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The Incredible Shrinking World (Relative To China)
In the midst of a debacle such as the the one under way in Washington currently and the finger-wagging from various foreign entities (that Jack Lew himself warned Congress would be more than happy to replace the USD as world reserve currency), we thought the following simple chart useful for some context as to the rest of the world's "growth."
Via Goldman Sachs
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Right, so I should just accept China's GDP figures then?
is this like oil reserve numbers?
now who lies the most?
i need a drink
Expand the data set a bit ..
http://www.youtube.com/watch?v=jbkSRLYSojo
Forgot about that video, very good!
The yuan is now the world's eighth most-traded currency
http://www.reuters.com/article/2013/10/10/us-ecb-china-swap-idUSBRE9990A...
So why can't I buy some?
http://finance.yahoo.com/news/china-wonders-why-own-much-171915388.html
"No need worry, Mr Li, we not pay back. Rotsa Ruck!"
So, is China growing relative to the rest of the world, or did the rest of the world shrink?
China surpassed the U.S. GDP years ago. In every measure of economic power they outrank us. Industrial production is now about 5x that of the U.S. Real estate development 10x. Middle class 5x. It is the U.S. that has the colossal fictitious GDP. Check the CIA World Factbook pages: https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html.
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Zhende shi zhade!
I don't know why you can't buy some, I bought 2,800 yuan in Marks & Spencers last week - they had it in the safe, didn't need to order it.
Last time I tried to get some at a bank they said "huh"? It's been a little while, though.
Maybe assume all lie equally (or soon will within the next decade)
Have ANY of the Governments EVER told the truth, even once?
Only when it has suited their narrative.
Textbook example of blobbing up, a well known facet of the eternal nature of Chinese citizenism.
But hey, classical by now...
Re: told the truth
Truth (no lieing) is what you tell the children to do.
Adults "lie", it's called duplicity. You can separate the adults (who run everything) from the children (and the semi-austistics) by how well they comprehend duplicity.
Duplicity, ask for it by name!
The US went from being Johnny Holmes to being John Bobbitt. Ouch!
That's John Wayne Bobbit to you ... and he claims having his tallywhacker cut off did wonders for his love life; not sure what to make of that vis a vis the state of the nation.
Therefore, I can't compare one lie to another's lie. There are at least many indicators in the US about some sort of "activity" regardless of what the government says. China not so much.
I think China has Out "USed" the US. Bigger credit beyond belief. But in their case it looks like they're snatching up real assets in many cases... so the joke certainly isn't on them.
Real assets which they don't physically control...
What is that phrase Laws of Physics keeps repeating over and over and over?
As much as you'd accept US GDP figures.
While I don't support the gerry ringing, and out right lying of the US GDP figures, at least we know what they're using to come up with their numbers. China not so much.
I explained to my wife the other night about hedonic adjustments and the total bullshit of them. She asked me if 27 inch monitors have finally come down in price (from the one i bought 4 years ago). We go to NewEgg and they're still the same price. Why? Because they came out with "new ones" to replace the old ones (that could be sold cheaper). The US government calls that a GDP boost. Bullshit.
But don't worry, the US will get theirs with these new GDP figures that include "stated promises to put money in pension funds". Thats the biggest knee slapper of all time.
Or the USA's for that matter.
30 years of understating the deflator ,compounded.
Prolly closer to $8T US GDP in reality.
GDP is a crappy way to evaluate economic growth, because "good" GDP (like building a new factory to meet a demand) counts the same as "bad" GDP (building a Chinese "ghost" city). And, government borrowing counts as GDP no matter how that money is spent.
Whoah! Shrinkage!
I knew it was my pants getting smaller, not me getting fatter.
Last time I checked, US GDP was a fair bit more than double what China's is (assuming official government-published number are all true). Does our dot look twice as big as China's to you? Maybe it's one of those optical illusion things.
US GDP WITH DEBT OBLIGATIONS -----------> .
Asians....known for their lack of intelligence...are also buying Gold like it is going out of style.
What a bunch of retards. sarc.
Bill Clinton must be a Chinese Hero for his actions post-Tienanmen. The way he gave the US domestic market to China must have made those Bilderbergers on Wall Street ecstatic
it looks less like the "world" and more like a solar system.
who is uranus?
