Follow us on...
Follow us on Twitter Follow us on Facebook Watch us on YouTube
Register
Page 1 of 7 1234 ... LastLast
Results 1 to 15 of 96
  1. #1
    Banned!
    Join Date
    10.05.14
    Posts
    1,084
    Last Online

    02.15.15 @ 06:38 PM
    Likes
    0
    Liked 73 Times in 64 Posts

    Default It's Official - America Is Now #2



    Hang on to your hats, America.

    And throw away that big, fat styrofoam finger while you’re about it.

    There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.

    It just happened — and almost nobody noticed.

    The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year produce $17.6 trillion — compared with $17.4 trillion for the U.S.A.

    As recently as 2000, we produced nearly three times as much as the Chinese.

    To put the numbers slightly differently, China now accounts for 16.5% of the global economy when measured in real purchasing-power terms, compared with 16.3% for the U.S.

    This latest economic earthquake follows the development last year when China surpassed the U.S. for the first time in terms of global trade.

    I reported on this looming development over two years ago, but the moment came sooner than I or anyone else had predicted. China’s recent decision to bring gross domestic product calculations in line with international standards has revealed activity that had previously gone uncounted.

    These calculations are based on a well-established and widely used economic measure known as purchasing-power parity (or PPP), which measures the actual output as opposed to fluctuations in exchange rates. So a Starbucks venti Frappucino served in Beijing counts the same as a venti Frappucino served in Minneapolis, regardless of what happens to be going on among foreign-exchange traders.

    PPP is the real way of comparing economies. It is one reported by the IMF and was, for example, the one used by McKinsey & Co. consultants back in the 1990s when they undertook a study of economic productivity on behalf of the British government.

    Yes, when you look at mere international exchange rates, the U.S. economy remains bigger than that of China, allegedly by almost 70%. But such measures, although they are widely followed, are largely meaningless. Does the U.S. economy really shrink if the dollar falls 10% on international currency markets? Does the recent plunge in the yen mean the Japanese economy is vanishing before our eyes?

    Back in 2012, when I first reported on these figures, the IMF tried to challenge the importance of PPP. I was not surprised. It is not in anyone’s interest at the IMF that people in the Western world start focusing too much on the sheer extent of China’s power. But the PPP data come from the IMF, not from me. And it is noteworthy that when the IMF’s official World Economic Outlook compares countries by their share of world output, it does so using PPP.

    Yes, all statistics are open to various quibbles. It is perfectly possible China’s latest numbers overstate output — or understate them. That may also be true of U.S. GDP figures. But the IMF data are the best we have.

    Make no mistake: This is a geopolitical earthquake with a high reading on the Richter scale. Throughout history, political and military power have always depended on economic power. Britain was the workshop of the world before she ruled the waves. And it was Britain’s relative economic decline that preceded the collapse of her power. And it was a similar story with previous hegemonic powers such as France and Spain.

    This will not change anything tomorrow or next week, but it will change almost everything in the longer term. We have lived in a world dominated by the U.S. since at least 1945 and, in many ways, since the late 19th century. And we have lived for 200 years — since the Battle of Waterloo in 1815 — in a world dominated by two reasonably democratic, constitutional countries in Great Britain and the U.S.A. For all their flaws, the two countries have been in the vanguard worldwide in terms of civil liberties, democratic processes and constitutional rights.

