ANOTHER WIN for President Joe: US Economic Growth Rate surpasses China, 1st time since 1976! 🔥

[Tommymac]

Link to tweet

How do ya like these free economy apples, Mr. Authoritarian Li Keqiang?







#GOTV2022

https://www.bloomberg.com/news/articles/2022-05-20/us-growth-seen-outpacing-china-s-for-first-time-since-1976

US Growth Seen Outpacing China’s for First Time Since 1976
ByTom Hancock and Chris Anstey
May 20, 2022, 2:00 AM EDT

Bloomberg Economics sees China slowing to 2% on Covid curbs
Such a growth rate would be weakest since Cultural Revolution

China's per-capita GDP remains well below US, showcasing growth potential
Source: International Monetary Fund World Economic Outlook database April 2022
Note: per-capita GDP in current-dollar terms.

President Joe Biden, who is urging congressional lawmakers to pass a package of legislation aimed at strengthening US competitiveness against China, would be sure to seize on such a relative growth outcome. He has framed his economic agenda in part around demonstrating whether democracies can stand up to Xi’s authoritarian model.

[tritsofme]

1. Not sure why this should be viewed as positive news?

If economic growth slows in China, let alone a dip into recession, it would be horrible for the global economy.

[True Dough]

3. I have to agree

It's like China is shooting itself in the foot and America is doing better, but we all still suffer from China shooting itself in the foot!

[Shermann]

5. Yeah, just a win by default when the other team doesn't show up nt

[uponit7771]

2. M$M: "... but on the other hand it was colder than usual in the midwest and that's Biden's fault"

[Tickle]

9. lol

Can I blame our weekend heat wave on him to

[progree]

4. There's been a recent slowdown -- U.S. Q1 GDP declined at a 1.4% annual rate

https://www.democraticunderground.com/10142909216

That's based on the first estimate. The second estimate comes out Thursday. The 3rd and final estimate comes out in late June.

[Tommymac]

6. Exact numbers are not the point of the OP - the fact we are ahead of Authoritarian China is.

That is the thrust of the tweet and the Bloomberg article.

Thanks for sharing the link on the numbers too.

[progree]

8. It's Bloomberg's prediction for the full year. We shall see. There's a lot of jibber jabber about

a 2nd negative U.S. GDP quarter in the media. We shall see.

The world’s second-largest economy will grow just 2% this year, Bloomberg Economics wrote in a report Thursday. By comparison, US gross domestic product will increase 2.8% this year, Bloomberg Economics predicts.

As for the U.S. being ahead, in the most meaningful sense of the word, it's long long been the case -- China's GDP is 2nd to the U.S. despite having 4.2 times the population, so their GDP per capita is far below the U.S.

Their percentage growth rate has been higher for decades as they utilized mostly 1st World-developed technology to turn their country from a 4th world economy to perhaps at best a 2nd world economy on a living standards basis.

[Buckeyeblue]

7. More reason that we should just spend our way out of this inflation

It's a different type of inflation. Because of covid and disrupted supply lines. We should keep interest rates low and encourage spending. Both at the individual and government level. Eventually prices will come down.

[onenote]

14. How will increasing spending lower inflation?

[C Moon]

10. Post this in LBN!!

Oh. It's a tweet, but maybe it's in the news somewhere!

[former9thward]

13. Its a prediction.

Not actual numbers. Not eligible for LBN.

[C Moon]

16. ...

[David__77]

11. GDP, and 1,000,000 dead.

Things to consider.

[RussBLib]

12. based on projections...

...which can turn out to be quite wrong.

I'd rather we wait to crow about this until we turn our own GDP around. Negative GDP in Q1 of 22 is nothing to crow about, that's for sure.

Somebody tell the markets!!

[former9thward]

15. The US had negative growth in the first quarter.

China had positive growth. I don't see how the U.S. is surpassing China. For the rest of the year maybe we should wait until actual numbers are reported.

[Polybius]

17. I can't see how you are cheering

Inflation, stocks, and gas prices are what people care about.

[progree]

18. And the lockups that are a large part of China's GDP slowdown are causing the U.S. economy problems

with supply chain issues and its ripple effects.

[Tommymac]

19. I'm cheering positive news about President Joe's actions. What's the issue with that?

This is a site meant to promote GOTV and getting Democrats elected.

WTF do I want to post negative stuff - I'll leave that to others here. I'm a GOTV cheerleader, always have been.

That is why I posted this, and why I will continue to post any good news that Democrats can crow about.

Yes - it is a tweet, and yes the Blooomberg article is part projection, but it is still putting a Positive spin on the President's policies, instead of the godawful coverage he is receiving in the M$M.

I'll continue to cheer about Democrats, don't like it, don't read my OP's.



#GOTV2022

[Polybius]

20. There's nothing to cheer about when we only came out ahead because of China's lockdown

Inflation and gas prices are horrible. You are free to cheer those too if you like.

[Tommymac]

21. Bullshit. There is PLENTY to Cheer about. The Glass is half full.

I will not be replying to you again - I don't need the negativity in my life, in my world, or in MY COUNTRY.



Have a nice day.

[Polybius]

22. You have an attitude

I don't.