American Economics Thread
- Thread starter Bernard
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I don't know if this topic has been discussed or debated before in this thread or forum, but despite being a total n00b in economics, I am really curious about the details and extend of this topic.
There are some who often claimed that the US has been deliberately using the wrong data tabulation and calculation methods in order to inflate the American GDP figures into becoming something larger than it actually is.
This is also related to how the US has been suppressing the inflation rate in order to make the official figures look lower than it actually is, etc etc.
For instance, the actual figures of US GDP, instead of the officially tabulated 24 trillion USD in 2022, is actually around half or even less, i.e. 10 or 12 trillion USD.
References (although these does not mention the actual figures or anything, as I sources the figures above from Quora postings):
Can anyone kindly explain these in more layman terms? Like, are these claims true? And what are the true extend of these scenarios that are playing out?
How does this finding relates to the GDP figures of other countries, such as China?
Thank you.
There are some who often claimed that the US has been deliberately using the wrong data tabulation and calculation methods in order to inflate the American GDP figures into becoming something larger than it actually is.
This is also related to how the US has been suppressing the inflation rate in order to make the official figures look lower than it actually is, etc etc.
For instance, the actual figures of US GDP, instead of the officially tabulated 24 trillion USD in 2022, is actually around half or even less, i.e. 10 or 12 trillion USD.
References (although these does not mention the actual figures or anything, as I sources the figures above from Quora postings):
Can anyone kindly explain these in more layman terms? Like, are these claims true? And what are the true extend of these scenarios that are playing out?
How does this finding relates to the GDP figures of other countries, such as China?
Thank you.
Last edited:
Hendrik_2000
Lieutenant General
There is no such thing as free lunch
Steve Hanke: Like all sanctions, those being imposed on Russia are economic weapons that are being deployed in what is, in fact, an undeclared war against Russia. And like all sanctions, they have proved to be totally ineffective in accomplishing their stated goal of changing Russia’s behavior.
Sanctions have never won a war. And if that’s not bad enough, sanctions have been, as economic sanctions often are, counterproductive. Indeed, instead of toppling Vladimir Putin’s regime, the sanctions have done what they typically do: they have created a “rally ’round the flag effect,” which has further entrenched Putin and his associates.
Steve Hanke: Like all sanctions, those being imposed on Russia are economic weapons that are being deployed in what is, in fact, an undeclared war against Russia. And like all sanctions, they have proved to be totally ineffective in accomplishing their stated goal of changing Russia’s behavior.
Sanctions have never won a war. And if that’s not bad enough, sanctions have been, as economic sanctions often are, counterproductive. Indeed, instead of toppling Vladimir Putin’s regime, the sanctions have done what they typically do: they have created a “rally ’round the flag effect,” which has further entrenched Putin and his associates.
Jesus christ.
A Boeing internship pays $29/hr and thats not even one of the higher paying ones.
PiSigma
"the engineer"
That's pretty close to how much I pay my coop/interns. Going rate is around $75k/year for engineering students (undergrad) in o&g these days.
Yes, this topic had been discussed before.
Refer to:.
News on China's Scientific and technological development, Post#11,733
Exactly this. It's all about productivity. Liberals and more specific neoliberal economists are constantly trying to disconnect the value of a product or service from the so called human craftmanship. Thats rediculous and reactionary. And counterproductive. Wtf? Why? A 1.3 billion people nation mobilised under a sober and methodical and effective governing system is going ahead faster than average westerner can imagine. Many lols They are producing RMBs much faster than you can think while west is indebting itself straight to crash, because of stubborn, mafia style, luben aristocrat governing. Cheers. They also tend to forget how effective and productive was the soviet style, you know, the one which gave USSR the title of a supapowa. Russian economists are familiar to marxist economics inherited by a many years dictation. Putin nationalised the massive collective farm owned by Pavel Grudinin, the presidential candidate of CPRF at Russian elections of 2019 obviously to supply the invasion on Ukraine too many lols.