Thread: The strongest economy in the world

Originally Posted by OhOh

Don’t be blind to China’s rise in a changing world

People know all to well how China deals with its new power - to the detriment of many

Originally Posted by harrybarracuda

SWIFT has two data centres in Europe and one in the US. Given that data centres are usually at the hub of network traffic, I'll let you do the maths.

Wondering if Denmark is the best location for your new data centre? Just ask Apple, Facebook and Google.

Yeah, Baby

Originally Posted by OhOh

Does it publish those facts?

Yes on its website.

Visa, for example, is similarly funded by its members based on transactions fees. It has two data centers in the US, one in Europe and one in Asia.

Why do you think that is?

Originally Posted by harrybarracuda

Why do you think that is?

Western US-led monopolkapitalism and anti-Chinese hegemonic racism

Originally Posted by panama hat

Western US-led monopolkapitalism and anti-Chinese hegemonic racism

I think even HooHoo can actually work out the real reason.

Originally Posted by OhOh

The case for investing in China remains intact

I'm more interested that the chinkies stop blocking the Wuhan Virus investigation than whether or not it's worth investing there.

Especially as this one has had a significant effect on investors everywhere.

^It's not nice from them not disclosing all the details of the 2019 Military World Games in October 2019...

Originally Posted by Klondyke

It's not nice

for someone your age to be so utterly devoid of reason, but there you have it.

I wonder how successful China is in this given the constant breaking of agreements for political advantage

Except it's not, OhOh . . . but then you think China is a 'Third World' country . . . fair enough.

QED, eh.

Originally Posted by Backspin

The US economy is the biggest monetary distortion in history. And this is the kinds of results it gets

'Em. Does this look like the strongest economy in the world ?

You can see that the US's death/despair index is at the same levels of Germany in 1990. The Germany that was half communist a year before

Originally Posted by Backspin

'Em. Does this look like the strongest economy in the world ?

Erm, are you too stupid to know when th thread was started and what constitutes 'strongest'?

Originally Posted by panama hat

Erm, are you too stupid to know when th thread was started and what constitutes 'strongest'?

The thread is a total US economy puff piece from post #1. And Deeks and another seppo, reaffirmed as much 2 pages ago.

Originally Posted by Backspin

Deeks and another seppo, reaffirmed as much

. . . but, but . . . they'll leave you just like Pseudo did. After you 'went to bat' for him/them.

Originally Posted by Backspin

The thread is a total US economy puff piece from post #1.

Umm, ok. If I find two posts, aside from deeks and 'another seppo', that are critical will you piss off, seeing as you're just talking shit again?

Well there's the irony. Post- Covid, I think there are few mildly informed people who would argue that the USA is the world's strongest economy now. Enter the dreaded C word.

Originally Posted by sabang

Enter the dreaded C word.

Cvnt?

That is merely your Opinion.

Ah do declare, I know not what you're intimatin'

WASHINGTON (AP) — The U.S. economy grew at a better-than-expected 2.6% annual rate from July through September, snapping two straight quarters of economic contraction and overcoming punishingly high inflation and interest rates.

Thursday’s estimate from the Commerce Department showed that the nation’s gross domestic product — the broadest gauge of economic output — grew in the third quarter after having shrunk in the first half of 2022. Stronger exports and steady consumer spending, backed by a healthy job market, helped restore growth to the world’s biggest economy.

Consumer spending, which accounts for about 70% of U.S. economic activity, expanded at a 1.4% annual pace, down from a 2% rate from April through June. Last quarter’s growth also got a boost from exports, which shot up at an annual pace of 14.4%.

Housing investment, though, plunged at a 26% annual pace, hammered by surging mortgage rates as the Federal Reserve raises borrowing costs to combat chronic inflation.

The outlook for the overall economy has darkened. The Fed has raised interest rates five times this year and is set to do so again next week and in December. Chair Jerome Powell has warned that the Fed’s hikes will bring “pain” in the form of higher unemployment and possibly a recession.

