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Posted on 4/5/25 at 12:31 am to Powerman
quote:
God forbid developing nations catch up
You're more than welcome to allow it to come at your own expense.
I'll choose differently.
This post was edited on 4/5/25 at 12:32 am
Posted on 4/5/25 at 1:20 am to Azkiger
You don't understand how anything works apparently
Posted on 4/5/25 at 1:22 am to Indefatigable
quote:
Developing economies grow faster than rich, established economies??
Holy shite. I never would have thought.
What would our GDP be if we hadn't sacrificed ourselves so communist China could grow?
How big of a threat would China be if we didn't sacrifice ourselves so China could grow?
How much more valuable would our companies be if China was never able to steal our IP and undercut us?
There is opportunity cost to everything. Some people think economic growth is the most important thing regardless of any consequences.
The neverending commitment to economic fundamentalism has allowed one of the greatest threats in the world to grow. "Economics says this is the way to maximize so this is what we must do with no deviation."
Blind obedience to textbook economic principles has created a country that can do us far more harm than even the Soviets. It's a myopic point of view to pursue one thing at all costs. You're celebrating because we're still #1 while #2 quickly gains. If we were smarter, we would still be #1 with #2 not even in sight.
It's no different than when people said we had to arm Al-Queda to hurt Russia. They only saw what was right in front of them. Long term consequences be damned.
Posted on 4/5/25 at 1:22 am to Powerman
quote:
You don't understand how anything works apparently
A pointless reply. Might as well not have said anything at all.
Posted on 4/5/25 at 1:23 am to Azkiger
quote:
A pointless reply. Might as well not have said anything at all.
You do realize that we are the ones that created this system and it has worked out well for almost the entire world right?
Posted on 4/5/25 at 1:26 am to Powerman
quote:
You do realize that we are the ones that created this system and it has worked out well for almost the entire world right?
I realize that self serving politicians created this system, yes.
You're free to trust them, but I'm skeptical of people whose salaries are 200k a year and end up worth tens of millions after 2 or 3 terms.
Posted on 4/5/25 at 1:33 am to GenacGenacGenac
South Korea doesn’t smell. Ok with the rest
Posted on 4/5/25 at 1:35 am to Jbird
quote:Whats wrong with that? Wealth is t zero sum. You guys sound like Bernie.
With a huge assist from America.
Bernie and crew think because “the rich” have all the money there is no opportunity for others to make money. Zero sum fallacy. You guys seem to think that because someone else developed more wealth that you are poorer as a result. Also a zero sum fallacy.
Posted on 4/5/25 at 1:35 am to Azkiger
quote:
I realize that self serving politicians created this system, yes.
You're free to trust them, but I'm skeptical of people whose salaries are 200k a year and end up worth tens of millions after 2 or 3 terms
No issues with that stance at all dude.
Posted on 4/5/25 at 1:44 am to TenWheelsForJesus
quote:Lower and we’d have had massive inflation.
What would our GDP be if we hadn't sacrificed ourselves so communist China could grow?
quote:Bigger, because they’d be a much more unstable country. Two billion starving citizens don’t make good decisions.
How big of a threat would China be if we didn't sacrifice ourselves so China could grow?
Why are you so invested in keeping other countries poor? Who is trying to take advantage of who?
Posted on 4/5/25 at 2:55 am to Taxing Authority
We must punish everyone if you haven't gotten the memo
Posted on 4/5/25 at 5:11 am to Robin Masters
quote:
Global GDP grew at 35% USA GDP grew at 28% We were well below average.
If you take out the United States numbers, what does the global growth look like?
Posted on 4/5/25 at 6:30 am to Robin Masters
We had a developed "mature" economy. These others had lingered for a long time. Once they got their financial houses in order, yeah, they grew and in the case of of China, India and Indonesia because of their large populations they have grown fast and by great leaps and bounds. In the case of India and Indonesia that has been a net plus overall for the US....along with South Korea.
