American Economics Thread
- Thread starter Bernard
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The CPI doesn't reflect real inflation as the way the calculate the CPI has been changed many times over the years the most recent is in 2023. Each time they do that they are trying to make the inflation numbers look lower than it actually is. The problem with American economic data is not how its collected but rather how it is interpreted.
The kind of services that the people are suppose to be consuming after COVID are mostly dominated by small businesses. And yet today the Small Business Optimism Index is even lower than during the pandemic when they were forced to shutdown.
Would like to see some inflation adjusted data. If something, say sugar, is 10% more expensive, and I spend 5% more money on it, it actually means I am getting less.
Meanwhile, their total budget revenues fell around 9% yoy at the end of 2023, despite super-duper great employment, giga-falling unemployment, and positive 2.5% GDP 'healthy growth', also despite inflation being 'just 3-4%', 'on paper'.
You can't trust their statements on anything anymore. They are doing statistical and media propaganda manipulations on everything nowadays. This is an end-stage empire where the media assumed total control of narratives to keep their populations from imploding.
Meanwhile in China for example the total revenues increased by 6.5%, totally in line with their real GDP growth and other indicators of the year. And don't let me start with electricity consumption. Everything coming from the US economy is 'virtual' BS.
You can't trust their statements on anything anymore. They are doing statistical and media propaganda manipulations on everything nowadays. This is an end-stage empire where the media assumed total control of narratives to keep their populations from imploding.
Meanwhile in China for example the total revenues increased by 6.5%, totally in line with their real GDP growth and other indicators of the year. And don't let me start with electricity consumption. Everything coming from the US economy is 'virtual' BS.
What do you expect from a fanatical Christian evangelist country who specialized in BS (Bible Study)
Since budget revenues are not adjusted for inflation, US budget revenue falling while suffering from high inflation means the actual revenue situation is even worse than the raw 9% revenue decrease suggests. While China is supposedly suffering from deflation but government revenue is rising faster than GDP despite the so called "deflation".
manqiangrexue
Brigadier
Doesn't surprise me with the level of cognition you consistently display but you were reminded only 3 posts above this one by @AndrewS
Thanks for the heads up but unnecessary; I already knew you were about to say things that are wrong again.
Omg you are bad at interpreting data. Because your data uses individuals aged 25-64, it includes decades where China was too poor to properly educate its people.
"The enrollment rate to higher education increased from 30 percent in 2012 to 57.8 percent in 2021"
China's growth is so drastic that in 2002, 10 years prior to the 30% seen in 2012, it was only 15%.
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Between 2002 and 2020, the percentage of young adults holding a higher diploma increased from 15% to 54%.
This means it was not the quality of people, but China's development and investment in education that made the difference.
In other words, some good, some bad. Absolutely nothing like the cream of the crop you were hoping for. How do you think China outsrips the US in development at every sector while sending the best to you?
Bimodal as you said, and then I also showed data that a child's scholastic achievement in the US is not positively correlated with economic status. And then there's people who came here illegally, or semi-legally. There are agencies in China that will smuggle or produce false documents to get low income people into the US; they pay everything they have to the agency, years of savings. Sometimes, they are lied to, being told that once in America, they can wash dishes or run deliveries for $100K a year so they can buy a nice house and car. In any case, all sorts of people, from those here to study (>80% returning apparently) to those here to get more money out of their menial labor. And it all doesn't even correlate to grades. The only thing that is a strong correlation is that Chinese scholastic achievement is the highest in any Western country that dares measure it, the top math teams of the world are almost all Chinese, and China's own math team bests everyone else most of the time, even when they use their ethnic Chinese teams. That's hard data. Your argument sounds like an old man with alzheimer's wandering around in a parking lot.
Ignoring everything else, a “higher diploma” includes associates degrees. 54% of young adults holding an associates degree or higher is still a more adversely selected cohort than 50% of individuals holding a bachelors degree. There are ~5 million bachelor degrees issued in China each year (), with ~20 million individuals in each youth cohort so ~25% of young adults in China hold a bachelors degree or higher.
manqiangrexue
Brigadier
Yeah sure, leave answer blank if no idea how to attempt.
You... didn't understand what you read? China is still developing, and with a population 4x that of the US, it needs more time to permeate higher education into the population. The US is a developed country with a decades long lead over China and far less people so the Chinese who go to the US will find it much easier to go to college. Decades ago, when China was very poor, your performance had to be at the top of your high school class to be considered for college because there weren't enough college spots to go around. Now those spots have increased drastically so China's education attainment has flown up and is accelerating if anything. The US has been saturated for decades so of course general college attainment is higher. The data you presented means nothing in terms of the quality of Chinese in America and in China.
The difference is that the quality of students produced by US and Chinese education is drastically different. Chinese scores always trump American scores at international education competitions. Chinese kids (and Asian kids) always lie at the top of the scholastic achievment spectrum in the US (and UK, and probably all Western countries) educational system as well.
One more time:
"Chinese scholastic achievement is the highest in any Western country that dares measure it, the top math teams of the world are almost all Chinese, and China's own math team bests everyone else most of the time, even when they use their ethnic Chinese teams. That's hard data."
These critical things are what you wish to "ignore" because there is no intelligent answer. Chinese educational results are just better everywhere. When Chinese people see a deficiency like this, we hound ourselves to improve. When Americans see dificiencies like this, the approach is the attempt to drown everything out with excuses until the failures don't hurt anymore.
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So we agree on everything here - Asian and Chinese are not coextensive in a U.S. context and Chinese-Americans individuals are broadly a positively selected high-performance cohort in the U.S. (effectively conceding this with the explanation of lower bach. rates as a function of development instead of contesting its factual basis). Prior historical development isn’t relevant because that 50% of individuals holding bachelors degrees applies to individuals born in China resident in the United States
I’m skeptical that Chinese-American cohorts are uniquely high-performing in the U.S. compared to other Asian-American cohorts (there are the ACS sections compared to the academic performance by nativity and math Olympiad - with their incredibly small sample sizes) but since that’s not measured outright, it’s all probabilistic guessing since Asian Indian, Chinese, Filipino, etc cohorts are all lumped into a broader “Asian” cohort. Your evidence of “socioeconomic status” not being correlated with educational performance was using parental nativity/place of parental birth as a placeholder for socioeconomic status which is a tenuous assumption as applied to Asian cohorts - foreign-born Asians have a very bimodal income distribution - (it’s much stronger for Hispanic cohorts, however), but regardless, socioeconomic status is strongly correlated with educational performance ().
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