Goldman Sachs predicts U.S. economy will grow 8% this year

[Mk-313]

yup, tellin' ya man...that's where its at...media magic. perception is reality.

lol. ill consider it. just gotta look up any university offering and file rankings which is the best at media magic

 

[GumNaam]

lol. ill consider it. just gotta look up any university offering and file rankings which is the best at media magic

oh...I'm afraid you don't qualify. only those who have sold their souls to the devil can qualify...

 

[Yongpeng Sun-Tastaufen]

what can 2200 yuan get you in China? please explain? in the u.s. 2200 usd barely pays your rent unless you're living out in the boonies in the middle of no where.

A burger costs you 3 yuan in China. A burger costs you 3 USD in the US. Basically, 1 yuan buys as much in China as 1 USD buys in the US.

 

[GumNaam]

A burger costs you 3 yuan in China. A burger costs you 3 USD in the US. Basically, 1 yuan buys as much in China as 1 USD buys in the US.

what's the average rent in yuan for say, a 2 bedroom/2bathroom apartment? here, in most metropolitan cities and surrounding areas, your lookin' at anywhere from 2000 to 2500 usd.

 

[Yongpeng Sun-Tastaufen]

what's the average rent in yuan for say, a 2 bedroom/2bathroom apartment? here, in most metropolitan cities and surrounding areas, your lookin' at anywhere from 2000 to 2500 usd.

Probably about the same. 2000 to 2500 yuan monthly.

 

[Leishangthem]

Due to American innovation and the healthy demographics of the country, if the US can sustain itself through reinvestment in making itself more competitive, it will be able to defeat China in a generation or so; 2050-2060. Demographics have decimated Japan’s competitiveness and it looks to be what could do in China by 2050-2060. America can outcompete China, as it outcompeted (through all its ways) Japan and the Soviets in the 20th century, if it invests in making middle class life sustainable.

That's somewhat based on popular yet outdated conception, American innovation doesn't really have an edge against China,it can barely keep itself ahead of much smaller Japan and Korea based on actual stats.
And the gap with US will only widen. US's technological lead(in many core tech) was only based on the 60 years head start it had ,and during that time US procured various core tech using their military and USD influence while decimating any competitors that threaten their primacy with state action.Their lead was never due to seer " innovation & research" alone;not their strongest point.

Like it or not ,the immigrants that thrive in US is because of the extreme geopolitical leverage that US elite class have due to dollar and US hegemony,due that, the US business institutions operate with great impunity to be successful .
With dwindling US influence or similar rise of Chinese geopolitical influence ,the US will not have that kind of advantage left like before .

Root cause of Japanese economic decline isn't their population constraints,it actually stems back from the plaza accord when the US manipulated the USD in relative to the yen.Japan never recovered from the economic crisis of the asset price bubble collapse in the 90s. It's still reeling from it.

Japan is a much smaller nation than US,it's an island nation that relies on the US for military support and export for growth and stability,hence it was bullied by the US into stagnation before it could challenge US tech and economic supremacy,in 70-80 Japan was what china is today and much more, at least in market share of US industries.

China has ten times the population of japan, it doesn't heavily depend on US export for growth,it has a strong military to protect its interest . Much of the chinese human resources are still untapped.
Even with population decline china will still have a very large population,and more importantly,each chinese is much more productive than American (white/latin/black/browns etc). They don't need an overwhelming population advantage to compete and outflank US ,japan almost took over with a much smaller population,china has more than enough to meet the challenge.
East asian human resource is much more valuable ,the US can't compete without resorting to another plaza accord to curb competition using their dollar reign .The US badly depends on Chinese brain drain to maintain its innovation and research.

US advantage over china entirely depends on USD being global reserve currency nothing else.

what's the average rent in yuan for say, a 2 bedroom/2bathroom apartment? here, in most metropolitan cities and surrounding areas, your lookin' at anywhere from 2000 to 2500 usd.

From my experience, China is a bit more expensive than India in suburb ,but the quality of goods you can afford with the yuan in china is insane,the shit you get for 10 yuan s in china are sold else where 10 USD and higher. China is unique,in that way,lower exchange rate doesn't equate to a lower quality of goods and services in china like in India.The flaw I can think of is ,the medical fees are crazy expensive without insurance. Maybe the gov took measures for that by now.May be that's why chinese are so into traditional meds.

 

[GHALIB]

Economists at Goldman Sachs raised their GDP growth expectations for the U.S. economy to 8% for 2021 in a note to clients on Sunday night.

Why it matters: If Goldman's forecast is correct, it would mark the largest economic expansion for the U.S. in generations.

