Announcement

Collapse
No announcement yet.

Good Gawd! -- FY '03 Deficit of $450 Billion

Collapse
X
Collapse
 
  • Page of 14
  • Filter
  • Time
  • Show
Clear All
new posts
Previous 1 2 3 4 5 6 7 8 9 14 template Next
  • #61
    If I may draw your attention to the part in my post where I said "source: OECD & BEA" - but why am I bothering, you never look at anything that contradicts your political beliefs.
    I don't recall seeing that line in your original post...
    Last edited by el freako on Wednesday, 16th July 2003 at 09:53:08


    Since I'm awfully clueless about even the basic economics, I wouldn't know who should I trust in an ordinary situation, but luckily Fez is here... makes it much easier.

    But the answer is yes, and I see Jon has already explained.
    Thanks. I'll check it.

    Btw, there are also big differences concerning seasonal adjustment
    Old Kinderhook.

    Comment

    • #62
      I cited my source as the Economist. Get the latest magazine and you will notice Germany has an unemployment rate of 10-11%, and France has one around 10%.
      For there is [another] kind of violence, slower but just as deadly, destructive as the shot or the bomb in the night. This is the violence of institutions -- indifference, inaction, and decay. This is the violence that afflicts the poor, that poisons relations between men because their skin has different colors. - Bobby Kennedy (Mindless Menance of Violence)

      Comment

      • #63
        "Old Kinderhook" ?
        “Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)

        Comment

        • #64
          Originally posted by Fez
          I cited my source as the Economist. Get the latest magazine and you will notice Germany has an unemployment rate of 10-11%, and France has one around 10%.
          I did not know the Economist is a primary source of statistics.
          “Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)

          Comment

          • #65
            Originally posted by HershOstropoler


            I did not know the Economist is a primary source of statistics.
            Well in the magazine they got a bunch of listings and numbers...

            I read those often.
            For there is [another] kind of violence, slower but just as deadly, destructive as the shot or the bomb in the night. This is the violence of institutions -- indifference, inaction, and decay. This is the violence that afflicts the poor, that poisons relations between men because their skin has different colors. - Bobby Kennedy (Mindless Menance of Violence)

            Comment

            • #66
              Originally posted by Fez


              The US economy is actually growing. Germany is not and France registered minimal growth.

              I am talking about 2003.
              well that's mainly due to differences in the economic cycle, differences in the way the US, France and Germany measure inflation and differences in population growth.

              Both the US and France use a 'hedonic' deflator (this attempts to capture implicit price falls as IT equipment gets more powerful) whereas Germany (and every other rich country bar Australia) does not.

              When the US changed to using a hedonic deflator in 1999 they recalculated the growth rates for the whole period they have data for (from 1929 onwards).
              The growth rate for 1929-1998 using the new hedonic deflator turned out to be 0.5% a year higher than using the old method (in other words growth over that time was 40% more than previously thought) - I have also done a study checking this against nominal GDP values of the OECD converted using PPPs and the discrepancy is also around 0.5% a year (except for France and Australia where it is almost nothing).

              So let's see how this difference of measurement, coupled with differing population growth changes the figures for growth for the year to Q1 2003:

              Raw data, growth from Q1 2002 to Q1 2003
              United States: 2.0%
              Germany: 0.2%
              France: 1.1%

              Adjusting for differences in the measurement of inflation and population growth:
              United States: 0.8%
              Germany: 0.5%
              France: 0.7%

              Yes the US is still out ahead, but the difference is negligable and it would take a very long time to make up the relative losses that the US suffered in 2000-01.


              The OECD also publishes estimates of the growth in potential output, adjusting these for the above mentioned inflation measurement and population growth rates:
              United States: 1.7%
              Germany: 1.8%
              France: 1.8%

              What this means is that output per person in these three countries is growing at around the same rate - this is not to say that France and Germany couldn't do better (most of the rest of the EU is) but their performance relative to the US is equivalent.
              19th Century Liberal, 21st Century European

              Comment

              • #67
                Yes, but what about the problem in Germany and France with tough labor laws and outmoded industries? What about Germany's recession which has registered negative growth in two consecutive quarters? Again I cite The Economist magazine as my source.
                For there is [another] kind of violence, slower but just as deadly, destructive as the shot or the bomb in the night. This is the violence of institutions -- indifference, inaction, and decay. This is the violence that afflicts the poor, that poisons relations between men because their skin has different colors. - Bobby Kennedy (Mindless Menance of Violence)

                Comment

                • #68
                  Originally posted by Fez
                  I cited my source as the Economist. Get the latest magazine and you will notice Germany has an unemployment rate of 10-11%, and France has one around 10%.

                  You should read the footnotes on that page - there it also gives the 'EU harmonized' rate for Germany (currently 9.4%, 3.0% above the US level)


                  If Germany inflation (and thus growth) was measured using the US method then that recession would not have happened (although there still would have been a period of sluggish growth).

                  Germany's labour market is indeed not performing as well as most of the rest of europe - but then again it already had high levels of employment (69% of the working age population vs 71% in the US)
                  19th Century Liberal, 21st Century European

                  Comment

                  • #69
                    This is bull****. How can I talk with somebody who twists information to suit their own needs? GET IT RIGHT, FRANCE AND GERMANY ARE NOT DOING WELL AND ARE IN RECESSION. THE US IS NOT.
                    For there is [another] kind of violence, slower but just as deadly, destructive as the shot or the bomb in the night. This is the violence of institutions -- indifference, inaction, and decay. This is the violence that afflicts the poor, that poisons relations between men because their skin has different colors. - Bobby Kennedy (Mindless Menance of Violence)

                    Comment

                    • #70
                      It is interesting that you would rather swallow information that supports your political beliefs rather than actually checking my assertions.

                      I am sceptical of every statistic I come across - which is why I get the raw data and look for discrepancies (and also why I pedantically correct people like yourself who draw the wrong conclusions from processed data).

                      You appear to be sceptical of only that data which fails to support your political beliefs.

                      As such you could catagorize me as a scientist and you as a fundamentalist
                      19th Century Liberal, 21st Century European

                      Comment

                      • #71
                        You are nothing but a raving lunatic.
                        For there is [another] kind of violence, slower but just as deadly, destructive as the shot or the bomb in the night. This is the violence of institutions -- indifference, inaction, and decay. This is the violence that afflicts the poor, that poisons relations between men because their skin has different colors. - Bobby Kennedy (Mindless Menance of Violence)

                        Comment

                        • #72
                          You may (rightfully) call me anything you like when you have checked the data yourself.

                          Actually I may be being needlessly harsh with you.

                          Let me ask you a couple of questions:

                          1. Did you believe the high growth rates that the USSR used to post?
                          2. Do you believe the rates that China is currently posting?
                          19th Century Liberal, 21st Century European

                          Comment

                          • #73
                            "This is bull****. How can I talk with somebody who twists information to suit their own needs?"

                            "You are nothing but a raving lunatic."

                            It's always funny when Fez starts talking to himself.
                            “Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)

                            Comment

                            • #74
                              For there is [another] kind of violence, slower but just as deadly, destructive as the shot or the bomb in the night. This is the violence of institutions -- indifference, inaction, and decay. This is the violence that afflicts the poor, that poisons relations between men because their skin has different colors. - Bobby Kennedy (Mindless Menance of Violence)

                              Comment

                              • #75
                                come on Fez, answer my questions.
                                19th Century Liberal, 21st Century European

                                Comment

                                Previous 1 2 3 4 5 6 7 8 9 14 template Next
                                Working...
                                X