USA is now number 2

[Razick]

USA is number 2 since 3-4 years because the two new superpower actually are Russia and China. Russia is the number 1 owner of GOLD in our planet, and same thing for China.

Have you been following what's going on in Russia? I don't think that's accurate. It's not as if gold is the only thing of value on earth...

[exoton]

USA is number 2 since 3-4 years because the two new superpower actually are Russia and China. Russia is the number 1 owner of GOLD in our planet, and same thing for China.

I am pretty sure that both Russia and China are not the number one holder of Gold in the world.

Not only that but the value of an economy is based on the goods and services that a country can produce, not how much it has in assets

[Callahan]

Russia-China-USA are 80% of the planet

[Kearney52]

Russia-China-USA are 80% of the planet

i think usa is till number1

[STT]

By production USA is not even number two, its really subject to upset if it was not able to import as now.  USA is #1 in food production potential ?  factors like that make me think we dont see a total melt down whatever does happen
   Russia has problems with declining population, its not especially productive even in oil and gas it lacks innovation that USA could boast of.  Yes by pure numbers Russia has alot but so does Canada, it doesnt equate to productive capacity if the cost becomes too high and for oil exploration and extraction they use foreign workers and technology to make best use.  They are exporters of the raw product but as we see now that can be a weakness because its the middle east who have the very easiest lowest costs.   Russia needs the world, I dont think they are near to number two and by people its not the force it once was.

China has people but also in decline, again I think they do need world trade to make the best.  In gold they are top in production but sorely lacking in actual reserves still, they refuse to disclose an accurate measure.  Mostly I think this allows them to buy at a lower price, generally China is interested in acquiring not just the product but various commidity resources across the globe.   One I used to own, produces at cost 1600 an ounce but thats still cheap enough for them to buy apparently; of course at a distressed price and they can idle till true demand is shown is my guess

Ironically USA has growing population and various positives.  It also has the highest gold reserves and some production but its debt is so overwhelming (and ongoing tax burden, deficit, red tape, etc) all the positives are overshadowed till its dealt with.  

[picolo]

By production USA is not even number two, its really subject to upset if it was not able to import as now.  USA is #1 in food production potential ?  factors like that make me think we dont see a total melt down whatever does happen
   Russia has problems with declining population, its not especially productive even in oil and gas it lacks innovation that USA could boast of.  Yes by pure numbers Russia has alot but so does Canada, it doesnt equate to productive capacity if the cost becomes too high and for oil exploration and extraction they use foreign workers and technology to make best use.  They are exporters of the raw product but as we see now that can be a weakness because its the middle east who have the very easiest lowest costs.   Russia needs the world, I dont think they are near to number two and by people its not the force it once was.

China has people but also in decline, again I think they do need world trade to make the best.  In gold they are top in production but sorely lacking in actual reserves still, they refuse to disclose an accurate measure.  Mostly I think this allows them to buy at a lower price, generally China is interested in acquiring not just the product but various commidity resources across the globe.   One I used to own, produces at cost 1600 an ounce but thats still cheap enough for them to buy apparently; of course at a distressed price and they can idle till true demand is shown is my guess

Ironically USA has growing population and various positives.  It also has the highest gold reserves and some production but its debt is so overwhelming (and ongoing tax burden, deficit, red tape, etc) all the positives are overshadowed till its dealt with.  

USA is #1 for its army and currency.

USA is number 2 since 3-4 years because the two new superpower actually are Russia and China. Russia is the number 1 owner of GOLD in our planet, and same thing for China.

Russia and Gold are the ones adding the more Gold to their reserves

[exoton]

By production USA is not even number two, its really subject to upset if it was not able to import as now.  USA is #1 in food production potential ?  factors like that make me think we dont see a total melt down whatever does happen
   Russia has problems with declining population, its not especially productive even in oil and gas it lacks innovation that USA could boast of.  Yes by pure numbers Russia has alot but so does Canada, it doesnt equate to productive capacity if the cost becomes too high and for oil exploration and extraction they use foreign workers and technology to make best use.  They are exporters of the raw product but as we see now that can be a weakness because its the middle east who have the very easiest lowest costs.   Russia needs the world, I dont think they are near to number two and by people its not the force it once was.

