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American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011

 
mrclean
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11/30/2012 07:50 AM
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American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
useconomy101


Creating the illusion of economic growth is easy if you can print money. It’s a prank you can play on an entire country. Cut the value of the currency in half and the economy’s size will appear to double.

The only way to accurately measure changes in a nation’s economy is to do so relative to the world (see Notes for non-nerds below before protesting). According to the World Bank, the U.S. represented 31.8% of the world’s economic activity in 2001. By the end of 2011, that share had dropped to 21.6%, meaning America’s slice of the world economy is 32% smaller than it was a decade ago, and getting smaller every day. Note that America’s housing bubble did nothing to boost the U.S. on the global stage.

[link to acrossthestreetnet.wordpress.com]


Let's see how much the government can print this month and lie to us about how well we're all doing! Weeeeeeee
mrclean
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11/30/2012 08:26 AM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
Crimal Government gives you total chaos.
Anonymous Coward
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11/30/2012 08:27 AM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
ops, criminal*
stormer

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11/30/2012 08:27 AM

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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
flush
Emancipate yourselves from mental slavery - Bob Marley
Anonymous Coward
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11/30/2012 08:34 AM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
That sounds about right
We have been on a decline

[link to www.dailyjobcuts.com]

.
Anonymous Coward
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11/30/2012 08:36 AM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
:useconomy101:


Creating the illusion of economic growth is easy if you can print money. It’s a prank you can play on an entire country. Cut the value of the currency in half and the economy’s size will appear to double.

The only way to accurately measure changes in a nation’s economy is to do so relative to the world (see Notes for non-nerds below before protesting). According to the World Bank, the U.S. represented 31.8% of the world’s economic activity in 2001. By the end of 2011, that share had dropped to 21.6%, meaning America’s slice of the world economy is 32% smaller than it was a decade ago, and getting smaller every day. Note that America’s housing bubble did nothing to boost the U.S. on the global stage.

[link to acrossthestreetnet.wordpress.com]


Let's see how much the government can print this month and lie to us about how well we're all doing! Weeeeeeee
 Quoting: mrclean


Presuming there is no such thing as mutual economic growth then you might have a point.

That does not change the fact that the graph is rather misleading. What's wrong with making a graph starting at 0% instead of at 21%?
davvi

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11/30/2012 08:47 AM

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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
i was reading an article aboout the major networks NOT reporting the gdp decline and the articles position was that the this was another incidence where the network protected Ovomit. probably partially correct but how many people's, including myself, eyes glaze over when the conversation turns to finance?

this is what politicians depend on, an ignorant and ill-informed population who are lulled to accept anything by "free stuff."

:obhide:
A Jewish mother dreams that her son will grow up to be a doctor or, if retarded, a lawyer." --Jackie Mason

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The complete lack of evidence is the surest sign that the conspiracy is working.

Krauthammer: "If Fences Don't Work, Why Is There One Around The White House?"
Just Some Guy

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11/30/2012 08:50 AM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
I'll bet more of that statistic has to do with China and India's growth over last ten years than our output going down.
Northman

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11/30/2012 09:00 AM

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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
I'll bet more of that statistic has to do with China and India's growth over last ten years than our output going down.
 Quoting: Just Some Guy


Why bring facts into the discussion?
davvi

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11/30/2012 09:13 AM

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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
I'll bet more of that statistic has to do with China and India's growth over last ten years than our output going down.
 Quoting: Just Some Guy


oh wait india's growth has slowed to 5.3%. slowed is the operative word. obozo can't even handle half of that.
A Jewish mother dreams that her son will grow up to be a doctor or, if retarded, a lawyer." --Jackie Mason

I never give RED karma, only GREEN for great posters. If you give me red or green please leave your name, I like to say thank you...

The complete lack of evidence is the surest sign that the conspiracy is working.

Krauthammer: "If Fences Don't Work, Why Is There One Around The White House?"
Anonymous Coward
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11/30/2012 09:27 AM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
Nothing new, we all know Bush crashed the economy. Obama has been continuing most of Bush's policies, along with a few new ones, but he is no-where near as destructive as Bush was.
Anonymous Coward
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11/30/2012 09:28 AM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
i was reading an article aboout the major networks NOT reporting the gdp decline and the articles position was that the this was another incidence where the network protected Ovomit. probably partially correct but how many people's, including myself, eyes glaze over when the conversation turns to finance?

this is what politicians depend on, an ignorant and ill-informed population who are lulled to accept anything by "free stuff."

