The Economist: The US Economy Is The Envy Of The World

[Harpy Eagle]

Despite the duopoly, America is a great nation.

We are ok, better than average even. Not sure great is the word I would use these days

 

[g5000]

Of course I've noticed the wealth Gap.
Trickle down is not a hoax. If you put pressure on the wealthy class it unfailingly trickles down to the plebians. The puzzle of how to stop the upward flow of wealth has not been solved despite everyone's aha moments. By volume the top 10% pay 60% of the taxes already.

The dream of moving that up to 95% of the taxes is never going to happen. There's no telling what would happen if you tried it.

I'm not against that number I just don't think it's reachable not without severe consequences

Cloward and Piven came up with a great idea of imploding the entire system by spreading poverty at a mass rate until everything fails. Not such a very clever ******* idea.

They theorized that this will force everyone to start over from the same starting blocks. Unfortunately that's no different than trying to tell everyone in the audience that the 5 foot 5 basketball player and the 7 foot 2 basketball player are exactly the same player. It would be nice but it's just not real.

I don't pretend to know what the answer is. But I'm certain that strengthening the dollar is a quick way to reach everyone with more financial empowerment even if it does slow down our international trade a bit.

Jo

We've had a 95% tax rate in the past and the world didn't end.

The fact is, there were so many loopholes that no one ever actually paid the full amount.

And that is the exact same thing happening today. My number one beef, if you haven't noticed by now, is tax expenditures.

Tax expenditures are exactly how the playing field is being tilted in the wealthy's favor and causing this huge wealth gap.


My biggest concern for the future existence of our country is the federal debt. Neither party has shown even the slightest interest in getting overspending under control, much less reducing the debt.

That is what will end us, and we are getting closer to that end. Bond buyers of US debt are already starting to demand higher interest.


I think the powers that be are deliberately keeping us all at each other's throats while they plunder our wallets.

Divide and conquer.

This is the chief reason I detest Trump. Not because he is himself a member of the elite, but because he is a demagogue who points his fat finger at the innocent, blaming them for the complex reasons we are where we are.

Just like Hitler blaming the Jews for Germany's problems during their economic and political struggles.

The reasons behind our problems are deeply complex, and having NOTHING to do with immigrants or China.

Yet that is literally his answer to every single question someone asks him at a town hall Q&A.

The debt is our doom, and Trump added $8 trillion to the disease.

Will Harris reduce our debt? Nope. But she will add less than Trump.

That's how fucked up things are now. There is NO ONE who has a plan to reduce our debt.

There was a brief magical moment in the late 90s when both parties worked together to do it, but those days are long gone.

 

[g5000]

We are ok, better than average even. Not sure great is the word I would use these days

We are definitely great. Despite our problems, we are the first phone call every other nation makes when they are in trouble.

 

[Harpy Eagle]

We are definitely great. Despite our problems, we are the first phone call every other nation makes when they are in trouble.

which is driving us to the poor house

 

[Harpy Eagle]

We are definitely great. Despite our problems, we are the first phone call every other nation makes when they are in trouble.

Also, with our plan to move to Panama i have been doing a lot of reading on the area and the actions of the US were shameful to put it mildly.

 

[g5000]

Also, with our plan to move to Panama i have been doing a lot of reading on the area and the actions of the US were shameful to put it mildly.

Every nation has black marks in their past.

Some, like Russia, have black marks in the present.

It's well and good for us to acknowledge our mistakes so we don't repeat them, but self-loathing never does anyone any good.

I prefer to look at it as a means to see how far we have come.

 

[Harpy Eagle]

Every nation has black marks in their past.

Some, like Russia, have black marks in the present.

It's well and good for us to acknowledge our mistakes so we don't repeat them, but self-loathing never does anyone any good.

I prefer to look at it as a means to see how far we have come.

Being not as bad a Russia seems a damn low bar.

And I am not so sure we are any better now

 

[g5000]

Being not as bad a Russia seems a damn low bar.

And I am not so sure we are any better now

From the starting line, we have abolished slavery, given women the right to vote, enacted civil rights for minorities, allow same-sex marriages, provide a social safety net, raised countless millions out of poverty, and so forth.

We are MUCH, MUCH better now, and getting better all the time.

 

[Toddsterpatriot]

I guess you have not seen the latest figures that show consumer confidence is growing.

How much of that is because Biden and Harris are soon to be gone?

 

[Fort Fun Indiana]

How much of that is because Biden and Harris are soon to be gone?

Maybe consider reading the OP before commenting.

 

[justoffal]

It's totally amazing how you guys can totally ignore the polls which say that American's number one concern is the economy, which translates into millions and millions of Americans can't afford to live anymore. But, you fools ignore that and say our economy is the envy of the world. Why are you ignoring millions of people who can't afford to live anymore?

Sure compared to the average daily calorie intake of less than 800 in North Korea, less than 900 in India, and less than a thousand in China..... We probably are are an envy.... But who gives a shit if the rest of the world envies us??? So ******* what? What the hell is that supposed to mean?

.... Just because we're doing marginally better doesn't mean we're doing well. We compare to what we had and lost not to what everyone else has.

 

[justoffal]

It's totally amazing how you guys can totally ignore the polls which say that American's number one concern is the economy, which translates into millions and millions of Americans can't afford to live anymore. But, you fools ignore that and say our economy is the envy of the world. Why are you ignoring millions of people who can't afford to live anymore?