The government’s latest GDP report comes as Americans, worried about inflation and the risk of recession, have begun to vote in midterm elections that will determine whether President Joe Biden’s Democratic Party retains control of Congress. Inflation has become a signature issue for Republican attacks on the Democrats’ stewardship of the economy.

With inflation still near a 40-year high, steady price spikes have been pressuring households across the country. At the same time, rising interest rates have derailed the housing market and are likely to inflict broader damage over time. The outlook for the world economy, too, grows bleaker the longer that Russia’s war against Ukraine drags on.

Last quarter’s U.S. economic growth reversed annual declines of 1.6% from January through March and 0.6% from April through June. Consecutive quarters of declining economic output are one informal definition of a recession. But most economists have said they believe the economy skirted a recession, noting the still-resilient job market and steady spending by consumers. Most of them have expressed concern, though, that a recession is likely next year as the Fed steadily tightens credit.

Preston Caldwell, head of U.S. economics for the financial services firm Morningstar, noted that the economy’s contraction in the first half of the year was caused largely by factors that don’t reflect its underlying health and so “very likely did not constitute a genuine economic slowdown.” He pointed, for example, to a drop in business inventories, a cyclical event that tends to reverse itself over time.

Higher borrowing costs have weakened the home market, in particular. The average rate on a 30-year fixed-rate mortgage, just 3.09% a year ago, is approaching 7%. Sales of existing homes have fallen for eight straight months. Construction of new homes is down nearly 8% from a year ago.

Still, the economy retains pockets of strength. One is the vitally important job market. Employers have added an average of 420,000 jobs a month this year, putting 2022 on track to be the second-best year for job creation (behind 2021) in Labor Department records going back to 1940. The unemployment rate was 3.5% last month, matching a half-century low.

Hiring has been decelerating, though. In September, the economy added 263,000 jobs — solid but the lowest total since April 2021.

International events are causing further concerns. Russia’s invasion of Ukraine has disrupted trade and raised prices of energy and food, creating a crisis for poor countries. The International Monetary Fund, citing the war, this month downgraded its outlook for the world economy in 2023.

U.S. economy snaps contraction streak with 2.6 percent growth last quarter | PBS NewsHour

The U.S. economy will continue to provide most of the thrust for global growth through the balance of this year and in 2025, led by robust consumer spending that has held up through a wrenching bout of inflation and the high interest rates used to tame it, the International Monetary Fund said on Tuesday.In its latest World Economic Outlook, the IMF raised its 2024 and 2025 economic growth forecasts for the U.S. - the only developed economy to see its outlook marked up for both years - and its chief economist said the "soft landing" sought by the Federal Reserve in which inflation eases without big damage to the job market had largely been achieved.

Emerging market powerhouses India and Brazil also stood out on the upside of the IMF forecasts, while it dialed back growth expectations for China for this year and left next year's forecast for the world's No. 2 economy at a below-trend 4.5%.

Still, it warned that risks abound from armed conflicts, potential new trade wars and the hangover from the tight monetary policy employed by the Fed and other central banks to rein in inflation.

"Today, the IMF reported that the United States is leading the advanced economies on growth for the second year in a row," Lael Brainard, the director of the White House's National Economic Council, said in a statement.

The IMF's latest World Economic Outlook said the shifts will leave 2024 global GDP growth unchanged from the 3.2% projected by the global lender in July, setting a lackluster tone for growth as world finance leaders gather in Washington this week for the IMF and World Bank annual meetings.

Global growth is projected to be 3.2% in 2025, one-tenth of a percentage point lower than forecast in July, while medium-term growth is expected to fade to a "mediocre" 3.1% in five years, well below its pre-pandemic trend, the report showed.

Nonetheless, the IMF's chief economist, Pierre-Olivier Gourinchas, said some countries, including the U.S., were showing resilience.

"The news on the U.S. is very good in a sense," Gourinchas said at a press conference in Washington. "The labor market picture remains one that is fairly robust, even though it has cooled off."

"I think the risks of a recession in the U.S. in the absence of a very sharp shock would be somewhat diminished," he said.

