Russia and Ukraine

[jellyrug]

What you refer to as real GPD is called nominal GPD. It takes inflation, which you used as a tool in your reply, into consideration. The economy did indeed thrive, during a democratic administration no less, but that in itself has nothing to do with inflation or GPD. It’s the people.
So, in answer to your question, it has a direct bearing on the price of tea in China.
(By the way, the common saying is the price of rice in China)

No. The chart you posted is a correct graph of GPD. Jelly said that inflation negates gains in a couple of the years, and I tried to explain it to him. It’s similar to net and gross sales. Nominal GPD takes inflation into consideration and inflation was bad in ‘22 and ‘23 but by 2024 the upward swing continues as we got past the negativity of Covid.

All that said, take this with a grain of salt, as remember, I’m just an insane whiner.

What is GPD?
Never heard of it.
The formula for nominal GDP is: GDP = C + I + G + (X - M), where C represents consumption, I is investment, G is government spending, X is exports, and M is imports; essentially, it calculates the sum of all final goods and services produced in an economy at current market prices.

So, if you sold 6 ice creams in 2020 at $1 each the market value was $6. If you sold 6 ice creams in 2023 at $2 each, your market value was $12.
You and Bee would say you had a 100% improvement in GDP. I hate to remind you, that you still SOLD ONLY 6 ICE CREAMS. Your 100% increase was due to inflation. It means your money just had a whole lot less buying power.

Real GDP

Real Gross Domestic Product

View the annual rate of economic output, or the inflation-adjusted value of all new goods and services produced by labor and property located in the U.S.

fred.stlouisfed.org

Nominal GDP

Nominal Gross Domestic Product for United States

Graph and download economic data for Nominal Gross Domestic Product for United States (NGDPSAXDCUSQ) from Q1 1950 to Q3 2024 about GDP and USA.

fred.stlouisfed.org

Let me know, if you guys still want to argue with me that 2 + 2 = 5, when I think it is 4, then I should probably go play somewhere else.

 

[Red05]

What is GPD?
Never heard of it.
The formula for nominal GDP is: GDP = C + I + G + (X - M), where C represents consumption, I is investment, G is government spending, X is exports, and M is imports; essentially, it calculates the sum of all final goods and services produced in an economy at current market prices.

So, if you sold 6 ice creams in 2020 at $1 each the market value was $6. If you sold 6 ice creams in 2023 at $2 each, your market value was $12.
You and Bee would say you had a 100% improvement in GDP. I hate to remind you, that you still SOLD ONLY 6 ICE CREAMS. Your 100% increase was due to inflation. It means your money just had a whole lot less buying power.

Yes. Typo, my bad. Your ice cream scenario does represent a 100% increase in GDP. With inflation pushing the price of ice cream to $2, you're incorporating current market prices (inflation) and the formula and final figure are different. You conveniently leave out 2024 where the numbers are vastly improved.

 

[WuzzaCBXRider]

Calling someone a condescending azz who typed the sentence below is less of an insult than the sentence.

“Sigh, I wish I had zero common sense when dealing with you, it would have been so much easier.”

 

[jellyrug]

Yes. Typo, my bad. Your ice cream scenario does represent a 100% increase in GDP. With inflation pushing the price of ice cream to $2, you're incorporating current market prices (inflation) and the formula and final figure are different. You conveniently leave out 2024 where the numbers are vastly improved.

Maybe just to add, Real GDP or constant price GDP is annualized. So in fact, when you compare year over year, it is still skewed by inflation. I think Bee’s graph stopped at 2023 no?

Kamala use to say the same thing as Bee. There is a difference though, she was lying, Bee was mistaken.

 

[jellyrug]

Calling someone a condescending azz who typed the sentence below is less of an insult than the sentence.

“Sigh, I wish I had zero common sense when dealing with you, it would have been so much easier.”

You have insulted me so many times, it rolls off me like sh1t off a duck’s back. Sadly, your posts never include anything of intellectual value. Like a little dog yapping at cars passing by.

 

[Red05]

You have insulted me so many times, it rolls off me like sh1t off a duck’s back. Sadly, your posts never include anything of intellectual value. Like a little dog yapping at cars passing by.

