News For The Economists Out There

http://english.aljazeera.net/NR/exeres/C1D3273C-B5CE-4225-ABE5-2BC93FBA36A1.htm

Sometimes I wonder why we don't see this sort of news at 6:00 and 11:00 with a little bit of commentary on how it may effect US.

"China will leapfrog Italy, France, and Britain to become the world's fourth-largest economy if, as expected, it revises up its 2004 gross domestic product by nearly $300 billion, analysts say."

Snip:

Stephen Green, an economist with Standard Chartered, said in a research note: "As if China's economy was not growing fast enough, thanks to a statistical revision, growth in 2005 looks like being about 30%."

Snip:

""The recent national economic survey has apparently found
another 2.4 trillion yuan ($296 billion) worth of output," Green said. The figure is equivalent to 17.5% of last year's GDP."

Our policy is world hegemony and the neocon plan may be one attempt to circumvent China's rising economic power.

even when you have as many people as does China, eventually they will get tired of being used as machines of economic slavery.
China's boom economy is an illusion. All balloons go bust sooner or later.

Those are stats most people can't relate to. I listened to Bob Brinker on KGO yestarday PM, and he was talking about the actual size of the total National Debt. He said it's a BIG problem, but nobody talks about it. It's now close to $9 trillion!!!!

He also had an economist on who used to work with the new Fed Chairman, and they wrote a book together. He was very good at explaining all the foolish myths the Pubs try to promote, like reducing taxes always increases income into the treasury. That's been proven WRONG! It's true, if you want to stimulate the economy, you reduce taxes so people spend more, but the reductions should be targeted to the middle and lower income people who spen the additional $$ they get, not the wealthy who just invest it. Investment can be good, but it won't encourage businesses to invest in expansion because most already have more capacity than they need!.