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this post was submitted on 11 Aug 2023
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President of the Ticking Time Bomb Republic says that the country that hasn't had a recession in 45 years is "in trouble" and that their 5.2% GDP increase projected by the IMF is "weak growth".
Advanced Economies
Advanced economies innovate and make things like NFTs and self-driving ~~random incendiary devices~~ luxury electric cars!
Old, busted economies like China just produce things like buildings, most manufactured products, scientific research, and agricultural products 🤮
So they basically said "doesn't count if there is jobs growth". As long as you can keep creating 10 precarious gig worker jobs for every 9 full time jobs that are eliminated then the economy is doing great!
Remeber when the US economy collapsed in 2007 and ever since then it's been propped up by speculation, free money, zomvie companies that cannot and will never turn a profit, bailouts, and outright fraud, all while the living conditions of the people continue to decay and live expectancy plummets?
Hmm, it’s almost like they were allowed into a certain economic system? A new trading partner, perhaps?