Galt's Gulch

Diagram Will Change The Way You See The USA's Economy

Posted by $ AJAshinoff 5 years, 1 month ago to Economics
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The chart itself is very revealing as it highlights the true potential of an environment which fosters Producers compared to moochers.
SOURCE URL: https://thefederalistpapers.org/opinion/diagram-change-way-see-usas-economy?fbclid=IwAR2VPdStUjbGMJ6kAAtCoCmou6aEpF0ZikDxtkWkwMrOywhNA09JqOTVddw

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  • Posted by $ blarman 5 years, 1 month ago
    Thanks for posting. Was eye-opening to be sure. If the UN actually apportioned voting power according to this, we might see some reality in that institution. Instead, they give inordinate power to non-players such as most African nations, etc.
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    • Posted by $ allosaur 5 years, 1 month ago
      "Eye-opening" is a first rate description.
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      • Posted by $ AJAshinoff 5 years, 1 month ago
        Understanding the desparity between US and them, all of them, helps to understand the leverage Trump is employing and it also enhances comprehension of why he's and his advisors are so confident and sure about what he'd doing. I'm not keen on taxes and don't seek to pay more for things if I don't have to, but his tartiffs are more understandable when you visually see the massive trade gap between 1 & 2. I think we just need to give it time and trade issues will sort themselves out. The US is dealing from a position of authority and there are now those in government who not only recognize that position but also how to use it to our advantage.
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  • Posted by $ gharkness 5 years, 1 month ago
    Very interesting. I'd have thought China would be bigger (don't laugh at me (or do, I guess) - I avoid as much MSM news as possible....I was just going on the fact of their huge population).
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  • Posted by Owlsrayne 5 years, 1 month ago
    The Chinese will have to still have to save face, which is part of their cultural heritage. So, whatever the US negotiates with the Chinese there will have to be some kind of compromise so the Chinese delegation can show that there is some gain for them.
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  • Posted by mshupe 5 years, 1 month ago
    The article complains that services are an inordinately large portion of the US economy, but I'm not convinced that its a problem. First, according to what measurement? GDP is a flawed measure, Gross Output puts consumer spending at about 30%, which is different, but more useful than GDP. Also, its a good thing that America is wealthy enough to spend more on services, but we live in a society that is generally ignorant of our relative prosperity and the reasons for it.
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    • Posted by mccannon01 5 years, 1 month ago
      IMHO, it depends on the service. Trucking and transportation as well as clean tap water and trash removal are all great services. However, what about the nearly trillion dollars spent annually by individuals and businesses just on tax compliance? All that money trades hands and effort expended but virtually nothing is produced. I'm sure the revenues of H&R Block and other tax services are included in the nations "prosperity", but its all vaporware.

      "...but we live in a society that is generally ignorant of our relative prosperity and the reasons for it." Agreed here and that ignorance is going to have an enormous cost in the future.
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