Posted on 06/22/2013 8:04:29 AM PDT by blam
10 Reasons Why America Will Continue To Dominate The Global Economy For Years
Steven Perlberg
Jun. 22, 2013, 7:08 AM
Flickr / Tambako the Jaguar
The U.S. economy is in recovery mode right now.
Sure, investors have been spooked by Fed taper talks, the Bank of Japan's unprecedented economic experiment, persistent jitters out of Europe, and concerns of a credit crisis in China.
But by in large, investors should be pleased with the way things are going domestically, according to a new report from Joseph Quinlan, Chief Market Strategist for U.S. Trust.
We walk you through U.S. Trust's 10 theses that show "what's right with America."
1) The U.S. economy is the largest and most productive in the world - The U.S. accounts for one-fifth of global GDP with only 4.5% of the world's population. America's economy is nearly twice the size of China's in nominal dollars. Plus, the U.S. is one of just a few developed countries with real GDP higher than it was before the crisis, according to the report.
U.S. Trust
2) The U.S. leads the world in manufactured goods - Nominal manufacturing output totaled $1.9 trillion in 2012, a rise of 27% from 2009. Employment in the sector has increased by 500,000 workers since 2010, according to U.S. Trust.
U.S. Trust
3) The U.S. is among the largest exporters of goods and services - Exports since the recession have taken off. In 2012, total exports totaled $2.2 trillion, nearly a 40% rise from 2009 levels, according to the report.
U.S. Trust
(snip)
(Excerpt) Read more at businessinsider.com ...
Obama just added ten things to his “To Un-Do List”.
cause as bad off as we are... the rest are worse???
Things will continue to spiral downward until America repents.
2 CHRONICLES 7:14
If MY people, who are called by MY name, will humble themselves and pray and seek MY face and turn from their wicked ways, then I will hear from heaven, and I will forgive their sin and will heal their land.
“Righteousness exalts a nation”....we have long ago abandoned any resemblance of righteousness...so we are seeing the results of no longer being a nation under God.
Grammar police! It's "by AND large."
I thought it was buy in large. Like buy bulk to save in the long run.
: 0
BUNK.
China’s economy has now caught America’s and is growing.
China has a massive closed economy. Yet we send our very own manufacturing there, in 51/49 all-Chinese ventures which eliminate the American worker.
China’s unemployment rate is now (far) lower than America’s.
China, not America is the global economic force, and we are haphazardly making excuses for China’s predatory economic policies, while still sending American jobs there.
What we are doing now, is insane.
BRING BACK AMERICAN JOBS.
http://www.phrases.org.uk/meanings/by-and-large.html
It’s a old nautical term. “Large” means with the wind and “by” means against the wind. In other words, if a ship can sail “by and large” it can sail against the wind or with the wind. In other words, ‘for the most part,’ or ‘generally,’ or ‘on the whole,’ or ‘mostly,’ or ‘usually.’
“Buy in large,” while a good idea, doesn’t usually fit the context of the sentence.
Nice - thanks
No it isn't.
International payments always balance, and the total of everything sold to foreigners is always equal to the total of what's bought. So there's no getting around the fact that Americans export far more goods'n'services than the rest of the world does, and it's even better that we can also sell other stuff so we can import still more.
Balance of payments is an accounting construct, similar to a balance sheet. It does have to balance. But a balance sheet can balance despite you being insolvent. Your debt can far exceed your assets and the difference will appear as negative equity. That a balance sheet balances, does not mean everything is okay.
Similarly balance of payments in international goods will always balance, because every transaction has two sides. But it doesn’t mean everything is good or healthy with the economy. We have a large trade good deficit. Balance of payments is balanced only because we sell a lot of government debt, corporate debt and ownership of our industries to China every year.
Your chart ends in 2009.
True, the chart in the article covered 2008 till present.
True, the chart in the article covered 2008 till present.
Old data...
China is now out-exporting America.
And growing.
We're insolvent?
Similarly balance of payments in international goods will always balance, because every transaction has two sides.
Excellent! Now you see why the trade deficit is such a silly number to whine about.
But it doesn’t mean everything is good or healthy with the economy.
Well, Obama is President and government grows ever larger, so that is a problem.
Balance of payments is balanced only because we sell a lot of government debt, corporate debt and ownership of our industries to China every year.
Well, if Americans saved a lot more and the government spent a lot less, that wouldn't be an issue.
Giving the government more money, thru higher tariffs, isn't going to reduce government spending, is it?
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