Topic: USA is now number 2 - page 5. (Read 11671 times)

No, this is very much correct. If you have two countries with the same amount of economic output, when you measure each country's economy based on PPP the country with the lower standard of living is going to appear larger.

This is obviously not an accurate way to measure the size on an economy. GDP is much more accurate and respectable economists will use GPD over PPP

True, but this does not matter. The world economy is no longer as dependent on industrials anymore, with the exception of rebuilding from wars, however US industrial companies are able to handle this volume of work

The inequality is growing in the USA as the Government is growing bigger

USA is number 2, but the difference between the poor and the rich is much bigger in china.

The USA use to be an industrial nation, they are still very good in a lot of sectors but nowhere near the best in industrial production.

The US is primarily a service based economy so most of what it produces is services for others to consume. This does include the development of technology and things like IP which can easily be exported to other countries when appropriate. It has been a long time since the US has produced a large amount of goods (like the kinds of things that China tends to produce)

USA is #1 for its army and currency.


Russia and Gold are the ones adding the more Gold to their reserves

By production USA is not even number two, its really subject to upset if it was not able to import as now.  USA is #1 in food production potential ?  factors like that make me think we dont see a total melt down whatever does happen
   Russia has problems with declining population, its not especially productive even in oil and gas it lacks innovation that USA could boast of.  Yes by pure numbers Russia has alot but so does Canada, it doesnt equate to productive capacity if the cost becomes too high and for oil exploration and extraction they use foreign workers and technology to make best use.  They are exporters of the raw product but as we see now that can be a weakness because its the middle east who have the very easiest lowest costs.   Russia needs the world, I dont think they are near to number two and by people its not the force it once was.

China has people but also in decline, again I think they do need world trade to make the best.  In gold they are top in production but sorely lacking in actual reserves still, they refuse to disclose an accurate measure.  Mostly I think this allows them to buy at a lower price, generally China is interested in acquiring not just the product but various commidity resources across the globe.   One I used to own, produces at cost 1600 an ounce but thats still cheap enough for them to buy apparently; of course at a distressed price and they can idle till true demand is shown is my guess

Ironically USA has growing population and various positives.  It also has the highest gold reserves and some production but its debt is so overwhelming (and ongoing tax burden, deficit, red tape, etc) all the positives are overshadowed till its dealt with.  

i think usa is till number1

Russia-China-USA are 80% of the planet

I am pretty sure that both Russia and China are not the number one holder of Gold in the world.

Not only that but the value of an economy is based on the goods and services that a country can produce, not how much it has in assets

Have you been following what's going on in Russia? I don't think that's accurate. It's not as if gold is the only thing of value on earth...

Actually, I'm fairly certain that living standards are lower even based on PPP adjustments, but I could be wrong on that one. I don't think if you look at how the average Chinese person lives it will compare to how the average American lives. That can and should change over time if China relaxes economic and social controls in favor of personal and economic freedom.

USA is number 2 since 3-4 years because the two new superpower actually are Russia and China. Russia is the number 1 owner of GOLD in our planet, and same thing for China.

This one comment was worth the time reading this thread lol

well put!

US?  China?  Puh!
GLORIOUS NORTH KOREA, bro.  That's where the future is!

China is strong and getting stronger, they are betting on long term when the EU and the USA are getting weaker, more in debt and mostly only thinking short term. It is easy to see who will win if you go past the propaganda.

now many investors are going to invest in America, you see the dollar price rises.

While the USA and EU have been in economic crisis, China's has been lending their money, to the USA and EU, they got into African regions with technology and investments. The list is longer. It does not surprise me, talking about "the long game", they're playing it very well, I wonder what happens when they ask the US, "Can we get our money back".

By GDP and GDP per inhabitant the US is still bigger than China but they are producing less industrial goods and the US economy is sadly based on debt. If you go in debt of 2Billions to produce one more Billion you are not going in the correct direction and your collapse is near.