2 hours ago
(3 hours ago)username Wrote: For those that complain about the U.S. economy…this from the Economist 7 days ago:
“How strong is the US economy today compared to other countries?
On a per-person basis, American economic output is now about 40% higher than in western Europe and Canada, and 60% higher than in Japan—roughly twice as large as the gaps between them in 1990. Average wages in America's poorest state, Mississippi, are higher than the averages in Britain, Canada and Germany”.
And Trump’s tariff ideas wouldn’t just raise prices for imported goods (which is like EVERYTHING from China)? :eyeroll:
If you're going to compare wages you have to take into consideration the cost of living in each nation, the employment rate, etc.
As for economic output, the war against Russia has devastated Western Europe's access to energy. The economic sanctions backfired in a very big way.
You also have to take into consideration the amount of debt each nation is carrying, and the fact that gov't reporting is unreliable. How many trillions of dollars has the Pentagon failed to account for? Why isn't the Federal Reserve audited? When a gov't can't be bothered to do proper auditing, nothing it reports should be taken at face value.