Just to inform you with good News: The World vs The US (Economy) - America Rejoice

[nick187]

Just wanted to bring some hope for those disappointed in the US economy. REJOICE !

http://www.theglobalguru.com/article...171&offer=GURU

The map below puts the size of the United States' global rivals in perspective. On the map, the name of each U.S. state is replaced by a country, whose GDP equals approximately that U.S. state's GSP (gross state product.) A quick glance at the map leads to some fascinating -- and unexpected -- comparisons.

Yesterday, the market capitalization of Chinese state-owned oil company, PetroChina, hit $1 trillion -- eclipsing U.S.-based rival Exxon as the world's most valuable company. Last night, at a lecture in Manhattan, I heard George Soros predict (yet again) that the unraveling of the U.S. economy had finally begun. Last week, a London-based financial newsletter called the United States "the next Argentina" -- suggesting that the U.S. economy's destiny was to echo the fate of Argentina -- a formerly prosperous nation that descended into poverty and economic chaos. It seems that anytime financial markets have a bad week or two, the global financial press readily hitches itself to the doomsday bandwagon by cheerfully predicting the demise of the U.S. economy.

At times like this, it's worth reminding ourselves that we've been here before. In the 1970s, Americans grew up with two myths. First, that the Soviet Union would dominate the U.S. militarily; second, that the Japanese would dominate the U.S. economically. With the Soviet Union erased from the map, and the Japanese stock market below levels it traded at 17 years ago, both fears seem almost quaint. Yet today, the conventional wisdom that Brazil, Russia, India, and China -- the BRIC countries -- are set to dominate the United States is just as prevalent.

In the midst of a housing collapse and credit crunch, the impending doom of the U.S. economy is taken as gospel. But look behind the headlines, and the numbers tell a different story. The U.S. economy grew by 3.9% in the credit turmoil-ridden third quarter -- following a 3.1% jump in the second quarter. That means that the United States added the equivalent of a new Saudi Arabia to its economy just since the beginning of April. And the fact that the World Economic Forum ranked the U.S. economy the most competitive economy in the world last week got little press. And even when it did, the #1 ranking of the United States was explained away as a statistical mirage.

Despite the high economic growth rates of developing nations, the United States is by far the world's wealthiest nation as measured by GDP -- the broadest measure of economic wealth. And the rest of the world isn't even close. This year, U.S. GDP is projected to be $13.22 trillion. That means that the U.S. economy is as large as the next four-largest economies in the world -- Japan, Germany, China, and the United Kingdom -- combined.

Standing alone as a country, California would be the eighth-largest economy in the world and approximately the size of France. Texas' economy is half the size of California's and its GSP compares to that of Canada. Florida's GSP is approximately the size of Asian tiger South Korea. Illinois' economy is approximately the size of Mexico. Ohio's economy is roughly the size of Australia's. Tennessee's GSP is the size of Saudi Arabia; Nevada, the size of Ireland; Alabama's economy is the size of Iran. Bill Clinton's home state of Arkansas, one of the poorest states in the United States, is approximately the size of Pakistan's economy.

In 1790, the United States was a new, tiny nation of 4 million, about the size of Ireland today. Europe's population was 180 million, while India's was 190 million and China's was 320 million. Only seven cities had a population of 5,000 or more; just 12 had a population above 2,500. The United States had an agricultural economy with practically no factories. By 1885, the United States was #1 in the world in manufacturing. It produced almost 30% of the world's manufactured goods to outpace both the British Empire and the spanking new Germany. Into the 21st century, the cutting edge of global industries -- whether Silicon Valley, Hollywood, or Wall Street -- are still products of the U.S economic experiment.

Underestimating the U.S. economy has become the new global financial sport. Yet the Japanese economy has not matched U.S. growth rates for at least the last decade. Europe celebrates triumphantly when its growth rate hits 2.5%. And for all the press they generate, China and India rank 34th and 48th, respectively in the World Economic Forum's global competitiveness index. The world has been counting out the United States as far as I can remember. The U.S. economic map provides a vivid reminder of just where the U.S. stands.

Just here to spread some truism. cheers. Peace.

