Here’s an interesting fact: who is more “socialist”: Barack Obama’s God Damn America Or the (communist) People’s Republic of China?
The really scary thing is that it’s not even close: Barack Obama is FAR more communist than anyone in China.
Consider that your tax rate in the People’s Republic of China is 25% vs. your top federal tax rate in God Damn America of 39%. And those Chinese don’t pay the state taxes that we also have to pay over here in good ole God Damn America.
If you want to understand why China owns us AND gets to eat our lunch at the same time, realize that the United States has THE highest corporate tax rate on planet earth. AND a president who keeps saying the highest on earth still isn’t high enough.
I’ve watched dozens of Democrats who argue for higher taxes get asked the question, “How much should the rate be?” And not ONE of them has ever answered. The reason being THEY WILL NEVER GRAB ENOUGH OF OTHER PEOPLE’S MONEY OR ENOUGH POWER TO DOMINATE OTHER PEOPLE’S LIVES.
The last time this measure was taken when George W. Bush was still president, China had well under HALF (43%) the economy of America. But under Barack Obama and under Barack Obama’s “God damn America” policies, we have tanked so fast it gives me vertigo to think about it:
China Set to Overtake U.S. as Biggest Economy in PPP Measure
By Bloomberg News
April 30, 2014 4:32 PM EDT 69 Comments
China is poised to overtake the U.S. as the world’s biggest economy earlier than expected, possibly as soon as this year, using calculations that take purchasing power into account.
China’s economy was 87 percent of the size of the U.S. in 2011, based on so-called purchasing power parity, the International Comparison Program said in a statement yesterday in Washington. The program, which involves organizations including the World Bank and United Nations, had put the figure at 43 percent in 2005.
The latest tally adds to the debate on how the world’s top two economic powers are progressing. Projecting growth rates from 2011 onwards suggests China’s size when measured in PPP may surpass the U.S. in 2014, which would be years earlier than many economists had previously estimated, according to Arvind Subramanian of the Peterson Institute for International Economics.
“There’s a symbolic element to this, to China overtaking the U.S., and that seems to be happening,” said Subramanian, a senior fellow at the Washington-based Peterson Institute. The latest data “plays to the idea that China is very big and getting bigger. It’s not to be underestimated.”
In a book published in September 2011, Subramanian estimated China became the world’s largest economy in 2010. While this was too early, the International Monetary Fund’s projections in its World Economic Outlook show China will move to the top in 2019, which is too late, he said today.
The U.S. share of global GDP was 17.1 percent in 2011, while China was 14.9 percent, according to the ICP figures based on purchasing power parity, which seeks to compare how far money goes in each country. PPP calculates gross domestic product using exchange rates that adjust for price differences of the same goods between nations.
Yet China was well behind the U.S. based on another comparison, which looks at GDP in U.S. dollars at market exchange rates. By that approach, the U.S. share of 22.1 percent was more than double that of China’s 10.4 percent, the ICP data show.
JPMorgan Chase & Co. prefers to use market exchange rates for its “hard-nosed business cycle analysis,” said David Hensley, the bank’s director of global economic coordination in New York. That approach “gives a better sense of the resources that a country has command over.”
While JPMorgan keeps an eye on PPP comparisons as a secondary measure, it’s a hypothetical calculation which assumes one price level across all countries, Hensley said.
“That’s not the world we live in,” said Hensley. In addition to problems in measuring PPP, it “inflates the relative size and importance and command over resources that countries like China, India, Brazil or Russia have. That can create mistakes in judgment if you’re not careful.”
Hensley estimates that based on market exchange rates, the U.S. will stay in the lead until about 2024, when China crosses over as the world’s biggest economy, he said.
Changes in methodology contributed to the speed of China’s rise, according to the ICP report. Using market rates, U.S. gross domestic product was $16.2 trillion in 2012, compared with China’s $8.2 trillion. India vaulted into third place, ahead of Japan, the latest ICP figures also show.
This is what we voted for and this is what we deserve.
According to the Bible, America either will not exist or will be so weak that it will not matter one scintilla in the last days.
And while the fascist media keeps distracting us with one bright and shiny object after another, America is NOTHING like what it was just a few years ago as Obama has gutted America giant chunk by giant chunk.
The ONLY thing that makes the United States matter today – now that Obama has dismantled America’s military and pissed away our national security prestige – is the fact that since the end of World War II, the United States has served as the global reserve currency (with all commodities being bought and sold in U.S. dollars).
I have a vision of how that is going to change: now that Obama has gutted the American military and literally made America weaker than at any time since BEFORE our enemies decided to attack us to begin World War II, and now that Obama has so pissed away American credibility with his never mind “red lines” and his feckless response to Russian aggression that eerily parallels Hitler’s aggression in Europe, why does the United States even matter?
The major economies known as the BRICS (Brazil, Russia, India, China and South Africa) have all made it clear that they want to dump the US as the global reserve currency (see also here). We have lost more than enough influence both strategically, militarily, economically and morally under Obama that it is only a matter of time before we don’t have enough people who need us relative to the growing list of countries that hate us. Note that Obama has done EVERYTHING to cut the list of the former countries and ABSOLUTELY NOTHING to reduce the number of the latter. In every region in the world, we are very clearly in worst shape than we were in when we cursed ourselves by electing Obama. We have distanced ourselves from our former friends and emboldened and increased our current enemies.
One day, soon, as a result of our rapid decline under Obama, the world is going to cut its losses and dump the United States as the reserve currency. We are facing a world in which we have too few friends, too many enemies, a growing list of enemies who are gaining power over us, and not enough influence to change a damn thing. Russia and China and India will lead the effort to dump the dollar and we won’t be able to stop it. And we will implode as no society in the history of planet earth has EVER imploded. Because when you have a house of cards built on more than $225 trillion dollars of debt, you are going to fall HARD when you fall.
The worst of the Great Depression will seem like a pleasant stroll along a sunny beach compared to what’s in store for God damn America.
This is a nation that voted to perish. And it is going to get – as God damn America – exactly what it voted for.