What's new
By:

The Biden Administration and All Things Politics

MSN

www.msn.com

The U.S. economy grew at a robust 2.8 percent annualized rate in the second quarter, capping two years of solid expansion.
Gross domestic product for the quarter ending in June was double than the 1.4 percent reading in the previous quarter.
“The economy has been growing gangbusters over the last several years but now it’s settling back into a more normal pattern,” said Ryan Sweet, chief U.S. economist at Oxford Economics. “We are in a period of transition.”

Meanwhile: https://www.msn.com/en-us/money/mar...&cvid=a42b2868ac494101d836ecfd34bb66d8&ei=123

China’s central bank took new steps to shore up the country’s sputtering economy, highlighting officials’ growing anxiety about growth only days after leader Xi Jinping set out his long-term vision to transform China into a technological powerhouse to rival the U.S.

The People’s Bank of China said Thursday that it cut a key interest rate and pumped the equivalent of more than $25 billion into China’s banking system. The move caught investors by surprise, as it occurred outside the usual sequence for policy shifts in the PBOC’s complex collection of interest rates and other tools.

Still, for many economists, while PBOC rate cuts are welcome, they aren’t the right medicine for what ails the economy.

Growth is under pressure from an epic property bust and a collapse in consumer confidence. Foreign investors are fleeing. The government is pumping money into factories to offset weakness elsewhere, fueling a wave of exports and rising tensions over trade. Companies are losing money and prices are flat or falling, raising the specter of a prolonged and damaging bout of deflation.

“Rate cuts help at the margin but they are not sufficient,” said Duncan Wrigley, chief China economist at Pantheon Macroeconomics in London.

The cautious approach by officials may also reflect a desire to keep firepower in reserve in case the U.S. election in November puts Donald Trump back in the White House, risking another escalation in U.S.-China tensions that could harm the economy, said Rory Green, chief China economist at TS Lombard GlobalData, in a research note Thursday.

Summary: US economy doing pretty good. China economy not doing so good.
 
fishonjazz said:

MSN

www.msn.com

The U.S. economy grew at a robust 2.8 percent annualized rate in the second quarter, capping two years of solid expansion.
Gross domestic product for the quarter ending in June was double than the 1.4 percent reading in the previous quarter.
“The economy has been growing gangbusters over the last several years but now it’s settling back into a more normal pattern,” said Ryan Sweet, chief U.S. economist at Oxford Economics. “We are in a period of transition.”

Meanwhile: https://www.msn.com/en-us/money/mar...&cvid=a42b2868ac494101d836ecfd34bb66d8&ei=123

China’s central bank took new steps to shore up the country’s sputtering economy, highlighting officials’ growing anxiety about growth only days after leader Xi Jinping set out his long-term vision to transform China into a technological powerhouse to rival the U.S.

The People’s Bank of China said Thursday that it cut a key interest rate and pumped the equivalent of more than $25 billion into China’s banking system. The move caught investors by surprise, as it occurred outside the usual sequence for policy shifts in the PBOC’s complex collection of interest rates and other tools.

Still, for many economists, while PBOC rate cuts are welcome, they aren’t the right medicine for what ails the economy.

Growth is under pressure from an epic property bust and a collapse in consumer confidence. Foreign investors are fleeing. The government is pumping money into factories to offset weakness elsewhere, fueling a wave of exports and rising tensions over trade. Companies are losing money and prices are flat or falling, raising the specter of a prolonged and damaging bout of deflation.

“Rate cuts help at the margin but they are not sufficient,” said Duncan Wrigley, chief China economist at Pantheon Macroeconomics in London.

The cautious approach by officials may also reflect a desire to keep firepower in reserve in case the U.S. election in November puts Donald Trump back in the White House, risking another escalation in U.S.-China tensions that could harm the economy, said Rory Green, chief China economist at TS Lombard GlobalData, in a research note Thursday.

Summary: US economy doing pretty good. China economy not doing so good.
Click to expand...

Our Mainstream Media, in general, has been aggressively predicting Chinese economic doom for like two decades, probably more. Does anybody remember those reports on those giant ghost cities?

Our measures of economic health, which are largely oriented towards the health of shareholders on a macro level, are inadequate. I don't think the CCP and therefore, the Chinese economy, values what economists in the US value. They're always "surprised" and "concerned". It's like, guys I don't think it's gonna happen.

You can **** on CCP authoritarianism and lack of free speech protections all day. But, they have a thriving, THRIVING, middle-class, high-speed rail to everywhere, universal healthcare and ample housing. Their economic priorities are elsewhere, and as long as we refuse, on purpose, to acknowledge that, western economists will continue to get it wrong.
 
Safetydan said:
Our Mainstream Media, in general, has been aggressively predicting Chinese economic doom for like two decades, probably more. Does anybody remember those reports on those giant ghost cities?

Our measures of economic health, which are largely oriented towards the health of shareholders on a macro level, are inadequate. I don't think the CCP and therefore, the Chinese economy, values what economists in the US value. They're always "surprised" and "concerned". It's like, guys I don't think it's gonna happen.

You can **** on CCP authoritarianism and lack of free speech protections all day. But, they have a thriving, THRIVING, middle-class, high-speed rail to everywhere, universal healthcare and ample housing. Their economic priorities are elsewhere, and as long as we refuse, on purpose, to acknowledge that, western economists will continue to get it wrong.
Click to expand...
The Americans I know who live in or have lived in China really like(d) it fwiw. Some aspects they prefer America, but it's definitely not what some make it out to be.
 
LogGrad98 said:

View: https://youtu.be/CFDDf48nj9g?si=0WRccroI2FE-o00b
Click to expand...

This was really interesting. Thank you for posting. Going in, I was ready to rip it apart but instead it demonstrated why the American system is so superior to what they had in Europe in the 1900's.

For those who won't listen to it, Germany had no functional government in the 1930's because they couldn't form a government. The US doesn't work that way. Our government doesn't get formed after each election. Our legislative branch always has a majority one way or another due to the VP breaking ties. To all you weenies demanding we drop the two party system: This is why we don't drop the two party system.

Next he goes in to how their courts became a rubber stamp for policies having the approval of the monarch. From our founding, the monarch of the United States is a document instead of a person. Here in 2024, only the true wackadoos are calling for the overthrow of the US Constitution.

The podcaster goes on several times about the overturning of Roe v Wade was subverting democracy, when in reality it was the opposite. Overturning that case returned the issue to democracy. Consequently, some people moved the line this way and some people moved the line the other way, but that is democracy where before was edict. If you don't support where the line in your district is currently then get out and advocate for change because it is still subject to democracy.

Lastly, the podcaster emphatically states the voters in the United States are nowhere near as despondent as the people in Weimar, but he saves that for the end because crisis gets more clicks.

In short: Calm down Chicken Littles. We're fine. Our fire-tested system is far more robust than you are giving it credit for.
 
Safetydan said:
Our Mainstream Media, in general, has been aggressively predicting Chinese economic doom for like two decades, probably more. Does anybody remember those reports on those giant ghost cities?

Our measures of economic health, which are largely oriented towards the health of shareholders on a macro level, are inadequate. I don't think the CCP and therefore, the Chinese economy, values what economists in the US value. They're always "surprised" and "concerned". It's like, guys I don't think it's gonna happen.

You can **** on CCP authoritarianism and lack of free speech protections all day. But, they have a thriving, THRIVING, middle-class, high-speed rail to everywhere, universal healthcare and ample housing. Their economic priorities are elsewhere, and as long as we refuse, on purpose, to acknowledge that, western economists will continue to get it wrong.
Click to expand...