[seanb1979]

i do not see glorious Kazakhstan, number one exporter of potassium and cleanest prostitutes in the land (except of course Uzbekistan)

[ExclusiveStarr]

i do not see glorious Kazakhstan, number one exporter of potassium and cleanest prostitutes in the land (except of course Uzbekistan)

Hahaha. . .cleanest prostitutes in the land? That made me choke on my water.

[KyleAaron]

When we consider an individual's wealth, we consider not only their income (GDP/GSP), but their assets and liabilities.

Looking at the USA's neglected assets (see for example the railway and canal network) or declining assets (lots of oil being pumped up or coal dug up and burned, gone forever), and compare them to its liabilities (large debts, entangled in foreign conflicts), the picture looks not so rosy.

And whatever the overall picture, that does not change things for the individual. I think perhaps the almost one in six Americans on food stamps would not be cheered by your article and map.

Not sure how this is a "female misc" topic, however. Seems like you just wanted to spam some propaganda.

[MentalAssasin]

When we consider an individual's wealth, we consider not only their income (GDP/GSP), but their assets and liabilities.

Looking at the USA's neglected assets (see for example the railway and canal network) or declining assets (lots of oil being pumped up or coal dug up and burned, gone forever), and compare them to its liabilities (large debts, entangled in foreign conflicts), the picture looks not so rosy.

And whatever the overall picture, that does not change things for the individual. I think perhaps the almost one in six Americans on food stamps would not be cheered by your article and map.

Not sure how this is a "female misc" topic, however. Seems like you just wanted to spam some propaganda.

GTFO, you insipid Australian. First of all, it's the female misc. You're ostensibly not a female. Second of all, America is the strongest country in the world. Has been for 100 years or so. Period. Our military is better than the entire world combined. Combined. Our economy is the largest in the history of the world. We have the most fortune 500 companies by a wide margin. Ever drink Coke? Ever eat McDonald's, KFC, Wendy's, etc? Ever wear Nike? Ever use a COMPUTER? Ever fly in a PLANE?

Looking at the USA's neglected assets (see for example the railway and canal network) or declining assets (lots of oil being pumped up or coal dug up and burned, gone forever), and compare them to its liabilities (large debts, entangled in foreign conflicts), the picture looks not so rosy.

Railway and canal network are neglected? WTF are you talking about? You aren't impressing any women on here, because you're an idiot.

[illiniStrive]

Is this only GDP? Yeah we know our economy is huge, DUH.

Anyone with even a basic econ knowledge knows that GDP is far from telling the whole story. GDP per capita is more telling. For example, the Netherlands may have the GDP of roughly Pennsylvania, but their average standard of living in many respects is MUCH MUCH better than than the average in the US.

[MentalAssasin]

For example, the Netherlands may have the GDP of roughly Pennsylvania, but their average standard of living in many respects is MUCH MUCH better than than the average in the US.

LMFAO. No. Just no. We have the highest SoL in the world. Best doctors, best and most abundant meds, anything for which one could ever ask, etc.

[seanb1979]

[NOVA888]

lol ^^^

[bokito1]

LMFAO. No. Just no. We have the highest SoL in the world. Best doctors, best and most abundant meds, anything for which one could ever ask, etc.

who cares if you have best doctors if a hospital bill for a simple appendix removal would bankrupt most people.

i went for a hospital checkup today to rule out pneumonia, had a chest x-ray done some blood tests and an evaluation - do you know how much i paid for it not having insurance?
$60.

in the USA you would be charged a few thousand for the same thing.

[MentalAssasin]

who cares if you have best doctors if a hospital bill for a simple appendix removal would bankrupt most people.

Not if they have insurance.

[MentalAssasin]

lol ^^^

You've replaced your sexy pics with pics of your feet.

[seanb1979]

Not if they have insurance.

have you filed many claims? im 0/2 on claims ive filed... they get tied up in courts for years and can be nightmares

[bokito1]

besides insurance decides when and what doctors you see, what meds youre prescribed itp

you cant just go for a checkup whenever you feel like it, I can.

in the US insurance wont cover everybody either, good luck getting a policy for example if you used steroids in the past.