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Thanks Obama: China Officially Takes Over U.S. As Worlds Largest Economy

Jobs left this country due to the laws of supply and demand. Unions and high taxes were a big factor. Why is there no longer a textile industry in South Carolina and Georgia? Why is there no longer a commercial shipbuilding industry anywhere in the USA? Why have US steel mills closed? Answer, unions and taxes.

face it, liberal policies have destroyed much of american industry.

-The US lost most steel, auto, and electronics jobs due to Richard Nixon allowing Japan to product dump for use of southern Japan land for airbases. A Republican gave away the farm.

-Unions are American workers. STOP bashing the American worker.

-The United States ranks 16 of the 20 industrial nations for effective (actual) corporate taxes.
 
Well it was fun while it lasted but leave it up to a black president who never had any executive experience in his career to allow this to happen. Oh and don't forget under this constitutionally ineligible president the U.S. credit rating was downgraded for the first time in history. If Palin (a pure constitutional natural born Citizen) was president, none of this would have never happened.

China Overtakes US As World s Largest Economy - Business Insider
Population of China, 1.35 billion
Population of USA, 318.8 million

China has over 4 times the population of the USA and their economy is barely larger than ours. All things being equal, their economy should be way larger than ours. You can hardly blame it on Obama. I'm a conservative and your post is partisan crap.

Not in terms of GDP. Our economy is still about a third larger. Steve is using some obscure 'buying power index' tied to currency valuations that I've never heard of and to the best of my knowledge, isn't in common use.
 
-The United States ranks 16 of the 20 industrial nations for effective (actual) corporate taxes.

Yup. The raw 'tax rate' is quite high in comparison to other countries. But the actual taxes paid are behind most of the major world economies, since US tax law has so many loopholes.
 
Oh how brilliant.

A economy built upon producing the worlds plastic rubbish through cheap uneducated labor is about as secure as a house built out of staw.

Come back whining once we see Chinese cars driving on the worlds streets.
Don't criticize someone living in a glass house, when you are living in a glass house yourself. China is sitting on a construction and manufacturing bubble, and America is sitting on a financial bubble with high government debt to GDP. China might be the larger economy but it isn't a fully developed economy yet.
 
They have less regulations and lower wages... so the air is toxic and the people are barely scraping by. China is the last economic model we should examine as being a success.
I believe that's called 'racing to the bottom'.
I believe the bottom was finally reached in Bangladesh when that huge garment factory collapsed and killed all those people, mostly women tricked into practically unpaid bondage so that US retailers could sell 5 t-shirts for 5 dollars. (what a bargain!)
dont worry. there wont be any major consequences for enslaving billions around the world in the name of our capitalist victory for the few owning us all. we won't feel any pain. lol. there is hell to pay coming to us all for allowing this way of death to take over the world.
It's not that dire, sooner or later all workers feel that they deserve to be better compensated as more goods and gadgets become available in their particular shithole. I think they have already reached the limit of how little they can pay a worker for services rendered. It doesn't do us a lot of good but at least they have no further undeveloped countries with economically naive subsistence farmers willing to go to the city and work for nothing.
 
Not in terms of GDP. Our economy is still about a third larger. Steve is using some obscure 'buying power index' tied to currency valuations that I've never heard of and to the best of my knowledge, isn't in common use.
I saw a news article this morning explaining the point and methodology. I understood where it was going and by some means it made some sense. My point was more that a country with over four times our population should have a larger economy, regardless of how it is measured.
 
I see the OP's author is still wallowing in his ignorance and bigotry, no surprise. Why anyone bothered to respond is beyond me...

Oh yeah... There are plenty of things to lay at the feet of President Obama, some good, more bad (IMO), but that China has become the world's largest economy? Not one of them...

Same reason traffic slows for accidents on the opposite side of the road and faux news is number one.....We like looking at wrecks and flashing lights.
 
All economic nonsense aside like :23 an hr min wage.....GOOD LUCK!:lmao:

You don't want to see the economy make an immediate turn around?
Why do you limit it to $23 an hour, why not make it $123 an hour? A cool $255k per person, we'd all be rich. That would be great for the economy, right?
Even very modest wage increases have a Very stimulative effect on the economy. No one is really asking for unreasonable wages, just keeping pace with the cost of living would be an improvement.
 
All economic nonsense aside like :23 an hr min wage.....GOOD LUCK!:lmao:

You don't want to see the economy make an immediate turn around?
Why do you limit it to $23 an hour, why not make it $123 an hour? A cool $255k per person, we'd all be rich. That would be great for the economy, right?
Even very modest wage increases have a Very stimulative effect on the economy. No one is really asking for unreasonable wages, just keeping pace with the cost of living would be an improvement.

