American Economics Thread

[steel21]

Sad! Imagine giving money to your enemies...

Nah, no need to get all pessimistic.

I tried to talk my mother in law into buying a NIO ET7 instead of a MB GLE hybrid. While I got her to switch over to a Huawei from an iPhone, the larger prestige items will take a while.

It is natural for the Chinese in the boomer generation to have some persistent perceptions. Shit changed and improved so fast, the software is bound to lag a bit.

However, if you look at the greater trend as a whole, Chinese brands are moving up a at pace that even I'm unaccustomed to. We have GE monograms in the kitchen, and yea, its essentially Haier.

Chef knife? Wustof or Shun, nope the Chinese knifes are cheaper, prettier and come with better specs.

Anything you look at, things are only accelerating. You only have to look back 5 years to see the trend.

 

[sndef888]

Nah, no need to get all pessimistic.

I tried to talk my mother in law into buying a NIO ET7 instead of a MB GLE hybrid. While I got her to switch over to a Huawei from an iPhone, the larger prestige items will take a while.

It is natural for the Chinese in the boomer generation to have some persistent perceptions. Shit changed and improved so fast, the software is bound to lag a bit.

However, if you look at the greater trend as a whole, Chinese brands are moving up a at pace that even I'm unaccustomed to. We have GE monograms in the kitchen, and yea, its essentially Haier.

Chef knife? Wustof or Shun, nope the Chinese knifes are cheaper, prettier and come with better specs.

Anything you look at, things are only accelerating. You only have to look back 5 years to see the trend.

Yeah its true. Here in southeast asia Chinese products went from being cheap toys and crappy knockoffs to insane quality for low prices. IMO, China needs to work on its image so that it can command higher prices.

China's products have $20 in quality but are sold for $5, while nicely marketed western brands have $10 in quality but sell for $20.

 

[zbb]

Nah, no need to get all pessimistic.

I tried to talk my mother in law into buying a NIO ET7 instead of a MB GLE hybrid. While I got her to switch over to a Huawei from an iPhone, the larger prestige items will take a while.

It is natural for the Chinese in the boomer generation to have some persistent perceptions. Shit changed and improved so fast, the software is bound to lag a bit.

However, if you look at the greater trend as a whole, Chinese brands are moving up a at pace that even I'm unaccustomed to. We have GE monograms in the kitchen, and yea, its essentially Haier.

Chef knife? Wustof or Shun, nope the Chinese knifes are cheaper, prettier and come with better specs.

Anything you look at, things are only accelerating. You only have to look back 5 years to see the trend.

Which Chinese knife brands do you recommend? I'm in the market for some new knives. Thanks!

 

[gadgetcool5]

Amazon’s sales up 44% as US economy soars 6.4% in first quarter​

Amazon’s sales increased 44% to $108.5bn in the first three months of the year as the company’s pandemic boom continued into 2021.

The sales figures from the online shopping and web services giant came after the release of slew of positive economic reports that suggest the US is shaking off the worst of the pandemic recession.

Amazon made a profit of $8.1bn for the quarter – $2.7bn a month – beating analysts’ forecasts after a series of better than expected results from tech companies and others.

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[hashtagpls]

Anyone follow crypto finance?
Bitcoin's been taking a hit but the rest of the alt coins like ETH and ripple have been going up as americans are hedging against rising inflation- in fact, you can already see the effects of inflation with the rise in petrol prices.
@voyager1

 

[AssassinsMace]

Only 6.4%? When you hear the naysayers complain about China's double-digit growth, they always point to that's compared to last year during the pandemic. 6.4%...?

 

[gadgetcool5]

Only 6.4%? When you hear the naysayers complain about China's double-digit growth, they always point to that's compared to last year during the pandemic. 6.4%...?

China's growth was compared to a year ago, but this is for just the quarterly rate. So the base comparison is Q4 2020.

 

[AssassinsMace]

China's growth was compared to a year ago, but this is for just the quarterly rate. So the base comparison is Q4 2020.

They were talking about China's quarterly growth...

 

[gadgetcool5]

They were talking about China's quarterly growth...

China's economy didn't grow at an 18% annual rate between the fourth quarter of 2020 and the first quarter of 2021. Rather, it was 18% larger in the first quarter of 2021 compared to the first quarter of 2020. This is how China always reports its numbers and always has. It reports it every quarter, but it reports it at an annual rate. News reports sometimes use the word "quarterly" but what they are referring to is a year-over-year figure.

The US reports differently. The 6.4% isn't saying the economy was 6.4% bigger in Q1 2021 compared to a year ago. It's saying it grew at a 6.4% annual rate for the quarter Q1 2021 compared to Q4 2020, or that it was 1.6% bigger in the Q1 this year compared to the previous quarter, since 1.6 x 4 = 6.4. This is how the US always reports it as well.

What was China's actual quarterly growth?

When compared with the last three months of 2020, the Chinese economy expanded just 0.6% in the first quarter of 2021, slowing from a newly revised 3.2% quarter-on-quarter GDP increase in the fourth quarter of 2020, according to data released Friday by the National Bureau of Statistics.”

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The 0.6% quarter-on-quarter growth x4 is 0.6 x 4 or 2.4% at an annual rate. This 2.4% is what compares directly with the 6.4% US figure.

 

[vincent]

Only 6.4%? When you hear the naysayers complain about China's double-digit growth, they always point to that's compared to last year during the pandemic. 6.4%...?

Plus it's annualized