  2. #2
    ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ Number 47's Avatar
    Join Date
    10.08.06
    Posts
    29,798
    Last Online

    12.12.17 @ 05:02 AM
    Likes
    1,873
    Liked 6,819 Times in 3,566 Posts


    Premium Member

  3. #3
    Gird your loins Daisy Hill's Avatar
    Join Date
    04.17.08
    Age
    57
    Location
    Goose Poop, Ohio
    Posts
    13,016
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Panama
    Last Online

    12.11.17 @ 07:55 PM
    Likes
    1,791
    Liked 2,231 Times in 1,349 Posts

    Default

    thanks for the attribution 47...it's important to site sources

  4. #4
    Master Bluesman Elwood P.'s Avatar
    Join Date
    01.11.02
    Location
    1060 W. Addison, Chicago
    Posts
    6,040
    Favorite VH Album

    ADKOT
    Favorite VH Song

    Soul Kitchen
    Last Online

    12.12.17 @ 07:42 AM
    Likes
    1,757
    Liked 1,083 Times in 725 Posts


    Premium Member

    Default

    There's like 80 billion Chinese. It was bound to happen sooner or later. Maybe it'll speed up the next VH album.
    "I'm the opposite of Bill Cosby. Diamond Dave always gets your approval." (DLR)

    "Kids, just say NO to marriage". (Al Bundy)

    Rawhide in "A"

    OAA

  5. #5
    Banned!
    Join Date
    10.05.14
    Posts
    1,084
    Last Online

    02.15.15 @ 06:38 PM
    Likes
    0
    Liked 73 Times in 64 Posts

    Default

    Quote Originally Posted by Daisy Hill View Post
    thanks for the attribution 47...it's important to site sources
    Force of habit with my forum - we never site sources. It's just faster when we are posting numerous articles at once to just post the article. If someone really requires the source, which doesn't happen often - they can google the article.

  6. #6
    Atomic Punk bsbll4's Avatar
    Join Date
    02.18.03
    Age
    34
    Location
    St. Louis, MO
    Posts
    8,627
    Favorite VH Album

    Van Halen/ADKOT
    Favorite VH Song

    Hot For Teacher
    Last Online

    12.12.17 @ 08:02 AM
    Likes
    566
    Liked 2,211 Times in 1,115 Posts


    Premium Member

    Default

    That giant foam finger was made in China anyway. Let's throw it away and then ship it overseas to pollute their country like we do our electronics.
    CNN may think my opinion matters, but you shouldn't.

  7. #7
    Good Enough
    Join Date
    02.23.07
    Posts
    2,352
    Last Online

    11.14.17 @ 06:38 PM
    Likes
    4,723
    Liked 753 Times in 498 Posts

    Default

    For the record, you cite sources on this site.

  8. The Following 3 Members Like This Post:


  9. #8
    Gird your loins Daisy Hill's Avatar
    Join Date
    04.17.08
    Age
    57
    Location
    Goose Poop, Ohio
    Posts
    13,016
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Panama
    Last Online

    12.11.17 @ 07:55 PM
    Likes
    1,791
    Liked 2,231 Times in 1,349 Posts

    Default

    Quote Originally Posted by Hot Sauce View Post
    Force of habit with my forum - we never site sources. It's just faster when we are posting numerous articles at once to just post the article. If someone really requires the source, which doesn't happen often - they can google the article.
    an extra 10 seconds and we know if you source is the Washington Post or the Onion

    site your sources

  10. #9
    Good Enough
    Join Date
    02.23.07
    Posts
    2,352
    Last Online

    11.14.17 @ 06:38 PM
    Likes
    4,723
    Liked 753 Times in 498 Posts

    Default

    *cite. Sorry for being spelling "police"...

  11. The Following 2 Members Like This Post:


  12. #10
    ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ Number 47's Avatar
    Join Date
    10.08.06
    Posts
    29,798
    Last Online

    12.12.17 @ 05:02 AM
    Likes
    1,873
    Liked 6,819 Times in 3,566 Posts


    Premium Member

    Default

    + I always feel it's just good form when copying full text, to include the link in case of copywrited kinda stuff. That's just me though.

