On 4/7/2025 5:05 AM, John Clark wrote:
*Trump claims that the US is in a steep decline because other nations
have been taking advantage of us for years, so a radical change in
economic policy is necessary, hence his astronomically high tariffs.
But is that really true? On Fareed Zakaria's show last Sunday he
mentioned some interesting statistics: *
*In 2008 the GDP of the Eurozone was about the same as that of the
USA, but by 2023 it was almost twice as large.*
I think "it" refers to the US GDP, not the Eurozone's.
*In 1990 US average wages were about 20% larger than a worker in
another advanced industrial world country, but they are now about 40%
higher. *
*In 1995 the average Japanese person was 54% richer than an average
person in the US in terms of GDP per capita, but today the average
American is 150% richer than the average Japanese.
*
How about the median? Averages can be highly skewed due to a few
billionaires.
*A resident of the poorest American State, Mississippi, has a higher
per capita GDP than the average resident of Britain or France or Japan. *
*Today the US economy is the envy of the world, but Donald Trump will
soon put an end to that!
*
Already has. Like many international relations, trade depends largely on
trust...and /*nobody*/ can trust The Donald.
Brent*
*
*
*
*Fareed’s Take: Trump’s tariffs and what they show
<https://www.youtube.com/watch?v=AfscyIbtz2Y>
*
*John K Clark See what's on my new list at Extropolis
<https://groups.google.com/g/extropolis>*
dtq
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