The " piss off factor " on this one is like a pipe bomb. Whole the median income household is actually dying on the vine they are being told the following:

1. Inflation is under control !
2. The GDP is the envy of the world!
3. Real wages have gone up!
4. Why are you having a hard time?
I'm doing swimmingly well!
5. Do you need a loan?
6. Why do root for the bad?
I could go on....
In the meantime while being inundated with all of this pre-scripted propaganda:

The same people are watching their cars be towed away.

The same people are watching their electric bill go up over $2,000 and climbing month by month.

The same people are watching their grocery bag shrink as the price of everything they like has gone up by 30% over the past 3 years.

The same people can no longer afford to go out to eat. Even though members of the investor class would tell you that they go out to eat all the time and have no problem paying for it and simply can't understand what's the matter with you.

The same people are locked out of the real estate market because the dollar's buying power has crashed so badly they can no longer afford to buy housing.

The same people are being finger wagged and told that they are racist and misogynist for not agreeing that the economy is good but pointing out the truth that for them the economy actually sucks.

The entire process creates one very large pool of extremely pissed off people.

But the lecturing squawk beaks continue to cover them in accusations intended to desensitize them to their real situation.

Jo

 

[Independent thinker]

Sure compared to the average daily calorie intake of less than 800 in North Korea, less than 900 in India, and less than a thousand in China..... We probably are are an envy.... But who gives a shit if the rest of the world envies us??? So ******* what? What the hell is that supposed to mean?

.... Just because we're doing marginally better doesn't mean we're doing well. We compare to what we had and lost not to what everyone else has.

Bottom line, millions and millions are having a very hard time making ends meet compared to four years ago.

 

[Fort Fun Indiana]

The " piss off factor " on this one is like a pipe bomb. Whole the median income household is actually dying on the vine they are being told the following:

1. Inflation is under control !
2. The GDP is the envy of the world!
3. Real wages have gone up!
4. Why are you having a hard time?
I'm doing swimmingly well!
5. Do you need a loan?
6. Why do root for the bad?
I could go on....
In the meantime while being inundated with all of this pre-scripted propaganda:

The same people are watching their cars be towed away.

The same people are watching their electric bill go up over $2,000 and climbing month by month.

The same people are watching their grocery bag shrink as the price of everything they like has gone up by 30% over the past 3 years.

The same people can no longer afford to go out to eat. Even though members of the investor class would tell you that they go out to eat all the time and have no problem paying for it and simply can't understand what's the matter with you.

The same people are locked out of the real estate market because the dollar's buying power has crashed so badly they can no longer afford to buy housing.

The same people are being finger wagged and told that they are racist and misogynist for not agreeing that the economy is good but pointing out the truth that for them the economy actually sucks.

The entire process creates one very large pool of extremely pissed off people.

But the lecturing squawk beaks continue to cover them in accusations intended to desensitize them to their real situation.

Jo

The problem is our low tax revenue. And our wealth gap.

 

[Harpy Eagle]

The same people are watching their electric bill go up over $2,000 and climbing month by month.

who the living **** is paying 2000 dollars a month for eclectic bill?

you are so full of shit you eyes have turned brown

 

[TruthNotBS]

Despite all the whining and lying by MAGA World, and their praying for America to fail, the US is kicking ass.

The American economy has left other rich countries in the dust​

Even more striking is how America has outperformed its peers among the mature economies. In 1990 America accounted for about two-fifths of the overall GDP of the G7 group of advanced countries; today it is up to about half (see chart). On a per-person basis, American economic output is now about 40% higher than in western Europe and Canada, and 60% higher than in Japan—roughly twice as large as the gaps between them in 1990. Average wages in America’s poorest state, Mississippi, are higher than the averages in Britain, Canada and Germany.

And America’s outperformance has accelerated recently. Since the start of 2020, just before the covid-19 pandemic, America’s real growth has been 10%, three times the average for the rest of the G7 countries. Among the G20 group, which includes large emerging markets, America is the only one whose output and employment are above pre-pandemic expectations, according to the International Monetary Fund.



And if any of you Putin-lovers think our inflation is bad...


Russia's central bank has hiked the key interest rate by 200 basis points to a record-high 21% in a bid to fight inflation, fuelled by military spending.


Here's the thing about GDP and warfare. If you build a bunch of tanks, the cost of those tanks counts toward your GDP. So your GDP growth looks great. On paper.

But...

All you have to show for it is a bunch of pieces of burnt metal.

Absolutely. GDP often gives an incomplete picture of economic well-being for the average person. While it measures the total economic output, it doesn’t account for income distribution, quality of life, or whether growth actually benefits the majority of people. When GDP rises, it can sometimes just indicate gains in financial sectors or asset values that don’t trickle down to the general population.

 

[Toddsterpatriot]

Absolutely. GDP often gives an incomplete picture of economic well-being for the average person. While it measures the total economic output, it doesn’t account for income distribution, quality of life, or whether growth actually benefits the majority of people. When GDP rises, it can sometimes just indicate gains in financial sectors or asset values that don’t trickle down to the general population.

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Now post how it worked for the Soviet Union and Cuba.

 

[sparky]

Every 'democracy' in this rock's history crashed & burned for one simple reason fellas.....~S~

 

[Fort Fun Indiana]

Every 'democracy' in this rock's history crashed & burned for one simple reason fellas.....~S~

Oh yeah?


Which far right authoritarian systems didn't?

 

[TruthNotBS]

Now post how it worked for the Soviet Union and Cuba.

How what worked for the Soviets and Cuba? What's the "it" you're appealing to? Likely nothing, completely irrelevant to what I said. That's all you have Todd, irrelevant BS, that I've already debunked, time and time again.