Posted on 12/04/2014 4:15:32 PM PST by etl lll
There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.
It just happened — and almost nobody noticed.
The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year produce $17.6 trillion — compared with $17.4 trillion for the U.S.A.
As recently as 2000, we produced nearly three times as much as the Chinese.
(Excerpt) Read more at finance.yahoo.com ...
You can thank Nixon and all of the other US Presidents that have followed.
Obama: US infrastructure ‘embarrassing’
http://www.freerepublic.com/focus/f-news/3233685/posts
It’s time we put our 7 year olds to work.
Universal Suffrage, is there nothing it can’t destroy?
Dont blame just Obama.
This was a long project of the Globalists to grind down the American middle class .
The Bush family and the Rockefellers prominent in that project. Along with the Great Captains of American Industry - led by the depraved Jack Welch.
This is the great victory of the Free Trade gang - after lying for decades about all the great things that would happen with China as a customer.
That was all crap. The intent was to destroy the unions and impoverish the middle class in the U. S., so they have to take whatever scraps the Banksters throw off their tables.
Now we have the worlds largest and most powerful Fascist state ever. They dont plan on being quiet, either.
Talking to China was not a mistake or a problem. Our demise is not due to diplomacy or trade. Our demise is because we have abandoned our first principles.
We have murdered millions of unborn children, we have stolen wealth from future generations, we are putting an entire current generation into slavery to the government, we have broken the seventh commandment by perverting marriage—to the point of even pretending perversion is normal.
Basically, we have chosen to ignore God. We are Jerusalem in 586 BC, We are Rome in 476, We are Constantinople in 1453.
Repentance is our only option, and may God’s Mercy be upon us. None of us DESERVE it in our individual lives, and as a nation we SURE don’t deserve it.
Quite frankly, after 6+ years of obamanomics I’m surprised it took this long.
Thanks Barry!!! America is number two!!! You got your wish, boy!!!
When they elect a leader that is #2 it doesn’t take long to turn the whole country into #2. If we had a qualified leader he would demand that they move the UN to China and let them pay for it all.
China’s currency has gone up an average of 3 percent a year for the last decade (7 percent in 2008). It appreciates in value, while the dollar doesn’t. China pays higher interest rates than most countries, and has a high credit rating. You know the story about the U.S.A. under Obama’s rule. Gee thanks Obama for screwing us and helping China.
Pretty hard to compete against a billion or more slaves.
Economic development is good for everyone, whether it happens here, in China, or anywhere else. Any modern, developed country should have a national production that is both comparable to other developed nations and proportional to its population. By that standard, once China set out on that path, it was inevitable that they would soon overtake our economy in terms of its gross national production. However, on a per-capita basis, they still have a ways to go.
To fix it, just lower taxes, reduce regulations, stop inflation, reduce government interventionism, reduce redistributionism, reduce egalitarianism, reduce gov. borrowing, reduce gov. budget deficits, reduce gov. spending,reduce social engineering, reduce cental planning, reduce environmentalism,stop the war against the rich, stop the war against profits. In other words increase freedom and rationality and stop libtardism.
We probably buy more of their goods than anyone. Of course, if we had a sensible tariff that kept their goods on a par with our own, that might might not have happened.
I don’t understand how this is a big deal. First, China has close to 5x the population, meaning this is another way of saying the average Chinese makes 1/5 the average American. Second, the US hasn’t been the highest income country for a while now - it’s ranked #10, behind a bunch of tax havens and oil producers. Third, once China adopted capitalism in 1979, calling it “socialism with Chinese characteristics”, but dismantling collectives, legalizing private property and leaving production decisions to private entrepreneurs and state-owned enterprises with employees paid bonuses based on profits, it was bound to catch up to some extent.
You can thank a lot of people, unfortunately, including many business ‘leaders’.
IMHO there has been little vision in the US business community for way too long. Instead of ‘where will we be in 5years or 10 years?’, and ‘how can we shape the future?, it's been ‘how can we make our numbers look good next quarter?’. The ‘instant gratification’ approach by day traders and ‘get rich quick’ investors in the markets has contributed to this emphasis on ‘the next quarter’, and has left us without a creative longer term strategy.
For too long now we have been living in a society in which too many think ‘how can I get mine before it all falls apart?’, and this includes some workers, those who don't work because they don't want to (and are gaming the system), and those on the higher rungs of the food chain who have no loyalty to anything other than what they perceive will benefit them. It's a cancerous attitude that has pervaded our culture.
We owe our children better.
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