Dang dude. You talking about playing somewhere else. Did they get sick of your antics? You don’t have to come on so strong in making a point. Bee and Wuzza are good dudes. Bee was not mistaken, the chart he posted was correct for GDP, and that things are improving. If anyone implies the economy improved while Biden was still in office, and has continued improving, you over react big time. Regardless , it’s not because of Biden or Trump. It’s because of us, the populace.

 

[jellyrug]

Dang dude. You talking about playing somewhere else. Did they get sick of your antics? You don’t have to come on so strong in making a point. Bee and Wuzza are good dudes. Bee was not mistaken, the chart he posted was correct for GDP, and that things are improving. If anyone implies the economy improved while Biden was still in office, and has continued improving, you over react big time. Regardless , it’s not because of Biden or Trump. It’s because of us, the populace.

Red, I give it to you, you are an expert at confusing subject matter, so that all relevance is lost.

About my antics, if you were a saint in posting, I would listen, but I think you actually outdo me. Here, let’s quote one of your posts.

“We as in you and all the white people?
You just keep spewing this racist crap and incredibly seem proud of it.
Phuck off”

 

[Red05]

“We as in you and all the white people?
You just keep spewing this racist crap and incredibly seem proud of it.
Phuck off”

You want to discuss whether Oz22 is a racist of the worst sort? I have no room in my life or this forum for idiots like him. You have a different opinion?

 

[jellyrug]

You want to discuss whether Oz22 is a racist of the worst sort? I have no room in my life or this forum for idiots like him. You have a different opinion?

I had very little interaction with him. No comment. We have a conspiracy expert who frequents here also. I try to avoid that, no point in going there.

Folks find me offensive when I try and debate with logical facts and I challenge their way of thinking. Guess it is about ego.
I don’t believe I have ever called anyone a racist or told them to F off.

If I challenge someone’s common sense and they take offense rather than counter debate, with logical discussion, then I guess it becomes a matter of ego and everything else is out the window.

People who have to be correct, even when they know they are wrong don’t like me, as I enjoy intellectual debate as an alternative. Sometimes I am wrong, I admit it and I don’t let ego get in the way.

Per the example discussed, if you believe the economy did great because the same six ice creams sold at double the price, and the only thing which changed was the value of money, then there remains no point in trying to convince you otherwise with logical discussion.

 

[Bumblebee]

All this came about simply because I posted a chart depicting the GDP and how it dipped in 2019 then shot off starting in 2020....

The chart didn't show the overall economy, just the GDP and was posted in support of what the GDP (and only the GDP) was doing.......not the economy.....

If we were discussing the general economy, the internet is full of data I could have found and posted but at the time of the original post, that wasn't the question.....

I am definitely not a financial wizard.....I just simply looked at data on a chart......

If we wanted to get into financial debates, I'd invite my former colleague to come on the forum as he is most definitely an expert in this field and is very well versed in the American economy as he does most of his trading in the US market...

 

[Red05]

Per the example discussed, if you believe the economy did great because the same six ice creams sold at double the price, and the only thing which changed was the value of money, then there remains no point in trying to convince you otherwise with logical discussion.

The economy was not strong from 2020-2023. It had nothing to do with Biden’s leadership just as the pandemic had nothing to do with Trump. Both things happened during their administrations. The economy was much improved in 2024 as the effects of Covid softened. Providing a proper service at a fair price is what makes the economy tick. It’s not complicated to me.
When you and I have a difference of opinion, you call it a lack of common sense, which only exists if nearly everyone agrees. 49% of the country says it’s not common at all.
As far as calling out a racist, I will always do that. I choose not to interact with Oz22 further, as we are half a world apart.

 

[jellyrug]

^^^^
OK guys, I’ll put on some white gloves and handle Bee and Red with utmost care, next time I see things differently.

Getting back to the title of the thread, let’s see where Israel and Hamas go. I cringe at swapping 100’s of war prisoners for a few innocent hostages. That is what happens when one side cares about their citizens and the other don’t care how many innocents they sacrifice.

 

[Bumblebee]

^^^^
OK guys, I’ll put on some white gloves and handle Bee and Red with utmost care, next time I see things differently.