This can only mean 1 thing.. Gold to $2,000/oz!
WRONG! $3500 at the least. 12K to $15K is required to back debts but they'll find a way to spin a lower number.
OT - has anyone checked in on Charles Biderman, from Sausalito California? I'd suggest looking around the Golden Gate Bridge.
depressing for those who felt the world was theirs. How do we go from king of the world to prime fiat junkie in 20 years?
Last time it happened it was in 1796 to 1815 in a country called France and that country went from " we are kings of the world" to "can you spare me a dime" pronto fast.
Soviet Russia was never king of the world but Putin has made it now oligarchy Gazprom land; thanks to globalism in NWO hubris, king of commodities. What a turn around where two junkies rule the planet like in 1988...Tovarich Camarade!
Re: How do we go from king of the world to prime fiat junkie in 20 years?
Sure would have been nice if - over the last 60+ years - we actually had a tax and spend party instead of two borrow and spends Teams.
Oh well, everybody loves the crony-socialist scam their buddies were getting rich off of. Too bad the citizens didn't demand tax increases to pay for that spending they were getting (I jest, I jest).
Git yer socialist hands off my Medicare, I'm ENTITLED to 4 hip replacement surgeries!!
China owes WalMart bigtime!
China also owe to our stupid minimum wage that prohibits us from competing with them, even though we have labor willing to work for under minimum wage. (if you think there is nobody willing to work for less than minimum wage then why have the law?)
Given China's huge head start as a civilization, they probably should have taken over the world by now if that is in fact within the bounds of their capabilities, ambition or destiny.
i don't agree with the logic...
given native Indian's (or Mayan's) huge headstart as a civilization, either of these should have taken over the world by now...
capabilities, yes; ambition, not so much; destiny, ah...
You're proving my point - they never really leveraged their headstart or ever developed beyond a certain point.
I'm not so sure the Mayan's were ever that much more advanced than the classical/pre-classical Mediterranean civilizations anyway - at least not for very long. And the N. American natives/Indians never made it out of the stone age.
Fucking Nixon!!!
That chart is one of the most confusing graphic representations I have ever seen.
what do you expect from Goldman Sucks?
Look at bricks in 95, they had a large portion of gdp without china, now they have less than china itself. The rest of the graph uses the same logic, US gdp is almost the same as china today when it was twice the size in 95.
bricks?
This explains the global game of Risk that the GS squid is playing. GS is HEDGING their allegiance:
Some allegiance to the US, some to China. Make money off both, and screw the poor, working trolls.
Allow the US politicians to keep spending (on behalf of their constituency) to get re-elected, keep funding the MISC (Military-Industrial-Surveillance Complex), keep up the MV (Money Supply x Velocity of Money) to maintain the fiat-Dollar's Reserve status, money printing and wealth transfer.
Hammer any threats to the Dollar, including Gold. Allow the Chinese to buy bullion on the cheap, thus ingratiating oneself with them and getting the Insider track with the GS center in Shanghai. This center will profit from China's continued growth. China is hedging its bets by holding both US Debt (USTs and FRNs on FX), as well as gold (to back own currency). This way, they can't lose, no matter what happens.
Like any good parasite, GS is all too happy to infest and feast on any juicy host. Especially those who are US and Chinese size.
GS is without nationality or loyalty.
They worship mammon, nothing else.
Bankers without borders.
Mammon? Perhaps, but I thought they primarily worshiped Moloch and the many-horned Chirun.
What else did you think those alters were for if not to sacrifice Palestinian children upon?
And inflation and unaccounted debt accounts for how much of that?
Black holes spring to mind.................
They probably aren't holding the bag containing $700,000,000,000,000 (seven hundred trillion) in derivatives, or at least not a ridiculous portion of it.
Why in the world would any sane person give a shit about China's GDP?!
Why are we so concerned about being "EXCEPTIONAL"?!
What we need to do is:
1. Stop spending more than we produce.
2. Get the hell out of the Middle East. If they don't want to sell us their oil then they can stuff it up their asses and starve.
3. If China doesn't want to sell us all the shit they produce, fine then we'll make it ourselves.
4. Cut the Federal Government's budget by 90%
Don't worry about China, once their downturn starts they will start chewing on each other trying to get the last yuan.