  13. The Following Member Likes This Post:


  14. #11
    Banned!
    Join Date
    10.05.14
    Posts
    1,084
    Last Online

    02.15.15 @ 06:38 PM
    Likes
    0
    Liked 73 Times in 64 Posts

    Default

    Quote Originally Posted by Number 47 View Post
    + I always feel it's just good form when copying full text, to include the link in case of copywrited kinda stuff. That's just me though.
    We just have a different culture on my forum. It's not about not wanting to give credit - it's mostly just laziness and convenience. Again, if someone is really dying to know the source, Google is your friend.

  15. #12
    Forum Frontman It's Mike's Avatar
    Join Date
    03.26.06
    Age
    43
    Location
    Vaughan, Ontario, Canada
    Posts
    34,080
    Favorite VH Album

    like them all, no favourite
    Last Online

    12.12.17 @ 07:52 AM
    Likes
    1,314
    Liked 6,670 Times in 3,696 Posts

    Default

    Quote Originally Posted by Hot Sauce View Post
    We just have a different culture on my forum. It's not about not wanting to give credit - it's mostly just laziness and convenience. Again, if someone is really dying to know the source, Google is your friend.
    what's your forum? I'd love to see it.

  16. The Following 5 Members Like This Post:


  17. #13
    Good Enough
    Join Date
    10.12.09
    Posts
    1,872
    Last Online

    05.15.16 @ 10:48 PM
    Likes
    5
    Liked 164 Times in 76 Posts

    Default

    Quote Originally Posted by Hot Sauce View Post
    We just have a different culture on my forum. It's not about not wanting to give credit - it's mostly just laziness and convenience. Again, if someone is really dying to know the source, Google is your friend.
    As someone who makes his living writing, I have to say your nonchalant attitude about presenting other people's work as your own is maddening to me. It literally would take 10 seconds to correctly cite your source, which changes your post from "this is mine" to "I agree with this."

  18. The Following 2 Members Like This Post:


  19. #14
    Banned!
    Join Date
    10.05.14
    Posts
    1,084
    Last Online

    02.15.15 @ 06:38 PM
    Likes
    0
    Liked 73 Times in 64 Posts

    Default

    Quote Originally Posted by ToddE View Post
    As someone who makes his living writing, I have to say your nonchalant attitude about presenting other people's work as your own is maddening to me. It literally would take 10 seconds to correctly cite your source, which changes your post from "this is mine" to "I agree with this."
    We are not presenting other people's work as our own - we all understand that this is the format of the forum and people know that these are articles from the media, blogs, etc. These are also posted in news sections. No one is passing anything off as their work. It works best for our forum. There are too many posts a day to add the source as well. It's easier for people to just copy and paste the artcle - boom, done and move on to the next one.

  20. #15
    Good Enough
    Join Date
    10.12.09
    Posts
    1,872
    Last Online

    05.15.16 @ 10:48 PM
    Likes
    5
    Liked 164 Times in 76 Posts

    Default

    Quote Originally Posted by Hot Sauce View Post
    We are not presenting other people's work as our own - we all understand that this is the format of the forum and people know that these are articles from the media, blogs, etc. These are also posted in news sections. No one is passing anything off as their work. It works best for our forum. There are too many posts a day to add the source as well. It's easier for people to just copy and paste the artcle - boom, done and move on to the next one.
    Ah, the "if we all steal, no one is guilty" defense. Good for you.

    You started a thread, posted a story and did not attribute the work. How do we know which posts are your voice, and which posts are words you've taken from someone else?

 

 

Similar Threads

  1. The new America?
    By bklynboy68 in forum VH Fans Meeting Place (Non-Music)
    Replies: 10
    Last Post: 11.15.12, 06:01 AM
  2. Replies: 3
    Last Post: 12.30.09, 04:41 AM
  3. Only in America
    By ZeoBandit in forum VH Fans Meeting Place (Non-Music)
    Replies: 4
    Last Post: 05.15.07, 06:30 PM
  4. "Corporate America" Official Release Date
    By Ted Williams in forum VH Fans Meeting Place (Music Only)
    Replies: 5
    Last Post: 09.25.02, 10:50 AM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •