Tag: gross domestic product
RANCHO SANTA FE, Ca., October 30, 2014 – Recently, China quietly overtook the United States to become the world’s largest economy on a basis of purchasing power (according to the International Monetary Fund). The President didn’t call a press conference to announce the accomplishment because it’s not exactly a favorable reflection upon his Administration. It’s also an election year, so expect it to be blamed upon a spontaneous response to an Internet video.
In reality, it occurred because China actually has an economic policy whereas the United States does not. Our Nation’s financial behavior in recent years has been somewhat less than “strategic” and the concept of “fiscal responsibility” never seems to have been contemplated … Read more