GDP Update 2023: US ($27.5T) vs CHINA ($17.6T) [US up by $10 Trillion]

[Get Ya Wig Split]

@F-22Raptor @Hamartia Antidote

@beijingwalker It's pretty much over for China.

 

[F-22Raptor]

View attachment 943478

@F-22Raptor @Hamartia Antidote

@beijingwalker It's pretty much over for China.

Deflation is a b*tch

 

[beijingwalker]

High inflation and crazy cost of living create a mirage

Record share of Americans say they are worse off financially than one year earlier: survey

A record share of Americans in a new survey from the Federal Reserve Board say they’re worse off financially than they were a year earlier. According to the “Economic Well-Being of U.S. Households”…

thehill.com

 

[StraightEdge]

Lots of misleading and intentionally cherry-picked data, but not unusual from certain posters.

Real GDP increase for US is mere 1 Trillion in past 4 financial years, rest is just inflation. You should read your own gov data from BEA.

gdplev.xlsx (live.com)

It's obvious when you check the real growth rate - 2.3%, -2.8%, 5.9%, 2.1%. Your GDP can't grow miraculously when actual growth crossed 3% only once in past 15 years.

Looking into the nominal GDP and marvelling at the effects of inflation is hardly an achievement.

 

[Bilal9]

Pot calling the kettle black ain't gonna resolve the US financial problem.

Sleepy Joe can't fix the issue with his woke cabinet.

The price of food and gas in the US has gone sky high.

Lower Middle class (even Middle class) folks are finding it hard to make ends meet.

I live in the West Coast and I know.....

 

[F-22Raptor]

Lots of misleading and intentionally cherry-picked data, but not unusual from certain posters.

Real GDP increase for US is mere 1 Trillion in past 4 financial years, rest is just inflation. You should read your own gov data from BEA.

gdplev.xlsx (live.com)

View attachment 943512It's obvious when you check the real growth rate - 2.3%, -2.8%, 5.9%, 2.1%. Your GDP can't grow miraculously when actual growth crossed 3% only once in past 15 years.

Looking into the nominal GDP and marvelling at the effects of inflation is hardly an achievement.

Inflation>Deflation

The reality is economists and the world only look at nominal gdp when comparing relative power of nations.

I’d rather have inflation than be mired in deflation for eternity like the Japanese and now facing the Chinese economy.

When measuring national power nominal GDP is all that matters.

High inflation and crazy cost of living create a mirage

Record share of Americans say they are worse off financially than one year earlier: survey

A record share of Americans in a new survey from the Federal Reserve Board say they’re worse off financially than they were a year earlier. According to the “Economic Well-Being of U.S. Households”…

thehill.com

$80K PPP GDP per capita, highest median disposable income in the world, inflation murdered to 3%.

Have fun with deflation, the Japanese have been experiencing it for decades.

 

[StraightEdge]

The reality is economists and the world only look at nominal gdp when comparing relative power of nations.

 

[F-22Raptor]

View attachment 943529

View attachment 943530

View attachment 943531

Once again, nominal GDP is all that matters when measuring relative power of nations. When the world looks at economic rankings, nominal is what’s always assessed. Why do you think so many economic think tanks around the world always assess nominal GDP in the geostrategic competition between the US and China? They never use real GDP, ever.

Cope more

 

[StraightEdge]

Once again, nominal GDP is all that matters when measuring relative power of nations. When the world looks at economic rankings, nominal is what’s always assessed. Why do you think so many economic think tanks around the world always assess nominal GDP in the geostrategic competition between the US and China? They never use real GDP, ever.

Cope more

I like how you trying to escape when you got caught. You are yet to submit a actual proof that nominal GDP is "better" than real GDP. What you or media says is not a proof.

Here's a tip for you - when IMF/WB/OECD reports GDP growth rates, it reports based on real GDP, not nominal GDP.

BTW, economists agree with me.

 

[F-22Raptor]

I like how you trying to escape when you got caught. You are yet to submit a actual proof that nominal GDP is "better" than real GDP. What you or media says is not a proof.

Here's a tip for you - when IMF/WB/OECD reports GDP growth rates, it reports based on real GDP, not nominal GDP.

BTW, economists agree with me.

Nope, nominal GDP is all that matters in relative national power and every major economic think tank agrees with me.

 

[beijingwalker]

Nope, nominal GDP is all that matters in relative national power and every major economic think tank agrees with me.

Then why China has money to build everything while US can't even afford building a new subway line?

 

[F-22Raptor]

I like how you trying to escape when you got caught. You are yet to submit a actual proof that nominal GDP is "better" than real GDP. What you or media says is not a proof.

Here's a tip for you - when IMF/WB/OECD reports GDP growth rates, it reports based on real GDP, not nominal GDP.

BTW, economists agree with me.

Will China's economy overcome the US | Capital Economics

Our long-run forecasts suggest that China will still be the second-largest economy, measured at market exchange rates, in 2050. Read our report to find out more

www.capitaleconomics.com

Capital Economics agrees with me

 

[beijingwalker]

“In purchasing power parity, they spend about one dollar to our 20 dollars to get to the same capability.”

China Acquiring New Weapons Five Times Faster Than U.S. Warns Top Official

Air Force’s acquisition chief is the latest to warn that the Pentagon is being left behind by the pace of China's defense developments.

www.thedrive.com

 

[F-22Raptor]

China’s GDP will not surpass that of the U.S. | 公益社団法人 日本経済研究センター:Japan Center for Economic Research

公益社団法人　日本経済研究センター　JCER概要、経済予測や研究レポート。出版物、学術誌や会報の案内。

www.jcer.or.jp

Japan Center for Economic Research agrees with me

 

[letsrock]

USD is powerful if you are trying to import stuff. But otherwise inflation matters.

If one really wants to compare material growth - they must compare consumption of electricity, housing square feet, average kms traveled by a person, consumption of meat/fruit/clothes , car sales.