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2019 GDP growth
01. India - 7.5%
02. China - 6.4%
03. Mexico - 2.7%
03. United States - 2.7%
05. Brazil - 2.5%
06. Nigeria - 2.3%
07. Spain - 2.2%
08. Germany - 2.1%
09. Canada - 2.0%
10. Saudi Arabia - 1.9%
11. France - 1.7%
11. South Africa - 1.7%
13. Russia - 1.5%
13. United Kingdom - 1.5%
15. Italy - 1.0%
16. Japan - 0.9%
In 2019, growth slightly better for India, Mexico, Brazil, Nigeria, South Africa, the United Kingdom, remain the same for Saudi Arabia but slightly worse for everyone else
What's amazing is that we're doing it with a 20 trillion dollar economy and historically low unemployment. One of would think there's not much room for growth there.
Are those inflation adjusted numbers? If not, there was no growth at all last year. The article does not indicate what the numbers are based on. The projected 3.9% world growth rate looks pretty good from a multinational corporation perspective, but it's quite a bit higher than the projected US growth rate.
There's a lot of weeping and moaning about the developing trade war, but it seems to me that it will be a boost to domestic business. I read that the tariffs only represent a 5.8% tax increase on consumers and businesses, which is dwarfed by the last round of tax cuts.
So far, the Chinese retaliation hasn't had much effect on farmers. China is buying soybeans from Brazil, the Brazilian farmers are sitting on their beans because they expect higher prices later in the year, so Brazilian traders are buying US soybeans. The crushers are crying into their beer about high prices, but things are likely to get worse. The US may end up exporting a lot of biodiesel.
Oh, no - how many posts do we need that don't show us that the "growth" is
1. Largely among the very wealthy.
2. Includes 1.5 TRILLION in debt and deficit JUST THIS YEAR....which our children would have to pay back.
3. "Growth" includes paying more for gasoline, health care and many other things.....
Example - if we each pay 20% more for gas this year, that is additional GDP. If we take the 1.5 Trillion in borrowed money and spend it, that is also "free" GDP. If we get sick and pay higher health care cost...yep, that is GDP and growth.
Every overpriced weapon fired or developed...yep, growth.
Here is a real question. What about the happiness of the people and general welfare? Is our infant mortality falling? Our maternal mortality falling? Our life spans increasing? Our health improving?
If not...then how can one say things are "great"??? Should I really care if Raytheon sells cruise missiles to replace those which Trump fired at largely empty targets? I don't.
I care about human beings. You know "The People"???? Remember them?
Please point to the stats that show how all those scourges are being greatly reduced due to more happiness.
3. "Growth" includes paying more for gasoline, health care and many other things.....
Why wouldn't it? You don't think the millions of Americans who put bread on the table working in the healthcare or energy sectors count as part of the economy? The point of GDP is to measure the goods and services produced in the country, it seems like you are seeking some alternate measure that is only for fun things like lollipops, bongs made of purple glass, and subwoofers. The people in industries you don't like live too, spend their money, pay their taxes, etc.
Quote:
Originally Posted by craigiri
Every overpriced weapon fired or developed...yep, growth
Okay we'll add "things you morally disagree with" to the list of things that don't actually count as a good or service. The craigirl fun-and-nice-things index is born. We'll call it CGFNTX.
Quote:
Originally Posted by craigiri
Here is a real question. What about the happiness of the people and general welfare? Is our infant mortality falling? Our maternal mortality falling? Our life spans increasing? Our health improving?
Does infant mortality or average lifespan really measure the happiness of a people? I get that a mother who's infant dies in childbirth is sad, but in a country of hundreds of millions of people I'm not convinced that tenth of a percentage among those who have children really makes a measurable impact on the happiness of a population as a whole. Same with people who die of old age at 82 instead of 81. Sucks, but is that how you measure the happiness of everyone else? I don't think so. Look at Japan and their lifespans, yet where do they fall on indexes that try to measure happiness or suicide rate.
People are all different and want different things, I'm not sure how happiness can be quantified. Some of the happiness people I've met in their day to day lives (in general, and yeah I know big time anecdotal experience alert) were in the Philippines, South Africa, and Colombia. I've not looked but I doubt any of them are on the top of the lifespan or infant mortality list.
Quote:
Originally Posted by craigiri
I care about human beings. You know "The People"???? Remember them?
Some day they shall sing songs and erect gilded statues of the glory of how craigiri most righteously cared about the people. We just need to find an artist who can complete a colossal statue with the hand bent backwards for the self-pat without overbalance tumbling it down, wasting resources that could have gone towards generating even more happiness. Maybe another 2 hours in average lifespan!
Oh, no - how many posts do we need that don't show us that the "growth" is
1. Largely among the very wealthy.
2. Includes 1.5 TRILLION in debt and deficit JUST THIS YEAR....which our children would have to pay back.
3. "Growth" includes paying more for gasoline, health care and many other things.....
Example - if we each pay 20% more for gas this year, that is additional GDP. If we take the 1.5 Trillion in borrowed money and spend it, that is also "free" GDP. If we get sick and pay higher health care cost...yep, that is GDP and growth.
Every overpriced weapon fired or developed...yep, growth.
Here is a real question. What about the happiness of the people and general welfare? Is our infant mortality falling? Our maternal mortality falling? Our life spans increasing? Our health improving?
If not...then how can one say things are "great"??? Should I really care if Raytheon sells cruise missiles to replace those which Trump fired at largely empty targets? I don't.
I care about human beings. You know "The People"???? Remember them?
Please point to the stats that show how all those scourges are being greatly reduced due to more happiness.
Good post Craigiri. I have mentioned this before that we wasted too much money trying to trick GDP into some false statement about growth. GDP is not growth. Return on Investment is growth. Debt-spending is not growth. Debt-Spending is the impoverishment of unborn generations for the comfort of the present generation. We haven't had real economic growth since 2001. We only managed to grow debt since then and simulate or fake economic growth creating economic bubbles. Debt makes you think the economy is growing, but this is not true. In reality our leaders have engineered a Great Global Debt Mirage.
GDP is a worthless number, scam designed to trick American Public.
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