U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected

Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by criddell on Thursday October 26, 2023 @11:53AM (#38027308)

A better question is to ask what is Japan doing right since they are a lot farther down this path. Their debt to GDP ratio is something like 230% which is almost 2x the US ratio.

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Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by seanmcdirmid on Thursday October 26, 2023 @11:55AM (#38027343)

The answer is that Japan isn't doing it right. People struggle, taxes are high and pay is generally low (but for tourists, Japan is incredibly affordable). They still do OK, but we shouldn't see Japan as a model of how to do things.

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Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by criddell on Thursday October 26, 2023 @12:02PM (#38027491)

Do you think if the government had less debt, all of those problems would be less severe?

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Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by seanmcdirmid on Thursday October 26, 2023 @12:12PM (#38027667)

That is impossible to say in isolation of just that one factor. My only claim is that Japan shouldn't be considered to be doing well.

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