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

[Toddsterpatriot]

How what worked for the Soviets and Cuba?

Economics.

 

[TruthNotBS]

Economics.

I was pointing out that GDP stats in an economy based on finance and Wall Street doesn't say much about whether the working class can afford to live, whether they have affordable healthcare, education, access to a robust public infrastructure..etc. You're now going off on another one of your disingenuous, irrelevant Cold War style polemical tangents.

 

[Toddsterpatriot]

I was pointing out that GDP stats in an economy based on finance and Wall Street doesn't say much about whether the working class can afford to live, whether they have affordable healthcare, education, access to a robust public infrastructure..etc. You're now going off on another one of your disingenuous, irrelevant Cold War polemical tangents.

Right.
And then your cute cartoons showed the rich got all the wine.
Not show how much wine the working class got in Cuba and the Soviet Union.

 

[JLW]

As Bill Maher said, if this were Trump’s economy Trump would be spouting how great it is and Trumpers would be doubling down calling Trump their warrior God.

The economy is doing just fine.

 

[TruthNotBS]

Right.
And then your cute cartoons showed the rich got all the wine.
Not show how much wine the working class got in Cuba and the Soviet Union.

Again, completely irrelevant and disingenuous. I've already debunked your irrational, claptrap rhetoric, which completely ignores the cause of whatever conditions your crooked, feculent finger is pointing to. Do you want to get embarrassed again? I'll do it, for the sake of others, if they ask me to. If they're interested in knowing what my response is to your dishonest, hypocritical polemic against socialism, I'll do it. Someone else will have to submit the request because I frankly don't want to waste another minute on you.

 

[Toddsterpatriot]

Again, completely irrelevant and disingenuous. I've already debunked your irrational, claptrap rhetoric, which completely ignores the cause of whatever conditions your crooked, feculent finger is pointing to. Do you want to get embarrassed again? I'll do it, for the sake of others, if they ask me to. If they're interested in knowing what my response is to your dishonest, hypocritical polemic against socialism, I'll do it. Someone else will have to submit the request because I frankly don't want to waste another minute on you.

Do you want to get embarrassed again?

Like when you told me how the government played a minor, tiny role in the mortgage crisis?

That was awesome!

 

[TruthNotBS]

Do you want to get embarrassed again?

Like when you told me how the government played a minor, tiny role in the mortgage crisis?

That was awesome!

It was primarily driven by the private sector, yep. I'm correct. The fact is that GDP in the US reflects more what is occurring on Wall Street than on Main Street. The average Joe American can be living in crisis, in a nation with an impressive GDP, which doesn't reflect the actual situation on the ground, where it matters. Your beloved trickle-down economics doesn't work.

 

[Toddsterpatriot]

It was primarily driven by the private sector, yep. I'm correct. The fact is that GDP in the US reflects more what is occurring on Wall Street than on Main Street. The average Joe American can be living in crisis, in a nation with an impressive GDP, which doesn't reflect the actual situation on the ground, where it matters. Your beloved trickle-down economics doesn't work.

It was primarily driven by the private sector, yep.

Because government mandates that led Fannie and Freddie to buy trillions worth of subprime mortgages didn't
influence the private sector at all.
DURR
So, no cute trickle-down cartoons about the USSR?

 

[TruthNotBS]

It was primarily driven by the private sector, yep.

Because government mandates that led Fannie and Freddie to buy trillions worth of subprime mortgages didn't
influence the private sector at all.
DURR
So, no cute trickle-down cartoons about the USSR?
View attachment 1035857

Like always, you're exaggerating and making baseless claims about the prime mortgage crisis. Moreover, your funny appeal to the economic situation in the early 1960s, is irrelevant, being that the US came out of WW2 unscathed and became the world's manufacturing hub as a result, providing Western Europe and Japan with everything they needed to rebuild their countries. In the golden age of our economy, the top marginal tax rate was about 90%, and 1/3rd of our workforce was unionized. Your claims have nothing to do with supply-side, trickle-down economics, if anything they underscore my position. Kudos for the support.

 

[Toddsterpatriot]

Like always, you're exaggerating and making baseless claims about the prime mortgage crisis. Moreover, your funny appeal to the economic situation in the early 1960s, is irrelevant, being that the US came out of WW2 unscathed and became the world's manufacturing hub as a result, providing Western Europe and Japan with everything they needed to rebuild their countries. In the golden age of our economy, the top marginal tax rate was about 90%, and 1/3rd of our workforce was unionized. Your claims have nothing to do with supply-side, trickle-down economics, if anything they underscore what I said. Kudos for the support.

Germany wasn't unscathed.
East Germans had Trabants; I think there was a 10 year wait-list.
West Germans could drive off the lot same day in a BMW or Mercedes.
West Berliners were free to travel the world; East Berliners were imprisoned behind barb wire.
Golden Age indeed.

 

[TruthNotBS]

Germany wasn't unscathed.
East Germans had Trabants; I think there was a 10 year wait-list.
West Germans could drive off the lot same day in a BMW or Mercedes.
West Berliners were free to travel the world; East Berliners were imprisoned behind barb wire.
Golden Age indeed.

The Soviets were invaded by four million Germans and lost 28 million of their citizens, about 19 million civilians. That's about 14% of their population, whereas we lost less than half a million citizens, about 0.03% of our population. The Soviets rebuilt their nation and in less than ten years, were a nuclear superpower, rivaling the US, firing rockets into space. Despite your denial, practically all historians admit that by 1970 the USSR had the second largest economy in the world. Not bad in light of what they went through a couple of decades earlier in a world war, where they lost 14% of their population and much of their national infrastructure. You're a disingenuous silly man Todd, always appealing to 20th-century realities, in 2024. In the 21st century.

 

[Toddsterpatriot]

The Soviets were invaded by four million Germans and lost 28 million of their citizens, about 19 million civilians. That's about 14% of their population, whereas we lost less than half a million citizens, about 0.03% of our population. The Soviets rebuilt their nation and in less than ten years, were a nuclear superpower, rivaling the US, firing rockets into space. Despite your denial, practically all historians admit that by 1970 the USSR had the second largest economy in the world. Not bad in light of what they went through a couple of decades earlier in a world war, where they lost 14% of their population and much of their national infrastructure. You're a disingenuous silly man Todd, always appealing to 20th-century realities, in 2024. In the 21st century.

Yeah, it was a sad day when Stalin's ally invaded. What was his name again?
Super job rebuilding, that's why they had to keep Eastern Europe in chains.

Where is that cute cartoon about the awesome Soviet economy?

 

[TruthNotBS]

Yeah, it was a sad day when Stalin's ally invaded. What was his name again?
Super job rebuilding, that's why they had to keep Eastern Europe in chains.

Where is that cute cartoon about the awesome Soviet economy?

 

[Toddsterpatriot]

View attachment 1035872

 

[TruthNotBS]

View attachment 1035874

More of Todd's irrelevant gobbledygook.

 

[Toddsterpatriot]

More of Todd's irrelevant gobbledygook.

 

[TruthNotBS]

View attachment 1035881

Trickle-down economics doesn't work, what does your cartoon have to say about that? Nothing. You're just going off on another one of your irrelevant, disingenuous tangents.

 

[Toddsterpatriot]

Trickle-down economics doesn't work, what does your cartoon have to say about that? Nothing. You're just going off on another one of your irrelevant, disingenuous tangents.

It works every time.
Just as communism fails every time.

 

[TruthNotBS]

It works every time.
Just as communism fails every time.

 

[westwall]

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.