Oh sorry, not relevant to you. You can run along now.
Anyway, for those with positions in crypto, have a gander at this:
American Economics Thread
- Thread starter Bernard
- Start date
Anyway, for those with positions in crypto, have a gander at this:
U.S. job openings hit another record high in June as labor market shows lots of strength
The number of job openings rose to a record 10.1 million in June from a revised 9.5 million in the prior month, That’s the fourth straight all-time monthly high.Economists surveyed by Econoday expected job openings to rise to 9.29 million in June.
Big picture: The labor market is firming and businesses continue to seek workers. with 943,000 new nonfarm payroll jobs created and the unemployment rate dropping sharply to 5.4%. The job-openings report is released with a one-month lag.
D
Deleted member 15949
Guest
Money printing is free and the US economy is booming and is outgrowing China
D
Deleted member 15949
Guest
Oh noes, not financial stability and AML. The horror. After all, even if the USD lost reserve status, the US economy would shrink *checks notes* 2%. Oh okay, yeah.
manqiangrexue
Brigadier
That's not a big picture view. That's only a direct 2021 Q2 year on year comparison. The US economy recessed for 3 quarters and this 2021 Q2 was the recovery quarter compared with the worst quarter (-9.1%) of 2020, giving it an extra boost. For China, it recessed for 1 quarter: Q1 2020, so the comparabe boost quarter was Q1 2021, which saw over 18% growth. All things considered, it's obvious by the numbers that China is outgrowing the US.
D
Deleted member 15949
Guest
China Q/Q_4 growtth was 7% in 2Q while the US was 12%.
manqiangrexue
Brigadier
It's a year on year comparison. The US is 12% because it's compared to its weakest quarter of 2020, which is Q2. By Q2 2020, China's recovery had aready started so this year compared to the last, it won't be as drastic. For China, the most drastic is Q1 2021 vs Q1 2020, and the number on that is over 18%. It's missing the picture/story to directly compared Q2 data year on year because China's economy is basically 1 quarter faster than the US in pandemic terms. China's Q1 2021 over Q1 2020 data (18.3%) should be compared to America's Q2 2021 over Q2 2020 data (12.2%) and even then, it's still biased against China because the US economy recessed more in Q2 2020 (9.1%) than China's did in Q1 2020 (6.8%) meaning it takes more growth in the US now just to make up for extra lost ground 1 year prior. In summary, the pandemic caused to US to take a bigger, longer dive than China, and in recovery, China rose faster and sharper than the US.
D
Deleted member 15949
Guest
Yeah, it's a testament to how good money printing is that US output and employment snapped back faster than China
manqiangrexue
Brigadier
How can it be interpreted that way? The US economy dove deeper into recession than China did (-9.1% for the US, -6.8% for China), stayed in recession for longer (3 quarters for the US, 1 quarter for China), and recovered more slowly and mildly than China did (12.2% for the sharpest point of rise for the US vs 18.3% for China). China's 2021 Q2 7.9% is compared to a 2020 Q2 3.2% while America's 2021 Q2 12.2% is compared to a 2020 Q2 of -9.1%.
And I expect America's Q3 2021 to be higher than China's Q3 2021 as well because the growth this year will be compared to a -2.9% for the US but a positive 4.9% for China from the year prior. Overall, China's growth is much faster and trajectory is much smoother without doubt.
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