is it possible for you to pick some aspect of the economy and to just focus on that?

The GDP has problems anyway. Simple inflation can cause a GDP to rise.

Bingo. I tried explaining this to some morons over at the Political Forum, but they weren't having any of it.

Setting aside the manipulations that were done in order to get the latest GDP number up to 6.9% so that libtards can pretend that the economy is doing soooooo great right now, the 6.9% GDP number is based on a dollar value, not on any sort of production itself. As you've rightfully mentioned, simple inflation can cause the GDP to rise. Of course, the next claim is that inflation is "factored in", but we both know that it's not and why that's a laughable claim.

Anyway, to the uneducated masses, 6.9% "growth" is "a very good thing"... it means that "the economy is booming". Of course, the more educated among us realize that they fail to recognize the inflationary impact that is buried within this number, among other issues. For example:

20 trillion units of stuff @ $1.00/unit = $20 trillion valuation
16 trillion units of stuff @ $1.30/unit = $20.8 trillion valuation

This rough example shows a 4% INCREASE in valuation without any additional unit production... In fact, there is much LESS unit production now than there was before.

This is one of numerous issues with blindly quoting a 6.9% GDP figure and acting as if that's such a great thing and that the economy is somehow booming even though it currently isn't.

Meanwhile, I'm paying 24% MORE for health insurance premiums, 24% MORE to heat my home, 50% MORE to fuel my vehicles, and that's not even getting into groceries...
Edited on 12-02-2022 00:25
12-02-2022 03:11
Into the NightProfile picture★★★★★
(18679)
gfm7175 wrote:
Into the Night wrote:
IBdaMann wrote:
keepit wrote:
The us economy is much stronger (americans are richer) than china. The gdp is about the same but china's gdp is spread over 1.3 billion people and us gdp is spread over 300 million people.
And look at those ridiculous looking aircraft carriers that china and russia have.

Pretending to "spread out" the GDP over the population gives you nothing but an irrelevant "per capita" number that simply is not useful in any way.

Is it possible for you to pick some aspect of the economy and to just focus on that?

The GDP has problems anyway. Simple inflation can cause a GDP to rise.

Bingo. I tried explaining this to some morons over at the Political Forum, but they weren't having any of it.

Is that surprising? Those morons all think they are economic experts!

They can't even explain what government debt is. It's almost like trying to convince some contrail Chicken Little that the things are really harmless.
gfm7175 wrote:
Setting aside the manipulations that were done in order to get the latest GDP number up to 6.9% so that libtards can pretend that the economy is doing soooooo great right now, the 6.9% GDP number is based on a dollar value, not on any sort of production itself. As you've rightfully mentioned, simple inflation can cause the GDP to rise. Of course, the next claim is that inflation is "factored in", but we both know that it's not and why that's a laughable claim.

It is. It's also a cop-out way of trying to get out of the trap they put themselves into.
gfm7175 wrote:
Anyway, to the uneducated masses, 6.9% "growth" is "a very good thing"... it means that "the economy is booming". Of course, the more educated among us realize that they fail to recognize the inflationary impact that is buried within this number, among other issues. For example:

20 trillion units of stuff @ $1.00/unit = $20 trillion valuation
16 trillion units of stuff @ $1.30/unit = $20.8 trillion valuation

This rough example shows a 4% INCREASE in valuation without any additional unit production... In fact, there is much LESS unit production now than there was before.

This is one of numerous issues with blindly quoting a 6.9% GDP figure and acting as if that's such a great thing and that the economy is somehow booming even though it currently isn't.

Exactly right.
gfm7175 wrote:
Meanwhile, I'm paying 24% MORE for health insurance premiums, 24% MORE to heat my home, 50% MORE to fuel my vehicles, and that's not even getting into groceries...

Inflation is higher then they are admitting, and course the government has to buy heat, light, fuel, etc. Their costs are going up as well. They are literally trying to print their way out of their predicament. That only leads to the spiral known as the Cash Crash.

The dollar loses faith in it's value every time they try to print more to cover their own cost increase (plus extra programs added of course).

Soon, the party will be forced to come to an end. Congress is basically attempting to bury their head in the sand and hope the problem goes away.

It won't.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit

nuclear powered ships do not require nuclear fuel. - Swan

While it is true that fossils do not burn it is also true that fossil fuels burn very well - Swan




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