Although Gourinchas said it looked as if the global inflation battle had largely been won, he told Reuters in an interview there is a risk that monetary policy could "mechanically" become too tight without interest rate cuts in some countries as inflation subsides, weighing on growth and jobs.

CONSUMER STRENGTH

The IMF revised its 2024 U.S. growth forecast upward by two-tenths of a percentage point to 2.8% due largely to stronger-than-expected consumption fueled by rising wages and asset prices. The global lender also upgraded its 2025 U.S. growth outlook by three-tenths of a percentage point to 2.2%, slightly delaying a return to trend growth.

Brazil got a sharp upgrade of nine-tenths of a percentage point, raising its projected growth rate this year to 3.0%, also on the back of stronger private consumption and investment. Mexico's growth, however, was marked down by seven-tenths of a percentage point to 1.5% because of the effects of tighter monetary policy.

The IMF cut China's 2024 growth rate by two-tenths of a percentage point to 4.8%, with a boost from net exports partly offsetting continued weakness in the property sector and low consumer confidence. The IMF's 2025 China growth forecast, which was unchanged, does not include any impact from Beijing's recently announced fiscal stimulus plans, which are still largely undefined.

Germany will see zero growth this year, a markdown of two-tenths of a percentage point, as its manufacturing sector continues to struggle, the IMF projected. The reduction helped to drag down the forecast for overall euro zone growth slightly to 0.8% for 2024 and 1.2% for 2025 despite a half-percentage-point upgrade that pushed Spain's projected growth to 2.9%.

Britain's long-suffering growth outlook got a boost of four-tenths of a percentage point to 1.1% for 2024 as falling inflation and lower interest rates are expected to stoke consumer demand. The growth forecast for Japan was lowered by four-tenths of a percentage point to 0.3% due to the lingering effects of supply disruptions.

India continues to be a bright spot, with the strongest projected growth among major economies at 7.0% in 2024 and 6.5% in 2025, unchanged from the July outlook.

TRADE RISKS

In counting risks to the outlook, the IMF report flagged the potential for major tariff increases and retaliatory measures, but it did not single out U.S. Republican presidential candidate Donald Trump's vow to impose tariffs of 10% on global imports to the U.S., and 60% on goods from China.

Instead, it contained a proxy adverse scenario that includes 10% two-way tariffs among the U.S., euro zone and China plus 10% U.S. tariffs on the rest of the world, reduced migration to the U.S. and Europe, and financial market turmoil that tightens financial conditions. Were this to occur, the IMF said it would reduce the overall global GDP output level by 0.8% in 2025 and 1.3% in 2026.
Other risks outlined in the report included the potential for a spike in the prices of oil and other commodities should conflicts in the Middle East and Ukraine widen.

The IMF also cautioned countries against pursuing industrial policies to protect domestic industries and workers, saying that they often fail to deliver sustained improvements in living standards.

https://www.reuters.com/markets/us/i...my-2024-10-22/

The U.S. economy will continue to provide most of the thrust for global growth through the balance of this year and in 2025, led by robust consumer spending that has held up through a wrenching bout of inflation and the high interest rates used to tame it, the International Monetary Fund said on Tuesday.In its latest World Economic Outlook, the IMF raised its 2024 and 2025 economic growth forecasts for the U.S. - the only developed economy to see its outlook marked up for both years - and its chief economist said the "soft landing" sought by the Federal Reserve in which inflation eases without big damage to the job market had largely been achieved.

Emerging market powerhouses India and Brazil also stood out on the upside of the IMF forecasts, while it dialed back growth expectations for China for this year and left next year's forecast for the world's No. 2 economy at a below-trend 4.5%.

Still, it warned that risks abound from armed conflicts, potential new trade wars and the hangover from the tight monetary policy employed by the Fed and other central banks to rein in inflation.

"Today, the IMF reported that the United States is leading the advanced economies on growth for the second year in a row," Lael Brainard, the director of the White House's National Economic Council, said in a statement.

