Showing posts with label GDP. Show all posts
Showing posts with label GDP. Show all posts
29 August 2012
Gonzalo Lira Interviewed by RT: BRICS Meet About Non-Military Intervention & Global Economic
The US GDP is $15 Trillion. The Eurozone GDP is $16 Trillion. And the BRICS countries, (Brazil, Russia, India, China & South Africa) with 42% the world's population and 75% of the reserve currencies in their banks, are also the fastest growing economic group on the planet with largest group of GDP at $18 Trillion.
As you will earn in this interview of Economic Analyst Gonzalo Lira by Russia Today, the intra-trade between these five countries is growing at a 30% clip yearly.
More importantly, they are discussing how to clear trades among themselves with their own currencies, not with the US Dollar, the reserve currency.
09 August 2012
Chart of the Day: US Garbage Indicator
Hat tip to businessinsider.com for bringing this one to my attention. It is pretty much self-explanatory, but if you don't catch on at first, there is a businessinsider.com explanation below.
Among the 21 categories of items shipped by rail, none have a tighter correlation to GDP than waste.
According to a 2010 piece on Bloomberg, economists Michael McDonough and Carl Riccadonna note that waste has an 82 percent correlation to US economic growth. This should be pretty intuitive. The more you produce, the more you throw out.
McDonough, a Bloomberg BRIEF economist, tweeted out an update on the indicator. And frankly, it stinks. Waste carloads are way down. Business Insider
21 July 2011
The Growing Danger Of The Chinese Real Estate Bubble
China's massive oversupply of real estate inventory is now rumored to contain upwards of 64 Million new apartment units. In this look at Chinese "Ghost Towns", journeyman.tv takes us into brand new malls where there are no shop keepers and no shoppers, to brand new cities where 75% of all units are vacant.
We also learn why the vacancies are so high as the Chinese Government continues to build, build, build and nobody comes.
This past week we hear of riots in Western China where four were killed. As further polarization between the labor class and the upper classes grows in China, the central government runs the chance of feeding a blow up of property values, the Chinese Economy, and the Chinese nation...
We also learn why the vacancies are so high as the Chinese Government continues to build, build, build and nobody comes.
This past week we hear of riots in Western China where four were killed. As further polarization between the labor class and the upper classes grows in China, the central government runs the chance of feeding a blow up of property values, the Chinese Economy, and the Chinese nation...
29 June 2011
Global Industrial Growth's Pace Has Peaked And Will Continue To Slow Down
Lakshman Achuthan, co-founder and managing director of the Economic Cycle Research Institute, says Global Industrial Growth has peaked and is slowing down. He also says the US Economy is going to slow down dramatically.
Specifically, this slowdown in the US will be at least a couple of quarters long, and possibly longer. Achuthan bases this call on long term indicators which does not include commodities or stock market indicators. It does, however, look at housing, profits, etc.
His firm follows 20 countries and he says this is a natural progression of the ebb and flow of the Global Economy business cycle.
Specifically, this slowdown in the US will be at least a couple of quarters long, and possibly longer. Achuthan bases this call on long term indicators which does not include commodities or stock market indicators. It does, however, look at housing, profits, etc.
His firm follows 20 countries and he says this is a natural progression of the ebb and flow of the Global Economy business cycle.
23 June 2011
Max Keiser Report 6/22/11 - Greece News And An Interesting Interview With Professor Steve Keen
Max Keiser and his sidekick, Stacy, report on their recent trip to Greece where they witnessed a society taking it to the streets.
They also cover the IMF report which just downgraded the United States' GDP rate from 2.7 to 2.5%. Kaiser says these numbers are cooked. Stacy and Max stop and consider the irony in this as Stacy points out the IMF just a few years ago was "bankrupt". Then they focus on how the IMF is playing Hank Paulson type of politics with America, calling for America to increase its debt ceiling ASAP. As Stacy points out, all the IMF wants is more debt posted by America. If America will increase its debt to the banksters, the IMF will cease downgrading American GDP.
They then cover these sentences from a recent piece in the Financial Times by Stephen Roach: "The global economy is being hobbled by a new generation of zombies, the economic walking dead. The US Consumer is in the early stages of an unprecedented retrenchment."
Max Keiser Interviews Professor Steve Keen
After Stacy completes her segment of tossing headlines to Max, Max comes back from a break in the show to interview "The Non-Economist, Non-Economist" Australian Economics Professor Steve Keen. Professor Keen takes Keiser through the differences of private vs. public debt . . . a fascinating explanation of why we are in a Global Debt Crisis today. Keen beautifully explains private created debt drives the economy while government debt is like an ambulance which comes along to rescue the bad drivers in the private sector.
Possibly the most contentious assertion which Keen makes is the only way for us to get out of this mess is to increase private wages. Keen says raising wages will cause inflation; however, he states the only way to reduce the "value" of our debt is to increase inflation.
Lastly, my favorite thought from Steve Keen is how he looks at the banks. He says they are the big villains in the Credit Crisis as they are not in the business of lending money to finance business capitalization any longer, but are in the business of speculation.