Any reasonable living wage proposal would have to be tied to the CoL. And it would probably have to be a local mesurement. As the cost of living in say, Marin County California is significantly higher than say, Branson Missouri.
 
Why do you limit it to $23 an hour, why not make it $123 an hour? A cool $255k per person, we'd all be rich. That would be great for the economy, right?
Even very modest wage increases have a Very stimulative effect on the economy. No one is really asking for unreasonable wages, just keeping pace with the cost of living would be an improvement.
What is modest about moving from $7.25 an hour to $23.00 an hour? That is a 317% increase. I'd hardly call that "modest". If your gas or groceries or insurance or car prices (or other stuff) increased by 317% would you be ok with it?
 
And adjusting the wages artifically no matter where you do it, will have adverse effects. Some will be ok, and not much more, while in other areas the consequences can be detriment long term for a short term gain. If the minimum wage was suppose to be an effective tool to beat inflation, it would have been assigned a calculated increase like inflation.

Rubes. Take some econ courses for the love of us all.
 
Why do you limit it to $23 an hour, why not make it $123 an hour? A cool $255k per person, we'd all be rich. That would be great for the economy, right?

I've already posted the reason.

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.
 
Why do you limit it to $23 an hour, why not make it $123 an hour? A cool $255k per person, we'd all be rich. That would be great for the economy, right?
Even very modest wage increases have a Very stimulative effect on the economy. No one is really asking for unreasonable wages, just keeping pace with the cost of living would be an improvement.
What is modest about moving from $7.25 an hour to $23.00 an hour? That is a 317% increase. I'd hardly call that "modest". If your gas or groceries or insurance or car prices (or other stuff) increased by 317% would you be ok with it?
It already has since America's working class last experienced real wage growth.
 
Why do you limit it to $23 an hour, why not make it $123 an hour? A cool $255k per person, we'd all be rich. That would be great for the economy, right?

I've already posted the reason.

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.
So, you don't want the economy to grow that much.
Teenagers made minimum wage in 1973, not family units.
 
Why do you limit it to $23 an hour, why not make it $123 an hour? A cool $255k per person, we'd all be rich. That would be great for the economy, right?
Even very modest wage increases have a Very stimulative effect on the economy. No one is really asking for unreasonable wages, just keeping pace with the cost of living would be an improvement.
What is modest about moving from $7.25 an hour to $23.00 an hour? That is a 317% increase. I'd hardly call that "modest". If your gas or groceries or insurance or car prices (or other stuff) increased by 317% would you be ok with it?
It already has since America's working class last experienced real wage growth.
Gee, I must be lucky, my wage growth has outpaced the wage growth of teens working at McDonalds.
 
Why do you limit it to $23 an hour, why not make it $123 an hour? A cool $255k per person, we'd all be rich. That would be great for the economy, right?
Even very modest wage increases have a Very stimulative effect on the economy. No one is really asking for unreasonable wages, just keeping pace with the cost of living would be an improvement.
What is modest about moving from $7.25 an hour to $23.00 an hour? That is a 317% increase. I'd hardly call that "modest". If your gas or groceries or insurance or car prices (or other stuff) increased by 317% would you be ok with it?
It already has since America's working class last experienced real wage growth.
Gee, I must be lucky, my wage growth has outpaced the wage growth of teens working at McDonalds.
Non sequitur, a single person's wage growth does not reflect the overall wage growth for all workers in any way. My own profession pays less than it used to, adjusted for inflation, as does practically everyone's. A rising tide, in fact, does not raise all boats.
 
Why do you limit it to $23 an hour, why not make it $123 an hour? A cool $255k per person, we'd all be rich. That would be great for the economy, right?
Even very modest wage increases have a Very stimulative effect on the economy. No one is really asking for unreasonable wages, just keeping pace with the cost of living would be an improvement.
What is modest about moving from $7.25 an hour to $23.00 an hour? That is a 317% increase. I'd hardly call that "modest". If your gas or groceries or insurance or car prices (or other stuff) increased by 317% would you be ok with it?
It already has since America's working class last experienced real wage growth.
Gee, I must be lucky, my wage growth has outpaced the wage growth of teens working at McDonalds.
Non sequitur, a single person's wage growth does not reflect the overall wage growth for all workers in any way. My own profession pays less than it used to, adjusted for inflation, as does practically everyone's. A rising tide, in fact, does not raise all boats.
True. Repubs cling to VooDoo economics even though its been proven to not be in their interest to do so..
 

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