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One big thing we can do is simply start a Rare Earths refinery. Right now China has the only refinery on the planet that's really functioning and they created huge tariffs on any type of exports on all rare earths. So tons of electronics firms and lots of other companies have to have a production factory in China so that they can buy the rare earths locally and get around the tariffs.
You provide a source for the world and also for our own companies and you put a pretty decent wedge in a monopoly that China has created. Instead of every country trying desperately to stockpile the remaining minerals they have you give them a better source. Immediately you start to have the possibility of affordable electronics and other type of manufacturing occuring in the US.
Our days were numbered the day Clinton was elected in 1992. We have the American voter to thank for the current bankrupt corrupt state of government that we have today. Obviously American voters are too stupid to deserve a prosperous country. American voters want to see the US destroyed. Why else would they elect Democrats?
Nonsense.
It was inevitable that China's economy would eventually become the worlds' largest - it does after all have the greatest population. The only reason it didn't have the world's largest economy previously is because it was backwards - but that wasn't going to stay that way forever. At some point China's modernization was going to transform it into the position any country with the worlds' largest population would have - that of the country with the world's largest economy as well.
I have no problem with that. Why should I begrudge other people wanting the same type of living that Americans have enjoyed for decades? More to the point, why should ANYONE be surprised at that?
To clarify, China is expected to pass the United States as the world's largest economy as adjusted by purchasing power parity - the "nominal GDP" lists that usually make the rounds don't adjust for differences in purchasing power within and between countries. It's the same concept as measuring spending in "real dollars" instead of nominal dollars, because the purchasing power of a currency unit changes over time; in the same way it differs between countries. Adjusting GDP for purchasing power parity produces a superior set of statistics and is a better indication of what's really going on.
Measuring by nominal GDP, China is far behind the United States and isn't expected to pass the U.S. for at least another decade; adjusting for purchasing power parity, however, reveals that the real gap is narrower than nominal GDP suggests, and the gap will be essentially closed by next year. Wikipedia has three lists of countries ranked by GDP (PPP).
The total GDP is best for measuring how large an economy is or how powerful a country is economically; in this respect China will soon be on par with America, and that is very important. Adjusting these figures for population reveals how wealthy/productive the population is, which is also an important figure; this is known as GDP (PPP) per capita. In this respect, China is far behind the United States, and the United States rank at the lower rung of the top 10. According to the World Bank, the countries that outrank the U.S. in GDP (PPP) per capita are Brunei, Switzerland, Singapore, Norway, Macau, Luxembourg, and Qatar.
The US changed the way they calculate GDP which inflates our GDP number compared to all other countries in the world. We are the only country to calculate this way and so we cannot be compared anymore unless you look at the GDP calculated before the change.
The new way of calculating added 3% to our GDP.
Shadowstats now follows our GDP numbers and provides the "old way" of calculating.
We're in -2% territory.
One big thing we can do is simply start a Rare Earths refinery. Right now China has the only refinery on the planet that's really functioning and they created huge tariffs on any type of exports on all rare earths. So tons of electronics firms and lots of other companies have to have a production factory in China so that they can buy the rare earths locally and get around the tariffs.
You provide a source for the world and also for our own companies and you put a pretty decent wedge in a monopoly that China has created. Instead of every country trying desperately to stockpile the remaining minerals they have you give them a better source. Immediately you start to have the possibility of affordable electronics and other type of manufacturing occuring in the US.
It could happen, if we're proactive.
That's one reason we went to Afghanistan.
But we went in with guns like Russia did rather than with trade agreements.
That's one reason we went to Afghanistan.
But we went in with guns like Russia did rather than with trade agreements.
We just need to put focus back in California's Mountain Pass and get that running back at full capacity. They closed it down when China started flooding the market and made the prices non-competitive, but now that China's basically closed exports on Rare Earths we need to fire things back up again. No need for guns, no need for trade agreements.
The US changed the way they calculate GDP which inflates our GDP number compared to all other countries in the world. We are the only country to calculate this way and so we cannot be compared anymore unless you look at the GDP calculated before the change.
The new way of calculating added 3% to our GDP.
Shadowstats now follows our GDP numbers and provides the "old way" of calculating.
We're in -2% territory.
Ah yes..the country's health is now measured by Hollywood TV/film royalties and those paintings hanging in the Capitol.
Revising how the US calculates GDP will not have a happy ending | Heidi Moore | Business | theguardian.com
Starting in July, the keepers of US economic data at the Bureau of Economic Analysis will stand over the usual cauldron of GDP – a stew that includes how much Americans consume, government spending, investment, exports and imports. They'll begin to add new ingredients that, in a puff of smoke, will create a more favorable, higher gross domestic product.
Ah yes..the country's health is now measured by Hollywood TV/film royalties and those paintings hanging in the Capitol.
Revising how the US calculates GDP will not have a happy ending | Heidi Moore | Business | theguardian.com
Starting in July, the keepers of US economic data at the Bureau of Economic Analysis will stand over the usual cauldron of GDP – a stew that includes how much Americans consume, government spending, investment, exports and imports. They'll begin to add new ingredients that, in a puff of smoke, will create a more favorable, higher gross domestic product.
Don't be an idiot. It's NOT "measured by Hollywood TV/film royalties" - it simply INCLUDES them (as it SHOULD have been doing all along - hence the fact that that segment of the economy will be added to the GDP RETROACTIVELY).
Do you have a VALID REASON why it SHOULD EXCLUDE that segment of the economy?
Speak up!
Your link is ignorant nonsense. Take for example the statement "For the first time, the US is changing the way it measures its economic growth, the measure we call our gross domestic product". That statement right off shows the author is either completely ignorant or is outright lying. It's HARDLY the "first time" the US changed the way it calculates the GDP (or what it includes in it). In 1999 for example, it started to include PACKAGED SOFTWARE DEVELOPMENT (you know? minor little products like WINDOWS, MICROSOFT OFFICE, VIDEO GAMES, etc, etc, etc). Your "source" is either an ignorant fool - or someone who believe her READERS ARE (which, in truth may well be the case).
Ken
Last edited by LordBalfor; 04-30-2014 at 11:43 AM..
Won't happen, as long as the EPA and its enviro-whacko fellow travelers keep forbidding it.
I understand their fears with the whole leaking of 100,000s of gallons of radioactive waste being spilled into waterways. You can mine and not spill radioactive waste everywhere it just takes more effort and that effort would be paid off by breaking the Chinese monopoly.
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