Hows all that hopey changey working out for you America? Our economy is slipping, we remain in this recession err rather stealth depression because of the anti-business/ capitalist attitude coming from the obama imperial regime. While the regime is hammering US businesses with the highest corp taxes in the world, piles regs on year after year, forcing obamacare on the nation raising healthcare costs etc state capitalism aka communism is now No 1!
We are being beat out by a nation that produces cheap quality products who uses slave labor to produce the junk we will fight each other over every Black Friday that will end up in a dumpster years from now! They hack our networks steal products making cheap knockoffs where no one will do anything to put a stop to it. If you think DC will ever take action don’t hold your breath. Because they cannot get spending under control we have massive debt, debt (approx $2 trillion) this govt has sold to China!
Itâ€™s official: America is now No. 2
by Brett Arends | MarketWatch
Hang on to your hats, America.
And throw away that big, fat styrofoam finger while youâ€™re about it.
Thereâ€™s no easy way to say this, so Iâ€™ll just say it: Weâ€™re no longer No. 1. Today, weâ€™re No. 2. Yes, itâ€™s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.
It just happened â€” and almost nobody noticed.
The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in â€œrealâ€ terms of goods and services, China will this year produce $17.6 trillion â€” compared with $17.4 trillion for the U.S.A.
As recently as 2000, we produced nearly three times as much as the Chinese.
To put the numbers slightly differently, China now accounts for 16.5% of the global economy when measured in real purchasing-power terms, compared with 16.3% for the U.S.
This latest economic earthquake follows the development last year when China surpassed the U.S. for the first time in terms of global trade…more