Economic security leads to more stable governing environments and less potential for political upheval. I'm not seeing a negative. I would even argue that consistent almost 3% annual growth in the US is a big victory for Fed Reserve oversight and guidance. You have consistency and certainty.
Economic security leads to more stable governing environments and less potential for political upheval. I'm not seeing a negative. I would even argue that consistent almost 3% annual growth in the US is a big victory for Fed Reserve oversight and guidance. You have consistency and certainty.
Posted on 4/5/25 at 6:37 am to Azkiger
It’s called the catch-up effect. It’s taught in every introduction to economics textbook. Got check it out 
Posted on 4/5/25 at 7:36 am to ApexTiger
quote:
you take out the United States numbers, what does the global growth look like?
Without the US the GDP of remaining top 19 countries rose from ~62T to 85T or around 37%, 3.7% per year.
During the same period the US grew 2.8% per year.
The interesting thing is that over the last 50 years we have avg 3.2% growth so during the last 10 years we are about .4% off our historical avg of the last half century. Over ten years that lost productivity amounts to around 10TT assuming 250TT in GDP over ten years.
On its surface this seems to contradict the theory that as developing countries expand rapidly it has a stimulating effect on our own GDP. It would appear based on historical averages we lost $10TT.
Posted on 4/5/25 at 7:45 am to Robin Masters
quote:
On its surface this seems to contradict the theory that as developing countries expand rapidly it has a stimulating effect on our own GDP.
Compare our growth to other advanced, developed economies over that time.
Posted on 4/5/25 at 7:47 am to SlowFlowPro
quote:
Compare our growth to other advanced, developed economies over that time.
Why not compare it to our own prior to the rapid development of China?
Prior to China and India we were 3.5% plus. Post China and India we are now 2.8%. If their growth nurtures our growth why is there less growth?
This post was edited on 4/5/25 at 7:50 am
Posted on 4/5/25 at 7:51 am to Robin Masters
quote:
Why not compare it to our own prior to the rapid development of China?
The reasons everyone is laughing at you for this thread. I'll go back to my first reply
quote:
Do you realize how impressive this is for the US?
Hint: when you start from a big number, % growth is much more difficult.
Hint: we started at #1 10 years ago
Compare our growth to similar economies and you can see how much we have benefited.
As has been shown to you over and over again in this thread, other than not understanding basic math, you think that our trade should only benefit the US, for some irrational reason. Beneficial trade will benefit both parties, so China, coming from a less developed and smaller economy, will mathematically grow at a higher rate than the US, coming from the most developed and largest economy.
Note: China's economy still is not developed in a way to compare to our economy in terms of status. They're 71-ish in PCGDP, between the economic powerhouses of Montenegro and Turkmenistan.
quote:
If their growth nurtures our growth why is there less growth?
Basic math that has been explained to you about 20x in this thread.
This post was edited on 4/5/25 at 7:53 am
Posted on 4/5/25 at 7:58 am to SlowFlowPro
quote:
Compare our growth to similar economies and you can see how much we have benefited. As has been shown to you over and over again in this thread, other than not understanding basic math, you think that our trade should only benefit the US, for some irrational reason. Beneficial trade will benefit both parties, so China, coming from a less developed and smaller economy, will mathematically grow at a higher rate than the US, coming from the most developed and largest economy. Note: China's economy still is not developed in a way to compare to our economy in terms of status. They're 71-ish in PCGDP, between the economic powerhouses of Montenegro and Turkmenistan.
You won’t answer the question and you continue to obfuscate the point of the thread with a straw man. I’ve never said we should match Chinas growth and in fact I’ve repeated claims to the contrary several times. This is highly suspicious as is your need for ad hominem.
Two things can be true at once: we can be the most prosperous country at the moment and still be leaving money on the table while giving up ground.
Again, if chinas/indias growth adds to our growth why has there been less growth relative to our historical 50 year avg?
This post was edited on 4/5/25 at 8:00 am
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