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Comments on: The US economy is still very mighty http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/ The Visible Hand in Economics Tue, 07 Apr 2009 11:24:12 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: cheapcarsauctions http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/#comment-18838 Tue, 07 Apr 2009 11:24:12 +0000 http://www.tvhe.co.nz/?p=3297#comment-18838 Hello to all ! Great site. I am new here greetings to all from Poland.

]]> By: Matt Nolan http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/#comment-18315 Mon, 23 Mar 2009 21:01:04 +0000 http://www.tvhe.co.nz/?p=3297#comment-18315 @Freddy

Hi Freddy,

US GDP measures exactly what it is supposed to – the volume of production. However, the prices used to denote this production may not hold anymore – because relative prices do change over time. As a result, if the US terms of trade has fallen (has it?) or if relative prices on non-tradable goods have changed (have they?) then it is possible GDP may be a bit funny.

However, if this is the case there are other indicators of the US economy we can look at. The fact is the US economy is SUBSTANTIALLY stronger than other economies around the world – wages are much higher, productivity is much higher. It might not last forever – but the US economy is still incredibly strong, the claims out there that it relies solely on debt are exaggerations.

]]> By: Topics about Economy » Archive » The US economy is still very mighty | TVHE http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/#comment-18307 Mon, 23 Mar 2009 15:35:38 +0000 http://www.tvhe.co.nz/?p=3297#comment-18307 […] Matt Nolan placed an interesting blog post on The US economy is still very mighty | TVHEHere’s a brief overviewSure the US has borrowed a lot, and sure the US economy is in big big trouble at the moment, but lets keep some perspective here – the ability for the US to produce is far beyond anything that any of the rest of the world has. … […]

]]> By: Freddy http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/#comment-18304 Mon, 23 Mar 2009 04:36:56 +0000 http://www.tvhe.co.nz/?p=3297#comment-18304 A big problem with the American GDP figures is the creative way in which it is calculated. Check out Peter Schiff’s book “Crash Proof: How to Profit from the Coming Economic Collapse”. He says the following and goes on to explain: “The GDP is too full of fluff to be an accurate measure of economic health and growth”.

Also, the American government with the help of the Federal Reserve is seriously devaluing the dollar by accelerating the money printing presses. The dollar’s going to crash, and the US economy will suffer big time because of it. Of course, repaying US dollar debt will be much cheaper then, but the lenders won’t be happy…

]]> By: Network Marketing - Discover Why Spillovers Can Lead to a Crippled Network Marketing Business | Poker Deposit Bonus http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/#comment-18236 Fri, 20 Mar 2009 13:06:56 +0000 http://www.tvhe.co.nz/?p=3297#comment-18236 […] The US economy is still very mighty | TVHE […]

]]> By: Matt Nolan http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/#comment-18221 Thu, 19 Mar 2009 23:12:21 +0000 http://www.tvhe.co.nz/?p=3297#comment-18221 @agnitio

Longer to read books 😀

]]> By: agnitio http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/#comment-18220 Thu, 19 Mar 2009 23:11:24 +0000 http://www.tvhe.co.nz/?p=3297#comment-18220 Given I live less than a 10 minute walk from work, and given traffic in Auckland, it would actually take me longer to get to work if I caught the bus:)

]]> By: Matt Nolan http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/#comment-18217 Thu, 19 Mar 2009 22:28:00 +0000 http://www.tvhe.co.nz/?p=3297#comment-18217 @agnitio

You need to catch a bus to work man – that is where I find the time to read things. Did enjoy that book though – I’m sure there are pdf’s of some of the chapters online I could just email you the odd one I found good.

The only problem is then you will realise how bad my arguments are 😛 Sometimes information asymmetries work in my favour 🙂

]]> By: agnitio http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/#comment-18216 Thu, 19 Mar 2009 22:25:18 +0000 http://www.tvhe.co.nz/?p=3297#comment-18216 I still need to borrow that methodology book from you, then I can try and make intelligent sounding comments about value judgements like you do all the time:D

Not that I’ll ever find time to read it 🙁

]]> By: Matt Nolan http://www.tvhe.co.nz/2009/03/20/the-us-economy-is-still-very-mighty/#comment-18214 Thu, 19 Mar 2009 21:53:59 +0000 http://www.tvhe.co.nz/?p=3297#comment-18214 @goonix

Definitely, definitely.

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