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Why America's economy is soaring ahead of its rivals

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Re: Why America's economy is soaring ahead of its rivals

#31

Post by spiderfarmer »

roenxi wrote: post #14

This is an interesting take, because it contrasts with GDP PPP [0] which is suggesting that America is in fact being overtaken by its rivals although it has managed to outpace the EU. China is claiming to already be ahead and India is well on track to gain absolute economic ascendancy relative to the US. And I expect that Asia is going to start developing some serious military muscle on the back of that because they…

The EU is number one in quality of life and that’s all that matters to me. If we work just hard enough to maintain and maybe even improve it, other countries can do their pissing contest.

Re: Why America's economy is soaring ahead of its rivals

#32

Post by WalterBright »

dymk wrote: post #12
WalterBright wrote: post #8

Earlier quoted context omitted.

If you save & invest for retirement, you'll be fine.

And have no major health issues/accidents, and be quite lucky, and start with a lot of money in the first place, and be born in the right place in the country.

America was populated by millions of immigrants, nearly all of them poor with little more than a suitcase.

Welfare and social programs did not make them successful. Opportunity did.

Even Elon Musk arrived with just a suitcase. He stayed in hostels because of lack of money.

Re: Why America's economy is soaring ahead of its rivals

#33

Post by WalterBright »

danielbln wrote: post #27
WalterBright wrote: post #4

> the improvement was largely down to reconstruction efforts partly funded by the US via the Marshall Plan Most of the improvement was in Germany, which received far less MP money than Britain and France. Postwar prosperity correlates with the level of free markets. Germany embraced free markets up until 1970, Britain and France did not.

Saying Germany embraced the free market is not correct. Germany under Erhard had a social market economy (even during the "Wirtschaftswunder*, the economic miracle). While some free market principles were followed (price liberation, free trade) and it was certainly more market liberal than France at the time, it still came with substantial protection (universal healthcare, strong labor protections and unions, anti mo…

Nobody claimed it was a 100% free market. But it was quite a bit more free than the other MP recipients. And the results showed.

Re: Why America's economy is soaring ahead of its rivals

#34

Post by spiderfarmer »

fxtentacle wrote: post #23

It's thanks to innovative business models, of course! Increasing you investment efficiency with FTX. Reducing farmer idle time with Deere. Sharing your otherwise unused car with Uber. Revolutionising office productivity with technology, like those beer taps that WeWork had. Spending less time on your savings with Yotta. Not reading long emails with AI. I wonder how high productivity actually turns out if you remove e…

Also, ask the poor how satisfied they are with the GDP.

Re: Why America's economy is soaring ahead of its rivals

#35

Post by danielbln »

WalterBright wrote: post #33
danielbln wrote: post #27

Earlier quoted context omitted.

Saying Germany embraced the free market is not correct. Germany under Erhard had a social market economy (even during the "Wirtschaftswunder*, the economic miracle). While some free market principles were followed (price liberation, free trade) and it was certainly more market liberal than France at the time, it still came with substantial protection (universal healthcare, strong labor protections and unions, anti mo…

Nobody claimed it was a 100% free market. But it was quite a bit more free than the other MP recipients. And the results showed.

Definitely, just wanted to make sure that no one who's passing by your comment thinks that post-war Germany had some gung ho modern definition style free market.

Re: Why America's economy is soaring ahead of its rivals

#36

Post by ragebol »

spiderfarmer wrote: post #31
roenxi wrote: post #14

This is an interesting take, because it contrasts with GDP PPP [0] which is suggesting that America is in fact being overtaken by its rivals although it has managed to outpace the EU. China is claiming to already be ahead and India is well on track to gain absolute economic ascendancy relative to the US. And I expect that Asia is going to start developing some serious military muscle on the back of that because they…

The EU is number one in quality of life and that’s all that matters to me. If we work just hard enough to maintain and maybe even improve it, other countries can do their pissing contest.

Quality of life costs money, and if we're not competitive, sooner or later that money will run out.

Re: Why America's economy is soaring ahead of its rivals

#37

Post by Cumpiler69 »

ragebol wrote: post #36
spiderfarmer wrote: post #31

Earlier quoted context omitted.

The EU is number one in quality of life and that’s all that matters to me. If we work just hard enough to maintain and maybe even improve it, other countries can do their pissing contest.

Quality of life costs money, and if we're not competitive, sooner or later that money will run out.

It's crazy how so many people don't get this basic economic fact and think public welfare in EU just rains from the sky for free. No, EU welfare state is not some magical hack nobody else thought of, it's just paid from the working class' wages and then redistributed to those in need.

Without innovations and highly profitable industries generating well paying working class jobs, with what will you pay for that welfare and quality of life? Billionaires and corporations certainly aren't gonna pay for it out if their profits, so the working class has to. But if the working class has no more high paying wages anymore due to stagnating growth , then your welfare budget also goes bye-bye.

You can't just vote yourself more welfare and higher public sector salaries and pensions out of thin air without an economic growth to back that up. I mean, you technically can, but it doesn't end well as was proven every single time this was tried.

Re: Why America's economy is soaring ahead of its rivals

#38

Post by egeozcan »

spiderfarmer wrote: post #31
roenxi wrote: post #14

This is an interesting take, because it contrasts with GDP PPP [0] which is suggesting that America is in fact being overtaken by its rivals although it has managed to outpace the EU. China is claiming to already be ahead and India is well on track to gain absolute economic ascendancy relative to the US. And I expect that Asia is going to start developing some serious military muscle on the back of that because they…

The EU is number one in quality of life and that’s all that matters to me. If we work just hard enough to maintain and maybe even improve it, other countries can do their pissing contest.

Life in the EU is amazing for me, and probably for you too, as well as many others enjoying it here. However, we can't overlook the struggles of those who are turning to radical populist parties.

Re: Why America's economy is soaring ahead of its rivals

#39

Post by fxtentacle »

spiderfarmer wrote: post #34
fxtentacle wrote: post #23

It's thanks to innovative business models, of course! Increasing you investment efficiency with FTX. Reducing farmer idle time with Deere. Sharing your otherwise unused car with Uber. Revolutionising office productivity with technology, like those beer taps that WeWork had. Spending less time on your savings with Yotta. Not reading long emails with AI. I wonder how high productivity actually turns out if you remove e…

Also, ask the poor how satisfied they are with the GDP.

Or ask farmers about the DRM technology that locks them out of their tools ...

Re: Why America's economy is soaring ahead of its rivals

#40

Post by croes »

mytailorisrich wrote: post #20

This has been the case for decades now. The US economy is much more dynamic than Europe's and the US government is actually more willing to intervene (and can afford it because of US dollar). In Europe it is austerity and general less support for economy-boosting policies.

So the US economy is built on debt
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