Saint Cy of JFC said:
The Americans I know who live in or have lived in China really like(d) it fwiw. Some aspects they prefer America, but it's definitely not what some make it out to be.
Click to expand...
We need @Ron Mexico to chime in here.
 
fishonjazz said:

MSN

www.msn.com

The U.S. economy grew at a robust 2.8 percent annualized rate in the second quarter, capping two years of solid expansion.
Gross domestic product for the quarter ending in June was double than the 1.4 percent reading in the previous quarter.
“The economy has been growing gangbusters over the last several years but now it’s settling back into a more normal pattern,” said Ryan Sweet, chief U.S. economist at Oxford Economics. “We are in a period of transition.”

Meanwhile: https://www.msn.com/en-us/money/mar...&cvid=a42b2868ac494101d836ecfd34bb66d8&ei=123

China’s central bank took new steps to shore up the country’s sputtering economy, highlighting officials’ growing anxiety about growth only days after leader Xi Jinping set out his long-term vision to transform China into a technological powerhouse to rival the U.S.

The People’s Bank of China said Thursday that it cut a key interest rate and pumped the equivalent of more than $25 billion into China’s banking system. The move caught investors by surprise, as it occurred outside the usual sequence for policy shifts in the PBOC’s complex collection of interest rates and other tools.

Still, for many economists, while PBOC rate cuts are welcome, they aren’t the right medicine for what ails the economy.

Growth is under pressure from an epic property bust and a collapse in consumer confidence. Foreign investors are fleeing. The government is pumping money into factories to offset weakness elsewhere, fueling a wave of exports and rising tensions over trade. Companies are losing money and prices are flat or falling, raising the specter of a prolonged and damaging bout of deflation.

“Rate cuts help at the margin but they are not sufficient,” said Duncan Wrigley, chief China economist at Pantheon Macroeconomics in London.

The cautious approach by officials may also reflect a desire to keep firepower in reserve in case the U.S. election in November puts Donald Trump back in the White House, risking another escalation in U.S.-China tensions that could harm the economy, said Rory Green, chief China economist at TS Lombard GlobalData, in a research note Thursday.

Summary: US economy doing pretty good. China economy not doing so good.
Click to expand...

Also summary: The Rapist risks another escalation in US-China tensions.
 
Al-O-Meter said:
This was really interesting. Thank you for posting. Going in, I was ready to rip it apart but instead it demonstrated why the American system is so superior to what they had in Europe in the 1900's.

For those who won't listen to it, Germany had no functional government in the 1930's because they couldn't form a government. The US doesn't work that way. Our government doesn't get formed after each election. Our legislative branch always has a majority one way or another due to the VP breaking ties. To all you weenies demanding we drop the two party system: This is why we don't drop the two party system.

Next he goes in to how their courts became a rubber stamp for policies having the approval of the monarch. From our founding, the monarch of the United States is a document instead of a person. Here in 2024, only the true wackadoos are calling for the overthrow of the US Constitution.

The podcaster goes on several times about the overturning of Roe v Wade was subverting democracy, when in reality it was the opposite. Overturning that case returned the issue to democracy. Consequently, some people moved the line this way and some people moved the line the other way, but that is democracy where before was edict. If you don't support where the line in your district is currently then get out and advocate for change because it is still subject to democracy.

Lastly, the podcaster emphatically states the voters in the United States are nowhere near as despondent as the people in Weimar, but he saves that for the end because crisis gets more clicks.

In short: Calm down Chicken Littles. We're fine. Our fire-tested system is far more robust than you are giving it credit for.
Click to expand...

Three Arrows is great. I recommend the rest of his library to you.
 
Bucknutz said:
The older I get, the more I just want to live on a large piece of land, far away from despicable people; that includes an online presence as well. Have a few animals and just take care of land and my wife and kids. Just a very simple life.
Click to expand...
Not me. I could do that tomorrow if I wanted. My wife's family has a 125 acre hilly ranch with a stream, some wooded areas, and some meadows. We will inherit it and it is expected that we maintain it as it has the family cemetery on the property. The land is beautiful, but the alcoholism, the drugs, and the lack of opportunity in the area is not a thing I have any interest in exposing my kid to. Also, the local rural hospital is terrible compared to the medical facilities around where I live in San Diego.
 
You must log in or register to reply here.

Share this page
Back
Top