They also cover the IMF report which just downgraded the United States' GDP rate from 2.7 to 2.5%. Kaiser says these numbers are cooked. Stacy and Max stop and consider the irony in this as Stacy points out the IMF just a few years ago was "bankrupt". Then they focus on how the IMF is playing Hank Paulson type of politics with America, calling for America to increase its debt ceiling ASAP. As Stacy points out, all the IMF wants is more debt posted by America. If America will increase its debt to the banksters, the IMF will cease downgrading American GDP.
They then cover these sentences from a recent piece in the Financial Times by Stephen Roach: "The global economy is being hobbled by a new generation of zombies, the economic walking dead. The US Consumer is in the early stages of an unprecedented retrenchment."
Max Keiser Interviews Professor Steve Keen
After Stacy completes her segment of tossing headlines to Max, Max comes back from a break in the show to interview "The Non-Economist, Non-Economist" Australian Economics Professor Steve Keen. Professor Keen takes Keiser through the differences of private vs. public debt . . . a fascinating explanation of why we are in a Global Debt Crisis today. Keen beautifully explains private created debt drives the economy while government debt is like an ambulance which comes along to rescue the bad drivers in the private sector.
Possibly the most contentious assertion which Keen makes is the only way for us to get out of this mess is to increase private wages. Keen says raising wages will cause inflation; however, he states the only way to reduce the "value" of our debt is to increase inflation.
Lastly, my favorite thought from Steve Keen is how he looks at the banks. He says they are the big villains in the Credit Crisis as they are not in the business of lending money to finance business capitalization any longer, but are in the business of speculation.
21 December 2010
David Stockman Tells Dylan Ratigan What The Biggest Fiscal Mistake In US History Is
David Stockman, former Director of OMB during Ronald Reagan's administration, and Dylan Ratigan discuss the Tax Cut deal between Republicans and Democrats. Stockman calls the Bush Tax Cuts "the biggest fiscal mistake in history."
As Ratigan points out in the segment's beginning, the defecit has been a problem for the better part of 30 years. In 1981, under Ronald Reagan, our debt was 32% of our GDP. When Reagan left office, our debt/GDP ratio had grown to 52%.
Today, our debt is 94% of our GDP.
Ratigan and Stockman talk candidly about the reasons we are in this sad state of burgeoning debt and shrinking revenues.
And toward the end of this interview, Stockman let's loose with this:
"In January 2000, there were 72 million middle class jobs . . . manufacturing, construction, finance, insurance, real estate, the professions, transportation, distribution and so forth. Today, a decade later, there are only 65 million (middle class jobs). We've lost 10% of our middle class family supporting jobs, and we've only created temporary, part-time jobs, so there's been no real growth. What we've had instead is a Fed engineered serial bubble that's created the appearance of wealth, that has caused people to consume beyond their means through borrowing and that has flushed the income and the wealth of our society up to the top as a result of the Fed turning the financial markets into a casino.
These are pure casinos. They are NOT capital markets. They are not adding to the productive capacity of our Economy. They are simply a bunch of robots trading with each other by the millisecond as a result of the Fed giving them Zero Cost overnight money and giving them all kinds of hand signals on what to front run.
This is a very bad mess and we're not going to get our Economy solved until we get a totally new policy at the Fed and a clean up of this whole casino that used to be called Wall Street."
As Ratigan points out in the segment's beginning, the defecit has been a problem for the better part of 30 years. In 1981, under Ronald Reagan, our debt was 32% of our GDP. When Reagan left office, our debt/GDP ratio had grown to 52%.
Today, our debt is 94% of our GDP.
Ratigan and Stockman talk candidly about the reasons we are in this sad state of burgeoning debt and shrinking revenues.
As Stockman so succinctly says, "We are destroying the Economy on Uncle Sam's credit card. And the idea that (the extended Bush Tax Cuts) this will cause consumers to spend for some more junk from Home Depot that's going to be made in China . . . to me . . . doesn't make any sense at all."
And toward the end of this interview, Stockman let's loose with this:
"In January 2000, there were 72 million middle class jobs . . . manufacturing, construction, finance, insurance, real estate, the professions, transportation, distribution and so forth. Today, a decade later, there are only 65 million (middle class jobs). We've lost 10% of our middle class family supporting jobs, and we've only created temporary, part-time jobs, so there's been no real growth. What we've had instead is a Fed engineered serial bubble that's created the appearance of wealth, that has caused people to consume beyond their means through borrowing and that has flushed the income and the wealth of our society up to the top as a result of the Fed turning the financial markets into a casino.
These are pure casinos. They are NOT capital markets. They are not adding to the productive capacity of our Economy. They are simply a bunch of robots trading with each other by the millisecond as a result of the Fed giving them Zero Cost overnight money and giving them all kinds of hand signals on what to front run.
This is a very bad mess and we're not going to get our Economy solved until we get a totally new policy at the Fed and a clean up of this whole casino that used to be called Wall Street."
27 February 2010
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