American Economics Thread
- Thread starter Bernard
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Long covid is fake?
"Millions of people who have gotten Covid-19 and survived are finding that a full recovery can be frustratingly elusive. Weeks or even months after seemingly recovering from even a mild case, many patients still confront a wide range of health problems. As researchers try to measure the of what’s being called “,” a growing number of specialized, are opening to handle the patients. The scale of the pandemic and persistence for some of Covid’s disabling effects mean the economic pain and drain on health resources could continue well after the contagion ends."
"Millions of people who have gotten Covid-19 and survived are finding that a full recovery can be frustratingly elusive. Weeks or even months after seemingly recovering from even a mild case, many patients still confront a wide range of health problems. As researchers try to measure the of what’s being called “,” a growing number of specialized, are opening to handle the patients. The scale of the pandemic and persistence for some of Covid’s disabling effects mean the economic pain and drain on health resources could continue well after the contagion ends."
US GDP: $20 trillion (6% of that is $1.2 trillion)
China GDP: $14 trillion (8% of that is $1.12 trillion)
Difference: $0.08 trillion
Growth rates are exponential, speeds are linear
Lol. Just sort of response I expect from someone who is an economic illiterate student. Come on are you even an economic student, let alone a degree holder. This is the kind of mistakes my student would make. If my students have done that, I'll give then an F.
So if U.S. earns $100 and grow at 6% next year US economy will be $106.
Where as China earn $50 but growth rate of 8% then China only grows to $54.
Hay Presto. China's absolute growth is only $4 compares to U.S. $6
Therefore a win for U.S.! Such a simpleton. If that's the case, there's not much point in any country trying to catch up with the mighty U.S. economy. Right?
But before you looking smug. For your information. China's economy was 20 times smaller than the US before the reforms. And it's due to these small incremental increases that has allowed China to come within 80% of the size of the U.S. economy and counting.
So what you are actually doing as you have shown so many times here, is looking at things statically. And as I say to you many times before. It is far more dynamics than you could imagine.
Finally, the U.S. growth rate of 6% or whatever that you believe (giving that you crow so much about the current U.S. growth rate) has never been the long term trend rate of the U.S. economy. The long term trend rate is 2.5 to 3%. Why do think that is? No I'll not give you a clue. You can use your Google economic school to help you with that. Answers on the post card.
Guys I hope this tell you something. Debt is not too bad providing it's not acting as a drag on the economy. And the U.S. economy is approaching that point.
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Useful graph. When the time comes to dump USD, it's useful to see that there will be enough suckers to offload those USD.
There are more then enough countries in Eurasia that have dollar denominated debt. The need to offload those dollars cheaply might be a blessing for those nations kind of like a jubilee moment.
This guy isnt just sleepy he is also stupid
Money is nothing more than a human construct that is supposed to loosely represent some form of accounting/tally of the real resources and useable energy out there for which society can garnish to do physical work in producing good and services...
Sure, US gov can just print to infinity and Americans can just sit back and collect a stimulus/UBI exponentially, forever....
Guess he must have flunked his physics class and not only believes in free monies but also perpetual free energy machines too...
At the end of the day its not the pieces of paper that matter or the bits on a financial or banking server representing bookkeeping entry but rather the useable energy and low entropy from the standpoint of 2nd law of thermodynamics
US is just like the guy stacking up more credit card debit right before he goes bankrupt... America can cheat the world for a bit but ultimately in the long run nothing can cheat the laws of physics
D
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What if I told you that US productive capacity is far from being reached so money-printing/additional demand isn't inflationary?
Given that global energy production peaked in 2019, the only way that I see this possible is if US through its Dollar weaponization (petrodollar hegemony and USD as global reserve currency) continued to squeeze/tax the world that much harder... basically in a shrinking zerosum where pie gets smaller the only way for the current global hegemon to increase or even maintain its real standard of living for its citizens is to cannalbalize the rest of the world...
Coincidentially, the COVID had the effect of a broad categorical "artificial demand destruction" suppressing consumption worldwide and now with the never ending variants and US vaccine "diplomacy" it seems the third world and other developing countries are all left out to dry so that US productive (predatory harvesting) capacity can continue to go on for a little while longer....