China has people but also in decline, again I think they do need world trade to make the best.  In gold they are top in production but sorely lacking in actual reserves still, they refuse to disclose an accurate measure.  Mostly I think this allows them to buy at a lower price, generally China is interested in acquiring not just the product but various commidity resources across the globe.   One I used to own, produces at cost 1600 an ounce but thats still cheap enough for them to buy apparently; of course at a distressed price and they can idle till true demand is shown is my guess

Ironically USA has growing population and various positives.  It also has the highest gold reserves and some production but its debt is so overwhelming (and ongoing tax burden, deficit, red tape, etc) all the positives are overshadowed till its dealt with.  

The US is primarily a service based economy so most of what it produces is services for others to consume. This does include the development of technology and things like IP which can easily be exported to other countries when appropriate. It has been a long time since the US has produced a large amount of goods (like the kinds of things that China tends to produce)

[picolo]

By production USA is not even number two, its really subject to upset if it was not able to import as now.  USA is #1 in food production potential ?  factors like that make me think we dont see a total melt down whatever does happen
   Russia has problems with declining population, its not especially productive even in oil and gas it lacks innovation that USA could boast of.  Yes by pure numbers Russia has alot but so does Canada, it doesnt equate to productive capacity if the cost becomes too high and for oil exploration and extraction they use foreign workers and technology to make best use.  They are exporters of the raw product but as we see now that can be a weakness because its the middle east who have the very easiest lowest costs.   Russia needs the world, I dont think they are near to number two and by people its not the force it once was.

China has people but also in decline, again I think they do need world trade to make the best.  In gold they are top in production but sorely lacking in actual reserves still, they refuse to disclose an accurate measure.  Mostly I think this allows them to buy at a lower price, generally China is interested in acquiring not just the product but various commidity resources across the globe.   One I used to own, produces at cost 1600 an ounce but thats still cheap enough for them to buy apparently; of course at a distressed price and they can idle till true demand is shown is my guess

Ironically USA has growing population and various positives.  It also has the highest gold reserves and some production but its debt is so overwhelming (and ongoing tax burden, deficit, red tape, etc) all the positives are overshadowed till its dealt with.  

The US is primarily a service based economy so most of what it produces is services for others to consume. This does include the development of technology and things like IP which can easily be exported to other countries when appropriate. It has been a long time since the US has produced a large amount of goods (like the kinds of things that China tends to produce)

The USA use to be an industrial nation, they are still very good in a lot of sectors but nowhere near the best in industrial production.

[Sumerian]

USA is number 2, but the difference between the poor and the rich is much bigger in china.

[picolo]

USA is number 2, but the difference between the poor and the rich is much bigger in china.

The inequality is growing in the USA as the Government is growing bigger

[exoton]

By production USA is not even number two, its really subject to upset if it was not able to import as now.  USA is #1 in food production potential ?  factors like that make me think we dont see a total melt down whatever does happen
   Russia has problems with declining population, its not especially productive even in oil and gas it lacks innovation that USA could boast of.  Yes by pure numbers Russia has alot but so does Canada, it doesnt equate to productive capacity if the cost becomes too high and for oil exploration and extraction they use foreign workers and technology to make best use.  They are exporters of the raw product but as we see now that can be a weakness because its the middle east who have the very easiest lowest costs.   Russia needs the world, I dont think they are near to number two and by people its not the force it once was.

China has people but also in decline, again I think they do need world trade to make the best.  In gold they are top in production but sorely lacking in actual reserves still, they refuse to disclose an accurate measure.  Mostly I think this allows them to buy at a lower price, generally China is interested in acquiring not just the product but various commidity resources across the globe.   One I used to own, produces at cost 1600 an ounce but thats still cheap enough for them to buy apparently; of course at a distressed price and they can idle till true demand is shown is my guess

Ironically USA has growing population and various positives.  It also has the highest gold reserves and some production but its debt is so overwhelming (and ongoing tax burden, deficit, red tape, etc) all the positives are overshadowed till its dealt with.  

