OBOMINATION: China Poised To Pass U.S. As Leading Economic Power This Year...

[paulitician]

Nice job Mr. President. Record poverty, record debt, credit downgrades, skyrocketing food & gas prices, and now this. Tell me again how the Dear Leader is saving the World.


The US is on the brink of losing its status as the world’s largest economy, and is likely to slip behind China this year, sooner than widely anticipated, according to the world’s leading statistical agencies.

The US has been the global leader since overtaking the UK in 1872. Most economists previously thought China would pull ahead in 2019.

The figures, compiled by the International Comparison Program hosted by the World Bank, are the most authoritative estimates of what money can buy in different countries and are used by most public and private sector organisations, such as the International Monetary Fund. This is the first time they have been updated since 2005.

After extensive research on the prices of goods and services, the ICP concluded that money goes further in poorer countries than it previously thought, prompting it to increase the relative size of emerging market economies.

The estimates of the real cost of living, known as purchasing power parity or PPPs, are recognised as the best way to compare the size of economies rather than using volatile exchange rates, which rarely reflect the true cost of goods and services: on this measure the IMF put US GDP in 2012 at $16.2tn, and China’s at $8.2tn.

Read More:
China poised to pass US as world?s leading economic power this year - FT.com
DRUDGE REPORT 2014®

 

[Edgetho]

With dimocraps in charge, is anybody surprised?

You ain't seen nothing yet. Just wait.

Soon, the sheeple will panic and elect Republicans to try to fix the problems but, guess what dumb-fucks?

All the King's Horses And All the King's Men......

This Country is FUCKED. And dimocrap scum are 100% the reason why. Not 99.9% -- 100%

Wait, you'll see.

There's only one way to save it, and that ain't gonna happen.

 

[paulitician]

With dimocraps in charge, is anybody surprised?

You ain't seen nothing yet. Just wait.

Soon, the sheeple will panic and elect Republicans to try to fix the problems but, guess what dumb-fucks?

All the King's Horses And All the King's Men......

This Country is FUCKED. And dimocrap scum are 100% the reason why. Not 99.9% -- 100%

Wait, you'll see.

There's only one way to save it, and that ain't gonna happen.

Yeah, his followers keep telling us he's saving the World. But i just don't see it. He's actually created quite a mess. Future generations will be dealing with his awful mess for many many years.

 

[Lovebears65]

We have been number one since the late 1800 and in 5 yrs Obama has made this country a financial mess. I heard if not for Obamacare spending out growth would be in the negatives. I cant remember where I heard it , it was on the radio but I cant remember who said it

Nice job Mr. President. Record poverty, record debt, credit downgrades, skyrocketing food & gas prices, and now this. Tell me again how the Dear Leader is saving the World.


The US is on the brink of losing its status as the world’s largest economy, and is likely to slip behind China this year, sooner than widely anticipated, according to the world’s leading statistical agencies.

The US has been the global leader since overtaking the UK in 1872. Most economists previously thought China would pull ahead in 2019.

The figures, compiled by the International Comparison Program hosted by the World Bank, are the most authoritative estimates of what money can buy in different countries and are used by most public and private sector organisations, such as the International Monetary Fund. This is the first time they have been updated since 2005.

After extensive research on the prices of goods and services, the ICP concluded that money goes further in poorer countries than it previously thought, prompting it to increase the relative size of emerging market economies.

The estimates of the real cost of living, known as purchasing power parity or PPPs, are recognised as the best way to compare the size of economies rather than using volatile exchange rates, which rarely reflect the true cost of goods and services: on this measure the IMF put US GDP in 2012 at $16.2tn, and China’s at $8.2tn.

Read More:
China poised to pass US as world?s leading economic power this year - FT.com
DRUDGE REPORT 2014®

 

[paulitician]

More dismal news...


U.S. Homeownership Rate Falls to the Lowest Since 1995

The homeownership rate in the U.S. declined to the lowest in almost 19 years as rising property prices and mortgage rates held back demand.

The share of Americans who own their homes was 64.8 percent in the first quarter, down from 65.2 percent in the previous three months, the Census Bureau said in a report today. The rate is the lowest since the second quarter of 1995, when it was 64.7 percent...

More:
U.S. Homeownership Rate Falls to the Lowest Since 1995 - Bloomberg
DRUDGE REPORT 2014®

 

[BlindBoo]

China's Economy Could Be Bigger than America's | TIME.com

In coming years, we’ll hear a lot about the size of China’s economy surpassing that of the United States. The latest prediction is out from the Centre for Economics and Business Research, which says that the Chinese economy will grow larger than America’s in 2028.

How can these estimates be so far apart?

And in terms of economic output per capita, the U.S. is way ahead of China by a factor of more than 8. That’s because there are far fewer Americans than Chinese, so even if Chinese output equals America’s, there’s a lot fewer people here that must share in it. In other words, the average American is far wealthier than the average Chinese, and will be for many years to come.

 

[Mustang]

More dismal news...


U.S. Homeownership Rate Falls to the Lowest Since 1995

The homeownership rate in the U.S. declined to the lowest in almost 19 years as rising property prices and mortgage rates held back demand.

The share of Americans who own their homes was 64.8 percent in the first quarter, down from 65.2 percent in the previous three months, the Census Bureau said in a report today. The rate is the lowest since the second quarter of 1995, when it was 64.7 percent...

