Why America's economy is soaring ahead of its rivals

Post by giantg2 » Wed, Dec 04, 2024, 11:14 PM UTC

jandrewrogers wrote: post #386

luizfzs wrote: post #255

But is the majority of the population thriving? It is very misleading (at best) to say the economy is strong when a good chunk of the population live paycheck to paycheck. A handful of companies are thriving, but barely any of its employees.

US Federal Reserve studies indicate that the percentage of US households with no excess income after necessary expenses (as distinct from "ordinary expenses" as a term of art) is on the order of 10-15%. This definition roughly matches most people's intuition of what "living paycheck-to-paycheck" means. That isn't nothing but it implies 85-90% of Americans are not actually living paycheck-to-paycheck. There is another…

Post by bmitc » Wed, Dec 04, 2024, 11:15 PM UTC

jandrewrogers wrote: post #386

luizfzs wrote: post #255

But is the majority of the population thriving? It is very misleading (at best) to say the economy is strong when a good chunk of the population live paycheck to paycheck. A handful of companies are thriving, but barely any of its employees.

US Federal Reserve studies indicate that the percentage of US households with no excess income after necessary expenses (as distinct from "ordinary expenses" as a term of art) is on the order of 10-15%. This definition roughly matches most people's intuition of what "living paycheck-to-paycheck" means. That isn't nothing but it implies 85-90% of Americans are not actually living paycheck-to-paycheck. There is another…

Post by roncesvalles » Wed, Dec 04, 2024, 11:16 PM UTC

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.

Post by sangnoir » Wed, Dec 04, 2024, 11:16 PM UTC

grogenaut wrote: post #399

sangnoir wrote: post #291

Earlier quoted context omitted.

> But is the majority of the population thriving? Looking at the numbers: low unemployment, strong consumer spending, average income increasing at a rate higher than inflation, I'd say the majority is doing better than most years. They might not feel that way though, and we've been in a continuous vibes-cession since COVID.

People seemed to vote on how they felt not what these numbers said. So the vibes seem more valid than the stats at least on their real world impact in many ways. Continuing to yell at people about the numbers doesn't seem to be an effective strategy, maybe try a different approach?

Post by jasinjames » Wed, Dec 04, 2024, 11:20 PM UTC

pests wrote: post #345

0xBDB wrote: post #248

Earlier quoted context omitted.

Business law is a state issue in the U.S. The reason that the U.S. has one set of legislation (more or less) is that 50 states (well, 49) have voluntarily adopted the Uniform Commercial Code. There is absolutely nothing stopping Europe from doing the same or similar except lack of political will.

Which state hasn't? I thought all states have adopted it with their own variations / changes.