US no longer the worlds biggest economy

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Superfreak said:
Compared to the entire EU.... which has about 450,000,000 people to our 300,000,000.

They are 50% larger in population and are ahead of us by a razor thin margin... (depends on whether it takes $1.55 to buy the Euro or $1.56 as to who is ahead).

So bottom line... yea EU!!!! your 27 countries with 50% more people just equaled the US.
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I really couldn't give a monkey's about position. However, i just thought i'd point out the number 1 position is held by the Eurozone countries (ie those members of the EU who have adopted the Euro) not the EU as a whole.

There aren't 27 Eurozone countries and therefore their populations approximate to around 320 million.
 
A good article on how stupid GDP is.

http://www.mba.co.za/article.aspx?rootid=6&subdirectoryid=980
GDP cannot measure economic well-being and wealth

Money is the primary measure of well-being and wealth in conventional economies. “With GDP accounting based on monetary measures it means that “money” is regarded as the yardstick for social well-being and economic welfare, says chief investment officer at Cannon Asset Managers and GIBS senior lecturer Prof. Adrian Saville.

According to the United Nations Human Development Index (HDI), GDP growth does not necessarily increase the sense of well-being. Therefore, we cannot assume that just because we are spending more money life conditions are improving.

Originally designed to guide production planning during World War II, GDP was never intended to be a measure of progress or well-being. Even so, politicians, policy makers, the financial community and journalists often use GDP for this purpose.


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GDP is the primary indicator or measure of economic production within a country (growth and development).

GDP is the total value of all of the goods and services made and purchased within one year. In other words, it is the sum of all the money spent by individuals and households, government and businesses, annually.

As a benchmark, growth in GDP of 2% per annum is considered slow, while a 4% annual growth rate is considered good.
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Against this backdrop, economists have criticised the use of GDP as a measure of economic progress and social welfare, for many decades, arguing that “A nation’s welfare can hardly be inferred from a measure of national income.”

Social health cannot be measured using economic indicators

Social indicators, like raising families, caring for the elderly, community work and art and culture, contribute to a sense of well-being. People who give socially often offer their services for free. But governments often resist using social indicators as a measure of well-being and wealth, because many fall outside the realm of direct influence and can therefore not be controlled, measured or counted.


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GDP does not measure:
health
infant mortality
morbidity
suicide rates
crime
poverty
environmental health, or decay and destruction of the natural environment
infrastructure, such as highways and bridges
family breakdown
loss of leisure time
cost of commuting to work
lack of civility in communities
lack of concern for future generations
income gaps (for instance between women and men or “poor” and “wealthy”)
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uscitizen said:
LOL,
Did I call it or what?
Yep it is not a country but for currency/economic purposes it might as well be.
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Some posters didn't even bother to read the first two paragraphs of the article.

It's only measuring the EU on the basis of countries that use the Euro. That's only 15 countries, not 27. And as far as I know, the UK doesn't even use the euro.
 
assclownsecondrateprogrammer. Your stupider than I thought. GDP has zero to do with social wellbeing. you tool it's 100% economic not social you mental midget.
 
charver said:
I really couldn't give a monkey's about position. However, i just thought i'd point out the number 1 position is held by the Eurozone countries (ie those members of the EU who have adopted the Euro) not the EU as a whole.

There aren't 27 Eurozone countries and therefore their populations approximate to around 320 million.
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Thanks... was not aware of that.... but you still have 20 million more people.... so nana nana na na.... :tongout:
 
Topspin said:
assclownsecondrateprogrammer. Your stupider than I thought. GDP has zero to do with social wellbeing. you tool it's 100% economic not social you mental midget.
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BUt people are interested in overall wellbeing. SO you assclowns who believe gdp alone should dictate economic policy ignore the impact of economic policy on the "non economic" aspects of life. Get a life, el jerko.
 
charver said:
I really couldn't give a monkey's about position. However, i just thought i'd point out the number 1 position is held by the Eurozone countries (ie those members of the EU who have adopted the Euro) not the EU as a whole.

There aren't 27 Eurozone countries and therefore their populations approximate to around 320 million.
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Oh damn, I just mentioned this without seeing you made the same point.

Yes, some posters professed themselves armchair experts on the topic, without even reading one word of the article. The EU as defined in the article doesn't even include all 27 countries. For purposes of the article, it evidently doesn't include some major countries, like the UK. I don't even think some of the prosperous scandinavian countries use the Euro, though I can't swear to it.
 
Superfreak said:
Thanks... was not aware of that.... but you still have 20 million more people.... so nana nana na na.... :tongout:
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I'll thank you not to include me in that shower of Euro weirdos.

I use Sterling, thank you very much, not that tin-pot Euro money. :)
 
charver said:
I'll thank you not to include me in that shower of Euro weirdos.

I use Sterling, thank you very much, not that tin-pot Euro money. :)
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My apologies.... no offense was intended .... please forgive the error, though in fairness, your avatar does remind me of a French Footballer.
 
the EU will plummet again, a couple years out of a dozen that the EU is up now most American were blind to the majority of the time when the dollar was dominating the anti economic europeans.
 
Superfreak said:
My apologies.... no offense was intended .... please forgive the error, though in fairness, your avatar does remind me of a French Footballer.
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A French footballer, eh?

It's supposed to be a South Park style football hooligan kitted out in Stone Island and Aquascutum designer gear.
 
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