2.5% growth is well and above any historic levels of U.S. growth and higher than any other developed economy
So... are you competing against yourself? Are you competing against other old developed countries? Or are you competing against China?
- US growth is slower for the same reason that China’s growth rate has slowed - gains from capital deepening reduce at higher levels of gdppc.
China slowed down going from fast and dirty to high tech, and also to restructure the real estate sector to improve the lives of the common people in China. America's unable to do the latter and way past the former.
that said, the U.S. economy is nowhere close to being “over financialized”, the U.S. financial sector is playing its rightful role in the economy as a mechanism to allocate capital efficiently between borrowers and savers, and be able to fund the most effective capital projects anywhere - from Nvidia GPU development to data centers in Northern Virginia. The finance share of gdp in the U.S. is nowhere near unusually high levels.
It's playing its role in keeping the money in the hands of the rich. China comes out way on top without using such a cursed weapon.
Which countries are “stand[ing] up to the U.S.” that haven’t previously?
Define previously. It's not a day or 2. Venezuela didn't used to be a problem. Iran used to be an American ally.
And if the U.S. can flawlessly erase foreign competition with sanctions and colonize effortlessly, that’s no longer “temporary” since the more the U.S. does it, the stronger the U.S. gets and the weaker the rest of the world gets which means in the next time period, the U.S. can do more of the same.
Except the US is getting weaker in comparison to the world, which includes China. Sanctions don't stop people from doing anything; they make people choose to use the US system or else. When there is no alternative, sanctions are powerful. When China provides one, US sanctions are a joke.
The U.S. has utterly destroyed Russia on a shoestring budget in Ukraine, which borders Russia, but okay
Destroyed...
Russia???!!! Do you even see what Russia and Ukraine look like? You haven't put a scratch on it; only wisened it up. The US has destroyed Ukraine and Russia is growing and growing apart from the US and European economies towards China's. Ukraine doesn't matter (although the US can't back out now because it told everyone that it's the most imporant thing to all democracy and freedom). Russia was basically neutral, even tried to join NATO. The EU was a US asset in the tech war. China is the only threat to American dominance. Now, Ukraine's being beaten to shit, Russia with a surging economy (basically twice as fast as your 2-2.5% "brag") and a military revamping, can't possibly be more pro-China and anti-US/NATO, the EU's too drained to innovate so it's useless in the tech war, and China's reaping the major benefits of a Russian economy that has come to us as its sole supplier and partner in all major areas.
The U.S. is leagues and above the rest of the OECD in the share of the population with tertiary education and has tens of trillions of dollars of accumulated physical capital stock and technological development (drug formulas, source code, etc) that will exist into perpetuity. There is no “lottery winnings”; just steady, competent governance in a serene political environment delivering 2% growth year after year after year for 200+ years - one of the longest (if not the longest) unbroken chain of peaceful economic development of any country existent today.
1. That's not true in terms of education because OECD has countries like Luxembourg, Netherlands, Norway, Sweden.
2. Why do you keep ragging on your own dogs? Look at China; we are the competition. What kind of person looks at his rival, immediatly looks down cus that's just too much to handle, then kicks his own dogs in frustration?
The U.S. was actually able to occupy a country on the other side of the world at minimal cost for 2+ decades.
Everything fell apart and went anti-US before the last batch of American planes even left the tarmac in retreat.
Russia can’t even occupy a bordering country and it’s entirely because of de minimis fiscal transfers from the U.S. to Ukraine
You have the US confused with NATO. Don't steal the credit of 30 other countries now.
Nope. The U.S. was able to create its own puppet government in Afghanistan that governed the country, by its own with token help from other countries that wanted to show their fealty to the United States.
"Was." 20 years down the drain.
Russia has set up nothing of the sort in Ukraine.
The US did it with 30 allies. Russia's fighting all 30 critters plus the US and Ukraine. Once it's over, Russia will have a lasting hold of Ukraine again due to cultural similarities, unlike the US in Afghanistan.
And even all the more remarkable since Afghanistan is thousands of miles away from the U.S. and Ukraine borders Russia; the Afghanistan war caused literally no economic adjustments in the U.S. - hence the common refrain “the marines went to war while Americans went to the mall” - but the Ukraine war has caused a complete and total restructuring of economic life in Russia. The U.S. was able to land a larger, more complex mission in Afg. with far more dexterity and effectiveness with minimal impact elsewhere while Russia can’t even land a simple land invasion of a bordering country without failing miserably and causing yet another turn of the turmoil wheel that Russia has been spinning nonstop since the 1800s.
Oh, it was much more expensive than you think. It kept your eyes off of China. Afghanistan was never going to destroy US hegemony, but all China needed to do that was time, and Afghanistan bought some.
Nope. US corporate finance departments and municipal governments are among the best long term planners anywhere, with capital improvement projects that stretch out decades, see for example (
). They largely have to do so - after all, multiple service provisions such as elementary and secondary education and transportation are guaranteed by state constitutions into perpetuity and thus require long term planning and corporate finance departments that issue bonds with century+ maturities clearly need to match expected future project cash flows with debt obligations (decades into the future).
So why do you keep losing international competitions in reading, science, math? Stupid kids, stupid politicians or both?