The IMF's latest World Economic Outlook said the shifts will leave 2024 global GDP growth unchanged from the 3.2% projected by the global lender in July, setting a lackluster tone for growth as world finance leaders gather in Washington this week for the IMF and World Bank annual meetings.

Global growth is projected to be 3.2% in 2025, one-tenth of a percentage point lower than forecast in July, while medium-term growth is expected to fade to a "mediocre" 3.1% in five years, well below its pre-pandemic trend, the report showed.

Nonetheless, the IMF's chief economist, Pierre-Olivier Gourinchas, said some countries, including the U.S., were showing resilience.

"The news on the U.S. is very good in a sense," Gourinchas said at a press conference in Washington. "The labor market picture remains one that is fairly robust, even though it has cooled off."

"I think the risks of a recession in the U.S. in the absence of a very sharp shock would be somewhat diminished," he said.

Although Gourinchas said it looked as if the global inflation battle had largely been won, he told Reuters in an interview there is a risk that monetary policy could "mechanically" become too tight without interest rate cuts in some countries as inflation subsides, weighing on growth and jobs.

CONSUMER STRENGTH

The IMF revised its 2024 U.S. growth forecast upward by two-tenths of a percentage point to 2.8% due largely to stronger-than-expected consumption fueled by rising wages and asset prices. The global lender also upgraded its 2025 U.S. growth outlook by three-tenths of a percentage point to 2.2%, slightly delaying a return to trend growth.

Brazil got a sharp upgrade of nine-tenths of a percentage point, raising its projected growth rate this year to 3.0%, also on the back of stronger private consumption and investment. Mexico's growth, however, was marked down by seven-tenths of a percentage point to 1.5% because of the effects of tighter monetary policy.

The IMF cut China's 2024 growth rate by two-tenths of a percentage point to 4.8%, with a boost from net exports partly offsetting continued weakness in the property sector and low consumer confidence. The IMF's 2025 China growth forecast, which was unchanged, does not include any impact from Beijing's recently announced fiscal stimulus plans, which are still largely undefined.

Germany will see zero growth this year, a markdown of two-tenths of a percentage point, as its manufacturing sector continues to struggle, the IMF projected. The reduction helped to drag down the forecast for overall euro zone growth slightly to 0.8% for 2024 and 1.2% for 2025 despite a half-percentage-point upgrade that pushed Spain's projected growth to 2.9%.

Britain's long-suffering growth outlook got a boost of four-tenths of a percentage point to 1.1% for 2024 as falling inflation and lower interest rates are expected to stoke consumer demand. The growth forecast for Japan was lowered by four-tenths of a percentage point to 0.3% due to the lingering effects of supply disruptions.

India continues to be a bright spot, with the strongest projected growth among major economies at 7.0% in 2024 and 6.5% in 2025, unchanged from the July outlook.

TRADE RISKS

In counting risks to the outlook, the IMF report flagged the potential for major tariff increases and retaliatory measures, but it did not single out U.S. Republican presidential candidate Donald Trump's vow to impose tariffs of 10% on global imports to the U.S., and 60% on goods from China.

Instead, it contained a proxy adverse scenario that includes 10% two-way tariffs among the U.S., euro zone and China plus 10% U.S. tariffs on the rest of the world, reduced migration to the U.S. and Europe, and financial market turmoil that tightens financial conditions. Were this to occur, the IMF said it would reduce the overall global GDP output level by 0.8% in 2025 and 1.3% in 2026.

Other risks outlined in the report included the potential for a spike in the prices of oil and other commodities should conflicts in the Middle East and Ukraine widen.

The IMF also cautioned countries against pursuing industrial policies to protect domestic industries and workers, saying that they often fail to deliver sustained improvements in living standards.

https://www.reuters.com/markets/us/i...my-2024-10-22/

^ But will it be enough to keep the deranged orange lunatic and his cult from taking over?

Reading the cesspit that is Twitter and seeing Musk's non stop propaganda and fallacies, I fear it may not be.

Btw, we've said it before, but the American right is one scary as hell group of nutters.