I read the news yesterday. It is interesting to see the reactio

of the Americans online

Funny remarks:
"We are doomed, Until next year when our oil exports put us back at #1."

"Sure, and as long as the U. S. Consumer keeps buying China's stuff, it will get bigger and bigger than the U. S."

"Wait ill petrodollars are no longer the standard. Better teach your children mandarin... "

"Funny, wife & I were discussing making sure our 15 month old son down the road learns Mandrin to have him better equipped for his future."

"Wanted to buy a big foam finger with the number 2 on it, but it was made in China, doesn't feel right."

"lets keep electing Ivy Leaguers.  They've done an admirable job managing our economy!"

"If everyone In China creates $1.49 in GNP.... they become the worlds's largest economy by default."


Dismissive remarks:
"Wasn't Japan #1 for awhile back in the 80s or 90s?"

"It's meaningless.  Based on population they should be 4x our GDP.  China has so many long term structural , demographic and environmental problems their standard of living will be below ours for the Rest of our lives.  Fairly meaningless."

"I don't give a shit."

"I'm no expert but there are 3 major factors below the headlines that need to be taken into consideration:

1. Most of their jobs/work and product output are not the type of jobs we would want. I realize this is a gross over-generalization, so forgive me.

2. The whole currency pegging thing.

3. Their economy is grossly inflated by the amount of artificially mandated building and infrastructure projects that are being done to keep the economy humming and to prevent a revolution and keep the masses relatively happy.

Safe to say that their quality of life ranking is about 150 spots below ours. They are going to have serious challenges in keeping their economy propped up and feeding their people in the future. And if they are not able to, they risk domestic issues that would make Russia look like Norway."

"China is a mess.  malinvestment squared, but their economy will eventually be bigger than the US. they have a lot more people. just math"

"China's the #1 economy now?  It's amazing what slave labor, colonialism and little regard for human rights can do." 
  
"And quite frankly, there are bigger issues than figuring out which nation is going to manipulate themselves into winning the gold."
 

Serious/educational remarks:
"1.4 billion to 322 million people"

"The large corporations spend about 3 1/2 billion a year on lobbyists and a lot more on political donations. In return they get to do things like offer contracts on cars with 4% interest rate and 20 pages into the contract in tiny letters they are allowed to call it a preliminary interest rate and a short time later they can jack the guys rate up to 20%. They use other tricks on credit cards, pay day loans, mortgages, etc.

That's one of the reasons our economy is doing poorly. By 2001 kids were more likely to have parents that declared bankruptcy than were divorced. Women were more likely to declare bankruptcy than graduate college. People were more likely to declare bankruptcy than get cancer.

People with "just" a billion dollars can't make the Forbes 400 richest Americans list anymore but the middle class is sinking.

Big business wants to fight over our political differences so that we don't focus on how they have used their power and wealth to rig the game against us."

"Actually, every post so far seems to scoff at this event as though it is meaningless. But it is very significant - to us and the entire world. The USA may recapture #1 for a moment in the next 24 months, but long term it is over. China will be 10x our economy in 20 years. Their annual economic growth rate is staggering. The fact that they have become #1 with such a low standard of living evidences the fact they have so much more room to grow - and they will.

Being the largest economic power is one of the major reasons our entry into WWII was so significant. The Germans (and Japanese - and everyone else on earth) could not match our economic output - we made more ships, planes and tanks and Germany was doomed. The fall of the Soviet Union was for similar reasons.

Well, I have news for you all. In 20 years from now - you will be living in a world where China's military makes ours look like a joke. And - if we try to match their military output - we will collapse internally just like the Soviet Union. We will not possibly be able to make the same number of carriers, and rockets etc - unless the military percentage of our economic output goes to some ridiculous percentage, leaving us with no money to spend on education, social security, bridges, roads, national parks, etc etc etc.

So, scoff all you want. This is going to change your lives. In a very, very big way."

"The same trend line analysis was used on Japan in the late 1980's and people started to panic when they bought Pebble Beach and Rockefeller Center. Today, the Japanese economy is a wreck.

IMO, the Chinese made all of the same mistakes as the Japanese plus a whole lot more. They funded their spectacular growth with bad debt. They built empty cities. They added industrial capacity that will never be used. And they built all of this capacity - capacity that will never generate cash flow - with debt that will never be paid back.

There is a reason why the wealthy Chinese are getting their money out of China in droves."

"The concern I have, as a layperson, is that there's a country the size of the US within China that basically holds all it's wealth, and it's kicking our ass right now. Granted, they're not going to have that advantage forever (thanks to the slave labor and other structural issues mentioned above).

In the meanwhile though, the Chinese are spreading that cash around the world and buying strategically, a port here, a factory there, a farm there. Won't that pay dividends and give them time to unravel some of those issues?"

"so what you guys are saying is....  building ghost cities that no one lives in ISN'T a hallmark of a thriving long-term economic picture? Weird!"



What ya say, WXC economists? 

所有跟帖： 

• this makes me recall reaper's speech in mass effect -Twinlight- ♂ (217 bytes) () 12/05/2014 postreply 06:55:10

• 看我下面的回贴。差距在那里呢。 -NYHUG- ♀ (0 bytes) () 12/05/2014 postreply 08:26:18