American Economics Thread


Bernard

Junior Member
The Future of U.S. Economic Growth

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Featuring Brink Lindsey, Vice President for Research, Cato Institute; Erik Brynjolfsson, Massachusetts Institute of Technology; Edward Glaeser, Harvard University; Robert Gordon, Northwestern University; Dale Jorgenson, Harvard University; and Edmund Phelps, Columbia University.

The Great Recession ended over five years ago, so why does the U.S. economy remain so sluggish? Fears are mounting that growth rates well below the long-term historical trend line may now be the “new normal.” Labor-force participation has been falling, while growth in labor skills has slowed considerably. Furthermore, the main engine of innovation—the “creative destruction” of entrepreneurial dynamism—appears to be sputtering, as the rates of both gross job creation and destruction and new firm formation have been declining steadily. Meanwhile, some experts even argue that the low-hanging fruit of major transformative breakthroughs has already been plucked and that, consequently, technological progress itself is winding down.

The purpose of this conference is to assess the long-term growth outlook of the U.S. economy and explore what policy changes might be needed to arrest and reverse the growth slowdown. We will bring together top economists and other experts for a full-day conference on these vital issues, with the first three sessions devoted to diagnosis of the key problems and the final two sessions focused on prescriptions for growth-enhancing policy reforms.

In conjunction with the conference, the Cato Institute is hosting
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. We have reached out to leading economists and policy experts and challenged them to answer the following question: “If you could wave a magic wand and make one or two policy or institutional changes to brighten the U.S. economy’s long-term growth prospects, what would you change and why?” Their response essays will be made available
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in the run-up to the conference.

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My opinion on how to fix American economic stagnation. Stop turning into Europe. Drop all the stupid pointless economic regulations (usually bought by rich corporate lobbyist or corrupt stupid unelected offices like EPA), get rid of lobbying to a degree (legal bribery), fix social programs. Done
 

kwaigonegin

Colonel
Wow, Detroit ranks number 5. Hard to believe.

It is consider a hell hole by most americans....and was featured in many films and comedy as a gag...(Robocop for example, and my favourite
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).

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Its so bad even people in Cleveland laugh at Detroit...(although according to above stats Cleveland ranks number 1)

Detroit now

Some of these stats you have to take into account the geographical considerations. Detroit to you and me may not be the same as 'Detroit' to the people doing the stats.

Why? because unlike most nations in the US, you may have 'cities' colocating or next to other cities.Many others have tiny lil cities and combine to become a metro area together with the principal city.

Take my city as an example. The metro StL consists of almost 80 cities or townships. Some of these cities represents both low and high.

Take Frontenanc - median income 140K
Wellston - median income 20K

yet both are considered St Louis to outsiders. I can choose and pick and make stats do whatever I want them to say.

Same with crime rates, and any other types of stats you can think of.
I can pick couple of blocks in the city and it'll be more dangerous than Kandahar or vice versa and be safer than fort knox yet those streets could be only half a mile from each other.
 

Equation

Lieutenant General
Good news here in America, unemployment rate are down in 21 states.:D Love him or hate him, you gotta admit President Obama is doing something right domestically as far as the economy goes.

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montyp165

Junior Member
Good news here in America, unemployment rate are down in 21 states.:D Love him or hate him, you gotta admit President Obama is doing something right domestically as far as the economy goes.

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It's important to note though what types of jobs are being made to offset the ones lost, as well as the worker income/time spent at work, otherwise it would be a net loss being presented as a gain.
 

Blackstone

Brigadier
Good news here in America, unemployment rate are down in 21 states.:D Love him or hate him, you gotta admit President Obama is doing something right domestically as far as the economy goes.

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The quality of job gains Mr. Obama presided over are less well paid than the ones lost. It's true Bush43's bumbling of the American economy didn't help, but Obama didn't help things with his efforts to turn America into Europe.
 

Ultra

Junior Member
My opinion on how to fix American economic stagnation. Stop turning into Europe. Drop all the stupid pointless economic regulations (usually bought by rich corporate lobbyist or corrupt stupid unelected offices like EPA), get rid of lobbying to a degree (legal bribery), fix social programs. Done


I got a very very simple and highly effective solution to all American economic ill. In fact, it will help world peace! :D

As most of the wealth (like everywhere else in the world) are in the hands of the few, the top 10%, it means majority of Chinese wealth are in the hands of only few million people.

Hence, allows all Chinese citizens who invest in american $5 million or more to get US citizenship (greencard) automatically! There are over 1 million chinese with a networth of over a million dollar USD in China who just can't wait to get out to live somewhere nicer than environmentally polluted China! :D There is only one condition though - they must not move that investment away from America - if they do, its automatic cancellation of their citizenship/greencard and they are sent back to China!

The policy can continue to lower the requirement as it goes along - from $5 million down to $2 million down to $1 million. I will bet in no time at all it will take out more than the steam in Chinese economy, it will effectively take out the engine. There will be a huge capital flights in China as almost every Chinese wants to get out of China (they couldn't wait to send their kids to colleges overseas), it will be like Greece! China's economy will slow down massively due to this capital flights (and brain drain - as those capable of becoming rich are usually pretty smart), Chinese government will get a whole lot less tax revenue which in turn means much less to spend on military spending, which in turn means less weaponry, and less threat to the region and america.

The money these chinese immigrants ($5 million each, 1 million of them = $5 trillion USD) bring to america, will rocket the economy, and bring jobs (these are mostly entrepreneur, they do what they do best - create wealth) to the economy as they open up shops, factories, create products and services in america.

But that's not going to happen. Because most americans are xenophobic, the idea of allowing millions of rich chinese to settle in America will create an uproar more then the illegal immigration from the south of the border - which is ironic as these illegal immigrants are mostly burden to america where as allowing rich, educated chinese to america is a plus. The headlines will say "The chinese takeover" or "The chinese invasion"!! Even though a million chinese is just a very very tiny drop in the bucket compare to 50 million illegal immigrants in America right now.
 

SamuraiBlue

Captain
Why would the US want to give permanent residence rights to people when they are already taxed?
Whether it be real estate or stocks if/when they gain capital gain within the US they will be tax no matter which Citizenship they are.
 

Bernard

Junior Member
The money these chinese immigrants ($5 million each, 1 million of them = $5 trillion USD) bring to america, will rocket the economy, and bring jobs (these are mostly entrepreneur, they do what they do best - create wealth) to the economy as they open up shops, factories, create products and services in america.

But that's not going to happen. Because most americans are xenophobic, the idea of allowing millions of rich chinese to settle in America will create an uproar more then the illegal immigration from the south of the border - which is ironic as these illegal immigrants are mostly burden to america where as allowing rich, educated chinese to america is a plus. The headlines will say "The chinese takeover" or "The chinese invasion"!! Even though a million chinese is just a very very tiny drop in the bucket compare to 50 million illegal immigrants in America right now.

I don't know about the post if sounds anti-Chinese? But I think this policy would be huge! And let's not try to target Chinese, why not make it accessible to any country all over the world? I am sure there are hundreds or thousands of rich European, ME, Russian, Asian, etc. citizens who would definitely pay a large amount to move out of their countries to America, where political corruption, radical religions, civil war etc. happens. Maybe tax a portion of these green card investments and use the money to close the southern border to Mexico for illegal border jumpers and terrorist entering the country .
 
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