Rand sinks R11.2833 to the dollar

[BBSA]

Yeah, the fact are there, and they disagree with you.

Actually not, if you look nicely you will see the US is at the top.

 

[Xarog]

Actually not, if you look nicely you will see the US is at the top.

And if you look carefully, you'll see that they're reporting liabilities as assets.

 

[BBSA]

And if you look carefully, you'll see that they're reporting liabilities as assets.

I had another look, and the US is still at the top

 

[Xarog]

I had another look, and the US is still at the top

Tell you what. Loan me all your money, using the methodology of that site, I'll be "richer" than you.

(P.S. when talking about facts, it doesn't look very good when you quote conclusions without being able to understand the processes that went into forming that conclusion.)

 

[BBSA]

Tell you what. Loan me all your money, using the methodology of that site, I'll be "richer" than you.

(P.S. when talking about facts, it doesn't look very good when you quote conclusions without being able to understand the processes that went into forming that conclusion.)

OK, I looked once more, and the US is still at the top

 

[pierrehugo]

Guys please!

Common guys, you sound like complete crackpots... there is the obvious BIAS presented by each of you, yes the source says US is no1.

BUT that is not a projection, the US may be unable to keep up its borrowing forever but in the mean time if the rest of the world continues to look past this they still are the strongest economy...

 

[BBSA]

Common guys, you sound like complete crackpots...

LOL.... you are properly correct

BUT that is not a projection, the US may be unable to keep up its borrowing forever but in the mean time if the rest of the world continues to look past this they still are the strongest economy...

Thank you.

 

[Xarog]

Common guys, you sound like complete crackpots... there is the obvious BIAS presented by each of you, yes the source says US is no1.

Oh ffs. The source is the CIA. No chance of bias there, nosirree.

BUT that is not a projection, the US may be unable to keep up its borrowing forever but in the mean time if the rest of the world continues to look past this they still are the strongest economy...

Wanna take a 3 year wager? I'll bet you that 3 years from, the US will be nowhere near the largest economy. (Note, biggest != strongest, nor does having a large economy imply wealth.)

 

[BBSA]

Oh ffs. The source is the CIA. No chance of bias there, nosirree. .)

Oh ffs. Here is one from wiki:

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

Wanna take a 3 year wager? I'll bet you that 3 years from, the US will be nowhere near the largest economy. (Note, biggest != strongest, nor does having a large economy imply wealth.)

We are actualy talking about today.

 

[Xarog]

Oh ffs. Here is one from wiki:

More quoting random stats without having the faintest clue as to how they were derived.

We are actualy talking about today.

Companies are insolvent long before they are actually declared insolvent. The declaration requires an investigation which takes time. The US has been in a "hidden" recession for well over a year already. The asset prices for most of the stock markets which is largely used to measure GDP is still grossly over-inflated and both the banks and the governments are keeping quiet as mice (on purpose) about the true nature of just how bad all those derivatives are. Bottom line is, we'll only know what today was like tomorrow, and in 3 years time it will be obvious to everyone, even people like yourself who are entirely ignorant of even the most basic concepts of economic theory.

 

[BBSA]

More quoting random stats without having the faintest clue as to how they were derived.




Companies are insolvent long before they are actually declared insolvent. The declaration requires an investigation which takes time. The US has been in a "hidden" recession for well over a year already. The asset prices for most of the stock markets which is largely used to measure GDP is still grossly over-inflated and both the banks and the governments are keeping quiet as mice (on purpose) about the true nature of just how bad all those derivatives are. Bottom line is, we'll only know what today was like tomorrow, and in 3 years time it will be obvious to everyone, even people like yourself who are entirely ignorant of even the most basic concepts of economic theory.

Nice try, but no cigar. The US is still at the top no matter which list you use

 

[Xarog]

Nice try, but no cigar. The US is still at the top no matter which list you use

Because all lists count debt (liabilities) as wealth (assets). Enron accounting 101.

 

[BBSA]

Because all lists count debt (liabilities) as wealth (assets).

OK, why do you not keep on talking BS for another day, and we will see if the FACTS has changed tomorrow

 

[Xarog]

OK, why do you not keep on talking BS for another day, and we will see if the FACTS has changed tomorrow

The "FACTS" is that those numbers were derived through creative accounting, aka, people were lying through their teeth. It's about as much "fact" as the ANC being white.

 

[BBSA]

The "FACTS" is that those numbers were derived through creative accounting, aka, people were lying through their teeth. It's about as much "fact" as the ANC being white.

Ok, we will have a look tomorrow.

 

[rwenzori]

Oh ffs. Here is one from wiki:

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

Excuse me butting in, but that Wikipedia link is showing it was deleted some years ago, and Googling for a list shows:

List of countries by GDP (nominal) - Wikipedia, the free encyclopedia
This site may harm your computer.

WTF???

 

[BBSA]

Excuse me butting in, but that Wikipedia link is showing it was deleted some years ago, and Googling for a list shows:

List of countries by GDP (nominal) - Wikipedia, the free encyclopedia
This site may harm your computer.

WTF???

Try this:

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

 

[DOOMIE61]

Im the only one smiling, leave for SA next week.. going to be soooo cheap

 

[Generix]

More quoting *random stats* without having the faintest clue as to how they were derived.




Companies are insolvent long before they are actually declared insolvent. The declaration requires an investigation which takes time. The US has been in a "hidden" recession for well over a year already. The asset prices for most of the stock markets which is largely used to measure GDP is still grossly over-inflated and both the banks and the governments are keeping quiet as mice (on purpose) about the true nature of just how bad all those derivatives are. Bottom line is, we'll only know what today was like tomorrow, and in 3 years time it will be obvious to everyone, even people like yourself who are entirely ignorant of even the most basic concepts of economic theory.

'Lies, damn lies, and statistics!' Off-shoring is not taken into account here. The production of US companies that move their manufacturing to other countries, notably China because of the availability of cheap labour, is officially regarded as part of US GDP. In other words, stuff made in China by Chinese workers and imported by America and others magically becomes part of American gross 'domestic' product. It does put a legitimate question mark over any 'official' stats.

The other factor that should be kept in mind is the magic of compound interest: The interest on US debt, never mind new debt to keep the economic engine running, is mounting at an incredible rate. That, of course, is not much of a problem in a system where you count debt as an asset to proudly inflate the size of your bubble economy.

Another bit of financial trivia may put the state of the broader US economy in perspective: California, often touted as the world's 8th 'largest' economy, wants to pay state tax refunds with IOU's because it does not have enough money to pay all its bills and has maxed out its credit lines. In other words, it is bankrupt and no-one wants to lend it more money. Solution: create fake money. The real irony is that it is trying to negotiate with banks to accept the IOU's as deposits. That would put more money that does not exist into circulation so that consumers can buy real stuff with it, which will create more tax due to the state. Now that's creative! And insane.

 

[BBSA]

'Lies, damn lies, and statistics!' Off-shoring is not taken into account here. The production of US companies that move their manufacturing to other countries, notably China because of the availability of cheap labour, is officially regarded as part of US GDP. In other words, stuff made in China by Chinese workers and imported by America and others magically becomes part of American gross 'domestic' product. It does put a legitimate question mark over any 'official' stats.

This is not correct. Products manufactured in China by US companies does not form part of the US GDP.

I would love to see your sources.