• Not only would 8% annual growth denote a stupendous turnaround from the coronavirus pandemic, it would significantly outpace the firm's growth expectations for the U.S. from as recently as late 2020.

What they're saying: "We have raised our GDP forecast to reflect the latest fiscal policy news and now expect 8% growth in 2021 (Q4/Q4) and an unemployment rate of 4% at end-2021 — the lowest among consensus forecasts—that falls to 3.5% in 2022 and 3.2% in 2023," Goldman said in the note.

• "But we expect inflation dynamics to mirror those last cycle, and therefore expect this forecast to translate to only 2.1% core PCE inflation in 2023."

Between the lines: Goldman has been exceptionally bullish on the prospects for U.S. growth all year, far outpacing most other Wall Street banks' expectations.

• The average growth expectation among Wall Street analysts is 4.7%, according to FactSet, and was 3.9% as recently as November.
• Further, economic growth of 8% with inflation reaching just 2.1% would be almost unprecedented.

By the numbers: A growth of 8% this year would put U.S. GDP at around $22.6 trillion, marking a full recovery after the economy shrank 4.1% in 2020.

• U.S. GDP hasn't grown 8% in a year since 1951, when it totaled $356 billion.

Of note: Goldman's metric tracks fourth quarter over fourth quarter growth, rather than year over year.

https://www.axios.com/goldman-sachs...021-eb7e1d84-b6fa-483a-9e19-37a7faddadc0.html

very nice .

 

[FuturePAF]

That's somewhat based on popular yet outdated conception, American innovation doesn't really have an edge against China,it can barely keep itself ahead of much smaller Japan and Korea based on actual stats.
And the gap with US will only widen. US's technological lead(in many core tech) was only based on the 60 years head start it had ,and during that time US procured various core tech using their military and USD influence while decimating any competitors that threaten their primacy with state action.Their lead was never due to seer " innovation & research" alone;not their strongest point.

Like it or not ,the immigrants that thrive in US is because of the extreme geopolitical leverage that US elite class have due to dollar and US hegemony,due that, the US business institutions operate with great impunity to be successful .
With dwindling US influence or similar rise of Chinese geopolitical influence ,the US will not have that kind of advantage left like before .

Root cause of Japanese economic decline isn't their population constraints,it actually stems back from the plaza accord when the US manipulated the USD in relative to the yen.Japan never recovered from the economic crisis of the asset price bubble collapse in the 90s. It's still reeling from it.

Japan is a much smaller nation than US,it's an island nation that relies on the US for military support and export for growth and stability,hence it was bullied by the US into stagnation before it could challenge US tech and economic supremacy,in 70-80 Japan was what china is today and much more, at least in market share of US industries.

China has ten times the population of japan, it doesn't heavily depend on US export for growth,it has a strong military to protect its interest . Much of the chinese human resources are still untapped.
Even with population decline china will still have a very large population,and more importantly,each chinese is much more productive than American (white/latin/black/browns etc). They don't need an overwhelming population advantage to compete and outflank US ,japan almost took over with a much smaller population,china has more than enough to meet the challenge.
East asian human resource is much more valuable than the rest ,the US can't compete without resorting to another plaza accord to curb competition using their dollar reign .The US badly depends on Chinese brain drain to maintain its innovation and research.

US advantage over china entirely depends on USD being global reserve currency nothing else.


From my experience, China is a bit more expensive than India in suburb ,but the quality of goods you can afford with the yuan in china is insane,the shit you get for 10 yuan s in china are sold else where 10 USD and higher. China is unique,in that way,lower exchange rate doesn't equate to a lower quality of goods and services in china like in India.The flaw I can think of is ,the medical fees are crazy expensive without insurance. Maybe the gov took measures for that by now.May be that's why chinese are so into traditional meds.

Good explanation, probably why Ray Dalio seems bullish on China, and how it’s moving up the value added chain. Looks like it’s going to be a more interesting competition between the two, then the US and the Soviets.

btw, what is the Chinese understanding about why the soviets fell?

 

[shanlung]

Average American is getting poorer. I have read horror stories from middle class and working class Americans that are now basically in poverty. The wealthy are getting richer through massive money printing. America will be like India soon with mass poverty and extreme wealthy. No middle class.

What a contrast!


More and more Americans , together with Muricans getting grind into poverty deeper and deeper and not knowing if they can buy their next meal for themselves and their families and pay the rent for the roofs over their heads.