:obhide:
 Quoting: davvi


You do understand Bush was President from 2001 - 2008 right?
mrclean (OP)

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11/30/2012 09:34 AM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
Nothing new, we all know Bush crashed the economy. Obama has been continuing most of Bush's policies, along with a few new ones, but he is no-where near as destructive as Bush was.
 Quoting: Anonymous Coward 22705145


This has been going on for decades. Obama is Bush on STEROIDS. He just has the MSM to hide his 'dirty little secrets' for him. Obama has involved the USA in more wars than any other nation in history....all in the name of 'promoting peace'.

If you still believe in the left/right paradigm, frankly, you need to study a bit more. It's like WWF wrestling, they 'pretend' to hate each other for the cameras than follow the EXACT SAME agendas.

The only losers are the people.
mrclean
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11/30/2012 10:36 AM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
All of the countries wealth is being amalgamated into the hands of CEO's, Executives, and the "elite".

While this is happening the media is playing on fears which polarize us. Key words like "Unions", "liberal", "conservative", once uttered people lose all of their ability to think.

The reality is, this is the fault of the majority, since the majority is incapable of thought. Everything is suggested to us like animals, and typically we fall right into line.
HAHA
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11/30/2012 11:43 AM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
:useconomy101:


Creating the illusion of economic growth is easy if you can print money. It’s a prank you can play on an entire country. Cut the value of the currency in half and the economy’s size will appear to double.

The only way to accurately measure changes in a nation’s economy is to do so relative to the world (see Notes for non-nerds below before protesting). According to the World Bank, the U.S. represented 31.8% of the world’s economic activity in 2001. By the end of 2011, that share had dropped to 21.6%, meaning America’s slice of the world economy is 32% smaller than it was a decade ago, and getting smaller every day. Note that America’s housing bubble did nothing to boost the U.S. on the global stage.

[link to acrossthestreetnet.wordpress.com]


Let's see how much the government can print this month and lie to us about how well we're all doing! Weeeeeeee
 Quoting: mrclean


5aBush and the r-cons really FUCKED things up . And the cons keep FUCKING things up .5a
Anonymous Coward
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11/30/2012 12:26 PM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
Nothing new, we all know Bush crashed the economy. Obama has been continuing most of Bush's policies, along with a few new ones, but he is no-where near as destructive as Bush was.
 Quoting: Anonymous Coward 22705145


This has been going on for decades. Obama is Bush on STEROIDS. He just has the MSM to hide his 'dirty little secrets' for him. Obama has involved the USA in more wars than any other nation in history....all in the name of 'promoting peace'.

If you still believe in the left/right paradigm, frankly, you need to study a bit more. It's like WWF wrestling, they 'pretend' to hate each other for the cameras than follow the EXACT SAME agendas.

The only losers are the people.
 Quoting: mrclean


Obama is no worse than Bush, it's basically impossible to be worse than Bush.
As for Obama involving us in "wars", US Special Forces and Intelligence agents have been involved in nearly every major conflict since WW2, this is nothing new. The US Government injects these agents into these conflicts to insure that the interests of the USA is maintained, even in areas it shouldn't be.
The fact that you actually think we HAVEN'T been doing this is rather funny, the US will never let a conflict come and go without getting involved. Especially not in the resource rich-powder keg that is the middle east.
These are decisions the President doesn't even partake in, it's an automatic response our Military and Intelligence Agencies have adopted and will continue to use for many decades to come.

As for the "left/right paradigm comment, I can assure you I understand full well the games our political parties have been playing on the American people. The reason my comments have highlighted the destructive force Bush has been in the economy while, for all intents and purposes, ignoring Obamas hand in our ultimate demise, is because this is clearly a conservative forum. The Majority of posters on this website do buy into the left/right paradigm that you and I do not.
Had this been a Liberal website, and I had notice the major contributors to the thread were attacking Bush I would have gladly pointed out Obama's failings. However, I am not here to agree with others, I am here to help have people analyze their own political beliefs, not reaffirm their own suspicions of the "opposite" political party.
GodFrequency

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11/30/2012 12:30 PM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
The scarier version of this number is that:

The Fed is the largest buyer of treasuries.

This is the number we get while printing money and running deficits.

This is a number created by a rigged stock market consisting of high frequency trading, buying our own treasuries, buying our own mortgage backed securities, and Quantitative easing to infinity.

Between the years of 2008 and 2010 the Federal Reserve lent spent or borrowed 16 trillion dollars, and still the decline.

This number is with the United States having trillions and trillions of derivatives! More than the worlds GDP

This number is with a country that use to have the worlds reserve currency!

This number is with the big banks paying nothing in taxes, and all the corporations exempt from Obamacare.

This number would be negative if the real economic horror were to be seen.

This is the number where we were all supposedly going to be saved by keeping General Motors, and all the Big banks by bailing them all out!

Do you presume to question the great and powerful Federal Reserve?



Last Edited by GodFrequency on 11/30/2012 12:32 PM
Space Janitor
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11/30/2012 12:45 PM

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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
useconomy101


Creating the illusion of economic growth is easy if you can print money. It’s a prank you can play on an entire country. Cut the value of the currency in half and the economy’s size will appear to double.

The only way to accurately measure changes in a nation’s economy is to do so relative to the world (see Notes for non-nerds below before protesting). According to the World Bank, the U.S. represented 31.8% of the world’s economic activity in 2001. By the end of 2011, that share had dropped to 21.6%, meaning America’s slice of the world economy is 32% smaller than it was a decade ago, and getting smaller every day. Note that America’s housing bubble did nothing to boost the U.S. on the global stage.

[link to acrossthestreetnet.wordpress.com]


Let's see how much the government can print this month and lie to us about how well we're all doing! Weeeeeeee
 Quoting: mrclean


and it is almost 2013, I wonder what that extra data would look like...
put rock in geyser.
Anonymous Coward
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11/30/2012 12:56 PM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
The scarier version of this number is that:

The Fed is the largest buyer of treasuries.

This is the number we get while printing money and running deficits.

This is a number created by a rigged stock market consisting of high frequency trading, buying our own treasuries, buying our own mortgage backed securities, and Quantitative easing to infinity.

Between the years of 2008 and 2010 the Federal Reserve lent spent or borrowed 16 trillion dollars, and still the decline.

This number is with the United States having trillions and trillions of derivatives! More than the worlds GDP

This number is with a country that use to have the worlds reserve currency!

This number is with the big banks paying nothing in taxes, and all the corporations exempt from Obamacare.

This number would be negative if the real economic horror were to be seen.

This is the number where we were all supposedly going to be saved by keeping General Motors, and all the Big banks by bailing them all out!

Do you presume to question the great and powerful Federal Reserve?


 Quoting: GodFrequency


Strangely, the dollar operates as a "Triffen Good" meaning the world has a high demand for the dollar to meet trade settlements, as global trade increases so does the demand for dollars overseas. However, US Corporations have been able to manufacture a seeming increase in profits over the past 4 years or so as the fed tries to devalue the dollar against other currencies, which makes their profits measured in foreign currencies appear to increase.

So as the fed works to devalue the dollar other countries have a higher demand for dollars to settle trade, its a paradox.

These are all accounting gimmicks, our whole eCONomy runs on gimmicks now, eventually gimmicks will lose their appeal and then we can start addressing the real problems like adults, most likely when the world switches over to some other unit of account for trade settlements, bills of credit.
Anonymous Coward
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11/30/2012 01:08 PM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
GDP does not = Prosperity.

GDP = Money Moved

EX.

If American #1 mows American #2's lawn for $10 he made $10

Then American #2 shovels American #1's drive way for $10 he made $10.

No one in this situation made any money.

GDP measures the movement of money not actual growth.

If the GDP is down either the country was robbed or people are starting to save their money and become more thrifty.

The situation is Grim.
Anonymous Coward
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11/30/2012 01:20 PM
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Re: American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
I'll bet more of that statistic has to do with China and India's growth over last ten years than our output going down.
 Quoting: Just Some Guy


clappa

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