Getting back to the title of the thread, let’s see where Israel and Hamas go. I cringe at swapping 100’s of war prisoners for a few innocent hostages. That is what happens when one side cares about their citizens and the other don’t care how many innocents they sacrifice.

You had better buy multiple pairs of those white gloves if that's the way you think......

And if you look at my post(s) you will note all I was speaking on was the GDP and that was only after a query was posed regarding it.....I personally could give two rat's arses about the GDP...
--------------------------------------------------------------------------------------------------------------------------------------------------------------
.........and the title of this thread is regarding Russia and Ukraine.....not Israel or Hamas.......

 

[jellyrug]

You had better buy multiple pairs of those white gloves if that's the way you think......

And if you look at my post(s) you will note all I was speaking on was the GDP and that was only after a query was posed regarding it.....I personally could give two rat's arses about the GDP...
--------------------------------------------------------------------------------------------------------------------------------------------------------------
.........and the title of this thread is regarding Russia and Ukraine.....not Israel or Hamas.......

I thought Red changed that to GPD? Don't care about it either, don't know what it is.
On a serious note, perhaps you should go read your original post once more?
Oops, I forgot to put on my white gloves.

 

[Bumblebee]

I thought Red changed that to GPD? Don't care about it either, don't know what it is.
On a serious note, perhaps you should go read your original post once more?
Oops, I forgot to put on my white gloves.

I went back and see what you are saying.....I misspoke and said "economic growth" instead of "GDP growth" probably equating the two to each other.

Hell, if we start holding everyone's feet to the fire for one simple error in semantics....it would smell like a spring BBQ around here because it happens in many threads on many subjects.....

 

[jellyrug]

I went back and see what you are saying.....I misspoke and said "economic growth" instead of "GDP growth" probably equating the two to each other.

Hell, if we start holding everyone's feet to the fire for one simple error in semantics....it would smell like a spring BBQ around here because it happens in many threads on many subjects.....

Well, at least I kept you from falling asleep for a few seconds.

 

[Bumblebee]

Well, at least I kept you from falling asleep for a few seconds.

LOL!

I've actually had a busy morning but have found a bit of time to check in here periodically....

 

[jellyrug]

LOL!

I've actually had a busy morning but have found a bit of time to check in here periodically....

Thread Hijack: We had a bathroom remodel at a customer's home this morning. Builder said the door would be unlocked. Got there, the door was locked, knocked, no one home. Looked under the porch mat, there was a key. Went in and the beds were not made, clothes on the floors everywhere, dirty dishes in the kitchen, got to the bathroom which was not ready for remodel and it somehow looked a bit different from my last visit. Two dogs, one in a kennel the other running around. I went into the wrong house. Scared the crap out of me.

 

[Bumblebee]

Thread Hijack: We had a bathroom remodel at a customer's home this morning. Builder said the door would be unlocked. Got there, the door was locked, knocked, no one home. Looked under the porch mat, there was a key. Went in and the beds were not made, clothes on the floors everywhere, dirty dishes in the kitchen, got to the bathroom which was not ready for remodel and it somehow looked a bit different from my last visit. Two dogs, one in a kennel the other running around. I went into the wrong house. Scared the crap out of me.

Yikes.......you are fortunate someone wasn't just in the back yard or coming up from the basement or something and you didn't get shot.....

However.......this is a pretty funny happenstance....should have left a note with the key......which said...."you never know when someone will come into your home so clean it up!"
-------------------------------------------------------------------------------------------------------------------------------------------------------------

Since this is my thread and we can hijack all we want.................years ago I had a white pickup truck and one day my wife and I went to the pharmacy to get a prescription when another white pickup up truck (different model and 2 door) pulled up on the other side of the road where a young woman got out of the passenger seat and into the pharmacy....

Minutes later she came out, crossed the street and got in my passenger side......and was looking at a sheet of paper talking away not noticing she was in the wrong truck....it wasn't until she was fastening her seatbelt and looked up........I wish I had a camera to capture the look on her face.....it was priceless....I looked over and the fellow in her truck was busting a gut in laughter.....

She apologized, jumped out and apologized the entire way across the street......it was pretty funny......