The US is primarily a service based economy so most of what it produces is services for others to consume. This does include the development of technology and things like IP which can easily be exported to other countries when appropriate. It has been a long time since the US has produced a large amount of goods (like the kinds of things that China tends to produce)

The USA use to be an industrial nation, they are still very good in a lot of sectors but nowhere near the best in industrial production.

True, but this does not matter. The world economy is no longer as dependent on industrials anymore, with the exception of rebuilding from wars, however US industrial companies are able to handle this volume of work

[malaimult]

US is number 2 by GDP and GDP alone. By all other economic measures we are far better off than China. China has a much larger population with living standards much lower than here in the US.

PPP, not Nominal GDP that most economists use for measuring economic size.

In other words, your statement is blatantly false.

Actually, I'm fairly certain that living standards are lower even based on PPP adjustments, but I could be wrong on that one. I don't think if you look at how the average Chinese person lives it will compare to how the average American lives. That can and should change over time if China relaxes economic and social controls in favor of personal and economic freedom.

No, this is very much correct. If you have two countries with the same amount of economic output, when you measure each country's economy based on PPP the country with the lower standard of living is going to appear larger.

This is obviously not an accurate way to measure the size on an economy. GDP is much more accurate and respectable economists will use GPD over PPP

[Agestorzrxx]

For the first time since 1870s.

All hail China!

http://www.forbes.com/sites/timworstall/2014/12/07/chinas-now-the-world-number-one-economy-and-it-doesnt-matter-a-darn/

LOL, as a chinese, I am still poor than most of american.
it's nonsense, if it can't make their own people benefit.

[picolo]

For the first time since 1870s.

All hail China!

http://www.forbes.com/sites/timworstall/2014/12/07/chinas-now-the-world-number-one-economy-and-it-doesnt-matter-a-darn/

LOL, as a chinese, I am still poor than most of american.
it's nonsense, if it can't make their own people benefit.

The number of chinese that are richer than the average American is going up by about 10%/year so you will get there if you keep working hard.

[Sumerian]

For the first time since 1870s.

All hail China!

http://www.forbes.com/sites/timworstall/2014/12/07/chinas-now-the-world-number-one-economy-and-it-doesnt-matter-a-darn/

LOL, as a chinese, I am still poor than most of american.
it's nonsense, if it can't make their own people benefit.

The number of chinese that are richer than the average American is going up by about 10%/year so you will get there if you keep working hard.

It'd "only" take about 110 million? Americans for the chinese to be richer. That's like 1/10th of China's population

[NotLambchop]

...
The number of chinese that are richer than the average American is going up by about 10%/year so you will get there if you keep working hard.

What country do you live in & [roughly] how old are you?
Telling people they'll get rich if they just "keep working hard" is clueless, sadistic, or both.

[picolo]

...
The number of chinese that are richer than the average American is going up by about 10%/year so you will get there if you keep working hard.

What country do you live in & [roughly] how old are you?
Telling people they'll get rich if they just "keep working hard" is clueless, sadistic, or both.

China is changing, people are getting richer, China will be the new USA in terms of being the first world nation but they will act very differently.

[NotLambchop]

...
The number of chinese that are richer than the average American is going up by about 10%/year so you will get there if you keep working hard.

What country do you live in & [roughly] how old are you?
Telling people they'll get rich if they just "keep working hard" is clueless, sadistic, or both.

China is changing, people are getting richer, China will be the new USA in terms of being the first world nation but they will act very differently.

Bro, do you even read?  Look for the red text.
But keep cheering for China, they're certainly doing the right thing by protecting their economy from Bitcoin.  Communism IS the future!

[DogecoinMachine]

As far as I know China own Usa for some time...debt over debt over debt...

[Agestorzrxx]

...
The number of chinese that are richer than the average American is going up by about 10%/year so you will get there if you keep working hard.

What country do you live in & [roughly] how old are you?
Telling people they'll get rich if they just "keep working hard" is clueless, sadistic, or both.

China is changing, people are getting richer, China will be the new USA in terms of being the first world nation but they will act very differently.

LOL, only a few people are getting richer, most of people can't even afford the housing.
China will never be rich or strong as USA because it political.