While in China, all those in poverty have been lifted out of poverty

And Murica want to spend more and more $$$$$ on their weapons and their self perceived policeman of the world and want to fight China



Besterest for Murica will be to go to Tiananmeng square on bended hands and knees and crawl around 3 times and hold out begging bowls for $$$$ to fund their carriers and super duper jets hypersonic missiles Secret Forces etc etc etc and soup kitchens

 

[FairAndUnbiased]

How many of the over immigrant population do they make up. Also, many of the younger Vietnamese and Cubans vote Democrat. I can assume disenchanted people say, and that they will side with whomever opposes their opponents. This is why the democrats try to get new voters; to offset those they lose to the republicans.

millions. I've seen it myself, that Felon Goons spread racist self hating memes on WeChat without being banned and has influenced a significant percentage of Chinese Americans to be pro Trump bots. Their tentacles of hate even spread to Hong Kong where Trump tweets being quoted (!) as if it was a legitimate political document.

the vast majority of immigrants are Hispanic from Mexico and Central America. Asians, non-Mexican/Central American Hispanics, Middle Easterners, Europeans, etc. are a small <10% of the population compared to US born whites, blacks and Mexicans. Of those, most are self hating pieces of shit who drank the koolaid.

 

[FairAndUnbiased]

what's the average rent in yuan for say, a 2 bedroom/2bathroom apartment? here, in most metropolitan cities and surrounding areas, your lookin' at anywhere from 2000 to 2500 usd.

Beijing ~3500 yuan/month

Chengdu ~900 yuan/month

Shenzhen ~3800 yuan/month

Suzhou ~1500 yuan/month

Wuxi ~ 2000 yuan/month

Wuhan ~900 yuan/month

Basically, as long as you aren't in a superhot tier 1 global city, even rich cities like Suzhou and Wuxi are affordable.

Average wages: Private sector: Beijing 85k, Shanghai 64k, Guangdong 62k, Jiangsu 58k, Fujian 56k. This is applicable to most people; the higher numbers (ie 160k for Beijing) is for anyone who is not a private sector employee.

 

[Yongpeng Sun-Tastaufen]

Beijing ~3500 yuan/month

Chengdu ~900 yuan/month

Shenzhen ~3800 yuan/month

Suzhou ~1500 yuan/month

Wuxi ~ 2000 yuan/month

Wuhan ~900 yuan/month

Basically, as long as you aren't in a superhot tier 1 global city, even rich cities like Suzhou and Wuxi are affordable.

Average wages: Private sector: Beijing 85k, Shanghai 64k, Guangdong 62k, Jiangsu 58k, Fujian 56k. This is applicable to most people; the higher numbers (ie 160k for Beijing) is for anyone who is not a private sector employee.

And this is why it's stupid to think of Chinese minimum wage is 140 USD. Fact, Chinese don't use USD in China. So the point is moot.

 

[FuturePAF]

Estimates by The Federal Reserve says we in the US will only grow by 6.5% this year. News from today March 18, 2021.

This is why the infrastructure bill is needed so badly.

 

[Yongpeng Sun-Tastaufen]

8% growth is really slow. Anything below 80% growth is underachievement considering they just printed 1.9 trillion USD stimulus money.

 

[Nasr]

Economists at Goldman Sachs raised their GDP growth expectations for the U.S. economy to 8% for 2021 in a note to clients on Sunday night.

Why it matters: If Goldman's forecast is correct, it would mark the largest economic expansion for the U.S. in generations.

• Not only would 8% annual growth denote a stupendous turnaround from the coronavirus pandemic, it would significantly outpace the firm's growth expectations for the U.S. from as recently as late 2020.

What they're saying: "We have raised our GDP forecast to reflect the latest fiscal policy news and now expect 8% growth in 2021 (Q4/Q4) and an unemployment rate of 4% at end-2021 — the lowest among consensus forecasts—that falls to 3.5% in 2022 and 3.2% in 2023," Goldman said in the note.

• "But we expect inflation dynamics to mirror those last cycle, and therefore expect this forecast to translate to only 2.1% core PCE inflation in 2023."

Between the lines: Goldman has been exceptionally bullish on the prospects for U.S. growth all year, far outpacing most other Wall Street banks' expectations.

• The average growth expectation among Wall Street analysts is 4.7%, according to FactSet, and was 3.9% as recently as November.
• Further, economic growth of 8% with inflation reaching just 2.1% would be almost unprecedented.

By the numbers: A growth of 8% this year would put U.S. GDP at around $22.6 trillion, marking a full recovery after the economy shrank 4.1% in 2020.

• U.S. GDP hasn't grown 8% in a year since 1951, when it totaled $356 billion.

Of note: Goldman's metric tracks fourth quarter over fourth quarter growth, rather than year over year.

https://www.axios.com/goldman-sachs...021-eb7e1d84-b6fa-483a-9e19-37a7faddadc0.html

Any word that comes out of Wall Street is 99.99% a LIE. The Parasitic Cancer which is Wall Street is only loyal to money.