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U.S. GDP has tripled the last 20 years, do you think the country is 3x better than it was?
Posted on 5/29/25 at 10:36 am
Posted on 5/29/25 at 10:36 am
23
Posted on 5/29/25 at 10:37 am to RaoulDuke504
Numbers in the air that have very little tangible impact on the average American’s daily life
Posted on 5/29/25 at 10:38 am to Rrrrroger
quote:
Numbers in the air that have very little tangible impact on the average American’s daily life
So why is it a metric to base the power of a country’s economy?
Posted on 5/29/25 at 10:40 am to RaoulDuke504
quote:
So why is it a metric to base the power of a country’s economy?
It's not a meaningless number by any stretch but it doesn't appear that life has gotten much better for the middle class on down
Posted on 5/29/25 at 10:40 am to RaoulDuke504
$17.84 trillion twenty years ago is worth $30 trillion today.
So not quite doubled.
So not quite doubled.
Posted on 5/29/25 at 10:41 am to Powerman
quote:
It's not a meaningless number by any stretch but it doesn't appear that life has gotten much better for the middle class on down
Are you serious?
Drowning in debt
Can’t afford a home
Stagnation in wages
Cities are in debt
Posted on 5/29/25 at 10:42 am to RaoulDuke504
quote:
Are you serious?
Drowning in debt
Can’t afford a home
Stagnation in wages
Cities are in debt
Kinda my point
These GDP gains have improved the lives of a very small % of the population
Posted on 5/29/25 at 10:47 am to RaoulDuke504
Some people think price controls is a socialist economic policy. I agree with them.
The federal government has allowed a private bank to put prices controls on the biggest commodity in the U.S. economy, our money. They control the price of money through a stated goal of decreasing it's value by 2% per year by controlling the supply.
The federal government has allowed a private bank to put prices controls on the biggest commodity in the U.S. economy, our money. They control the price of money through a stated goal of decreasing it's value by 2% per year by controlling the supply.
This post was edited on 5/29/25 at 10:48 am
Posted on 5/29/25 at 10:49 am to RaoulDuke504
Real Per Capita Gross Domestic Product-St. Louis Fed[
Two problems: (1) that is nominal GDP, so it doesn't account for inflation over time, and (2) population has grown over that period as well. Real (inflation adjusted) per capita GDP grew from about $50,000 in 2000 to about $69,000 in 2025, or about 1.3 percent per year over that time period.
Two problems: (1) that is nominal GDP, so it doesn't account for inflation over time, and (2) population has grown over that period as well. Real (inflation adjusted) per capita GDP grew from about $50,000 in 2000 to about $69,000 in 2025, or about 1.3 percent per year over that time period.
This post was edited on 5/29/25 at 10:52 am
Posted on 5/29/25 at 11:06 am to RaoulDuke504
Waste and theft among the govt has also probably tripled, if not more, over the last 20 years.
Posted on 5/29/25 at 11:09 am to RaoulDuke504
Inflation has grown ~64% in that 20 years, that cuts down the perceived growth a bit.
Posted on 5/29/25 at 11:10 am to RaoulDuke504
US debt was less than 5 trillion in 2000. It’s $36 trillion today.
This post was edited on 5/29/25 at 11:11 am
Posted on 5/29/25 at 11:12 am to RaoulDuke504
You need to touch grass brah
Posted on 5/29/25 at 11:50 am to RaoulDuke504
quote:
So why is it a metric to base the power of a country’s economy?
Because it measures overall economic output
Posted on 5/29/25 at 11:56 am to RaoulDuke504
America's innovation and growth has fueled an endless number of developments in all areas: agriculture, tech, medicine, etc.
I do think it's fair to question whether what we're doing to get that growth and keep being the innovative entity is worth it when the rest of the world will share in the spoils anyway.
I do think it's fair to question whether what we're doing to get that growth and keep being the innovative entity is worth it when the rest of the world will share in the spoils anyway.
Posted on 5/29/25 at 11:57 am to Powerman
quote:
It's not a meaningless number by any stretch but it doesn't appear that life has gotten much better for the middle class on down
That average lifestyle of a middle class person now vs 90s is much better
Now a lot of that is due to them being in debt
Posted on 5/29/25 at 11:58 am to RaoulDuke504
Dudes with dongs weren’t allowed to compete against women for NCAA National Championships in 2005, so hard to say we’re 3x better now.
Posted on 5/29/25 at 12:15 pm to RaoulDuke504
quote:
So why is it a metric to base the power of a country’s economy?
Economic activity isn’t the only metric for whether a country is “better” (however you’re defining it).
China’s economy is massive compared to what it was a generation ago…they also put nets around some of their factories to prevent people from committing suicide.
This post was edited on 5/29/25 at 12:16 pm
Posted on 5/29/25 at 12:24 pm to Flick007
Inflation is not that bad really in last 20 years.
1965 to 1985 it increased 242%
1985 to 2005 it increased 82%
2005 to 2025 it increased 64%
1965 to 1985 it increased 242%
1985 to 2005 it increased 82%
2005 to 2025 it increased 64%
This post was edited on 5/29/25 at 12:28 pm
Posted on 5/29/25 at 12:27 pm to RaoulDuke504
And people were in debt in 2005. I'd bet you're over 50, and everything was better in the past right?
Truth is there are so many factor that go into this, that no one here unless they have a PhD in economics and studied this stuff for a decade, can really tell you if it was better or not then vs now as there are multiple factors such as GDP per capita, average earnings and median earnings, home prices, interest rates, inflation, average and median debt per family. A lot goes into it.
Truth is there are so many factor that go into this, that no one here unless they have a PhD in economics and studied this stuff for a decade, can really tell you if it was better or not then vs now as there are multiple factors such as GDP per capita, average earnings and median earnings, home prices, interest rates, inflation, average and median debt per family. A lot goes into it.
This post was edited on 5/29/25 at 12:32 pm
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