3rd?

Isn't it amazing that those countries with a strong social safety net like Germany, France, Italy, Japan and the EU have such strong economies.

Could it be that a strong middle class with health and pension and other benefits creates a thriving consumer economy that makes their economies grow?

I also noticed that Russia's economy is not in the top 10. This is what happens when a country is overly dependent on one commodity (in Russia's case, oil.) Rachel Maddow, in her book "BlowOut," suggests that this is why Putin is so obsessed with running the world and making life miserable for free nations (lacking economic clout, he chooses subterfuge and spying).

Who cares that much about rankings? Do you think when the German worker takes his six week paid vacation and comes back, restored and renewed, that he is worried over having a lower GNP than the U.S.?

MorkandMindy said:

In nominal terms the US GDP is still ahead of China and the EU.
China is expected to become first in 2026, with the EU possibly passing the US a few years later.

Nominal GDP 2019

1. U.S.: $21.4 trillion
2. EU: $15.6 trillion
3. China: $14.3 trillion
4. Japan: $5.1 trillion
5. Germany: $3.8 trillion
6. India: $2.9 trillion
7. U.K: $2.8 trillion
8. France: $2.7 trillion
9. Italy: $2.0 trillion
10. Brazil: $1.8 trillion

Click to expand...

Isn't the EU a group of countries?

I guess that is all good if it is accurate. I expected China to be a lot closer to the US. But I'm not sure we can really trust the numbers, when it comes to things like China under valuing it's currency etc. and otherwise cheating.

But I there is some potential good news. I use to watch this pair of Video Bloggers cover China. Lots of stuff that China builds is junk.

MorkandMindy said:

I have a disagreement over the way the US media compared the US economy with China for so very long.

They were making the point that China is winning because the labor rates are so much lower, emphasizing the need to cut pay in the US and ignoring the first reason US labor costs more which is the crazy medical costs, 17.7% of GDP.

Doing more work for less money was the message the rich wanted the US to hear at that time.

Click to expand...

Well... no, "the reason China is winning" is because there's more people living in China than Europe and North America combined. It's much easier to have a high GDP if your country has a big population.

If you were to compensate for population (i.e. calculate GDP per capita) then China wouldn't even be in the top 50.

Ken-1122 said:

Isn't the EU a group of countries?

Click to expand...

I'd suggest that many Republicans (the State's Rights faction) actually want to US to be the EU -- in terms of the US having 50 independent "nations" with a federal government to handle the military and monetary system/Interstate Commerce.

Hi government spending or deficit spending is part of our GDP. We are over 100% debt to GDP now and the trade imbalance is leaking more of our jobs every month. The US has benefited from having the dollar be the worlds reserve currency since WW2. When the world stops taking out debt based money as the standard it will be over for the US. Africa had an African union headed by Gadafi and he changed policy to only accept gold for African resources and this is why he was killed. The bankers who set up the Fed are behind the IMF and indeed the global reset strategy outlined by the World Economic forum is is full transition from the US based order to a global one. This stuff gets deep into end times bible prophecy and this is the kingdom of one world government that the anitchrist will ascend to power rising right now.

When the seals are open in Rev 6 we see described is a global hyperinflation with 1/4 of the earth dying of by the chaos that rises and the beasts. Many years ago Chuck Missler noted the beast could be a virus, bacteria or germ. The rider on the white horse comes and sets out to conquer and by chapter 13 he has dominion over every tribe tongue kindred and nation for exactly 42 months. A little bit later Babylon the city that made the merchants of the world rich through purchasing the luxury goods is destroyed in a single day. Now since WW2 only one nation has made the merchant of the world rich. And this nation is also accused of getting the other nations to join in her spiritual fornication and sorcery. This nation also exported all sorts of evil. Now the whole transfer from a US based system into a global one is the work of guys like Rockerfeller and Rothchilds and it has taken some 70 plus years to change culture and build up the UN to the point where this transfer of authority is achievable. If the end times is near then we can see world events track towards this end.

JSRG said:

Well... no, "the reason China is winning" is because there's more people living in China than Europe and North America combined. It's much easier to have a high GDP if your country has a big population.

If you were to compensate for population (i.e. calculate GDP per capita) then China wouldn't even be in the top 50.

Click to expand...

List of countries by GNI (nominal) per capita - Wikipedia

China is 64