UK media: US GDP surges in the third quarter, surpassing China is an illusion......
On December 24, the UK's Financial Times published an article: "The US GDP grew at an annualized rate of 4.34% (the US Department of Commerce reported 4.9%) in the third quarter, with a year-on-year growth of 2.33%, and a nominal GDP growth rate of 5.38%. Considering exchange rate factors, China's GDP in the first three quarters was equivalent to 62% of that of the US, a significant drop from the high of 76% in 2021. However, this impressive data has not been recognized by the market, with the dollar index continuing to fall and gold prices rising to 4540, highlighting the market's doubt about the reliability of US data. In fact, the US GDP growth is driven by the issuance of US bonds. Corporate investment increased by only 2.8%, but it has not been converted into actual competitiveness. The influence of the military, trade, and diplomacy has declined. By contrast, China's GDP growth is solid, the real consumption value of the RMB has improved, and this year's trade war has achieved a historic victory. The RMB has now begun a slow appreciation. As the potential risks of the US dollar system become apparent, the comparison of GDP strength between China and the US may quickly reverse due to exchange rate changes."
[Witty] 4.34% GDP bubble: A fat fake supported by US debt, which cannot deceive the eyes of gold! The 4.34% annualized GDP growth in the third quarter of the US is actually a magic trick of 1.07% growth multiplied by four. With a year-on-year growth of only 2.33%, they dare to claim a win, comparable to the false prosperity before the 2008 financial crisis. This inflated data is entirely supported by the issuance of US debt - the growth of US debt far exceeds GDP, and interest costs consume a large amount of fiscal resources. AI investment accounts for nearly 92% of GDP growth, while the real economy is almost stagnant. This so-called growth is the cost of people's suffering: inflation pushes up the killing line, and the annual expenses of middle and low-income families have increased by thousands of dollars, serving as a vivid footnote of painful GDP. The market has already voted with its feet: the dollar index fell, gold soared to 4540, and it has risen by 70% in one year. After the data announcement, it only dipped for half an hour before continuing to rise. The US has forgotten the lessons of the false prosperity before the Great Depression in 1929. Now, they are embellishing the situation by falsifying data and issuing excessive national debt. Such self-deceptive economic miracles are just the last carnival before the collapse of the dollar system!
Original: toutiao.com/article/1852365586156612/
Statement: This article represents the personal views of the author.