American Economics Thread
- Thread starter Bernard
- Start date
So the petroleum removed from the Strategic Reserve counts as exports?
Indeed, goods and services and of goods, petroleum takes a large portion but doesn't dominate. US GDP would have grown in 3Q22 with or without SPR activity
Petroluem removed the Strategic Petroleum Reserve doesn't count in GDP since that would be double counting.
GDP measures the final value of all goods and services produced within a single time frame and excludes resales of the same product - when the government bought the oil, that would count as Government Expenditure in GDP; when the government sells it to anyone else (foreign or domestic), that would be a resale and thus excluded from GDP calculations since its still the same oil.
supercat
Major
Harbinger of a recession - China should buy more gold anyway.
Then there is this finance jihadist and his bad takes
Interesting video on the global (not just China) UST sell -off and where it might lead:
supercat
Major
Kyle Bass lost his pants by betting against Hong Kong Dollar and RMB, so he will never miss any opportunity to badmouth China's economy and currency. What he neglects to mention is that China has the most foreign exchange reserves in the world by far, even without counting Hong Kong's reserves, which is the world's 6th largest, as I pointed out in the Chinese Economics Thread yesterday:
Surprising tidbit:
Good question, I doubt U.S. policy makers dare to do anything to "hurt corporate profits".