More:
U.S. Homeownership Rate Falls to the Lowest Since 1995 - Bloomberg
DRUDGE REPORT 2014®

Yeah, everything was fine until Obama was elected and then took office...unless the facts about what really happened and how it all unfolded are important to you, that is.

 

[bendog]

Cleary Obama's fault. Good OP. (-:

 

[Katzndogz]

China embraced free market capitalism even as the US was rushing headlong into communism. Putin tried to warn obama but black knows best.

 

[kidrocks]

China embraced free market capitalism even as the US was rushing headlong into communism. Putin tried to warn obama but black knows best.

Your racism is showing.

 

[kidrocks]

China embraced capitalism and is doing a fine job. Making American capitalists look stupid. China owns the U.S.

LOL... and I love it!

 

[Mustang]

China embraced free market capitalism even as the US was rushing headlong into communism. Putin tried to warn obama but black knows best.

^ Rhetorical nonsense. If anything, the US is now more in the grips of Big Business and corporate interests than it has been at any time since around the time of the the gilded age as BOTH political parties now jump at lobbyists' demands even as union membership and influence is one the wane. If the bailout that rescued the guilty banks and bankers while sacrificing the innocent homeowners and American workers didn't teach you that, then nothing I say will probably make any difference. America is now more of an oligarchy which is essentially being run by a clique of unelected people than at any time in the last 100 years. If anything, President Obama is fighting a losing rear guard action against these people even as he's forced to play their game. Putting a conservative into the office of president at this point would be like taking a foot off the brakes of a runaway train.

 

[Katzndogz]

Sadly even as we lose, liberals still won't know why.

 

[Katzndogz]

Pfizer is closing up shop in the US and moving to England. They have had it with our taxes. The highest in the world. We may never recover from obama.

 

[Mustang]

Pfizer is closing up shop in the US and moving to England. They have had it with our taxes. The highest in the world. We may never recover from obama.

LOL! Pfizer will continue to do business in the US which, if I'm not mistaken, is the most profitable market in the entire world for the sale of pharmaceuticals.

 

[RandallFlagg]

Sadly even as we lose, liberals still won't know why.

I have to respectfully disagree here. liberal Nazis know EXACTLY why and they celebrate it. They rejoice when America takes it on the chin. Look at the posts above.

These are worthless, pathetic creatures that, I hope, one day experience the "Chinese way" of handling dissent - taken to a field, forced to kneel and receive a bullet to the back of the head.

 

[DigitalDrifter]

Christ this is sickening.
I've been dreading this for quite some time, but I did not realize it was going to be happening this year.

And people wonder why so many of us hate this bastard ?

I won't blame it entirely on this administration, but wouldn't you know a liberal would be in charge the same fucking year a whole new government entitlement gets started, and we lose the economic position in the world we've held since the 1870's.
Add to that, while this piece of crap was in charge, this country no longer has a way, other than the embarrassment of hitching a ride with the Russians, to put Astronauts in space.

Obama, you truly are an embarrassment and an utter failure as a leader.

 

[RandallFlagg]

Christ this is sickening.
I've been dreading this for quite some time, but I did not realize it was going to be happening this year.

And people wonder why so many of us hate this bastard ?

I won't blame it entirely on this administration, but wouldn't you know a liberal would be in charge the same fucking year a whole new government entitlement gets started, and we lose the economic position in the world we've held since the 1870's.
Add to that, while this piece of crap was in charge, this country no longer has a way, other than the embarrassment of hitching a ride with the Russians, to put Astronauts in space.

Obama, you truly are an embarrassment and an utter failure as a leader.

Contrary to popular belief this DID NOT start with Barry - he has merely exasperated the problem. He doesn't believe in Capitalism and he doesn't support private enterprise. However, when employers began shipping factories and, more importantly, JOBS to China - and hell, even Japan before that, America stood by and did nothing.

Companies used pennies per hour labor to manufacture their products then ship the products back here and make huge profits. Where our GOVERNMENT (whether republican or democrat) went wrong was by not imposing HUGE tariffs on the returning products - to the point of making it "untenable" to remain overseas.

Americans believed the propaganda fed to us that " this will make products for the American consumer cheaper" which, of course, turned out to be hogwash. When was the last. time you paid LESS for anything that was manufactured in Red China?

China became a giant and America began it's decline, once again, to an "also ran" country. Congratulations.

 

[Indofred]

Employees Protest Bain, Romney As Their Jobs Are Outsourced To China

Sensata Technologies, an Attleboro, Massachusetts-based sensor manufacturer, is mostly owned by Bain Capital. As the company prepares to replace workers at an Illinois plant by offshoring jobs to China, soon-to-be laid off workers have been protesting both Bain Capital and the corporate values instilled by the company’s former CEO, Mitt Romney.

The truth is a bitch and, in this case, the truth is ....
The republicans are sacking American workers and sending their jobs to China.

 

[RandallFlagg]

Employees Protest Bain, Romney As Their Jobs Are Outsourced To China

Sensata Technologies, an Attleboro, Massachusetts-based sensor manufacturer, is mostly owned by Bain Capital. As the company prepares to replace workers at an Illinois plant by offshoring jobs to China, soon-to-be laid off workers have been protesting both Bain Capital and the corporate values instilled by the company’s former CEO, Mitt Romney.

The truth is a bitch and, in this case, the truth is ....
The republicans are sacking American workers and sending their jobs to China.

And of course a democrat has never done the same, right? Idiot.