3 ms·

I'll take your bet, but you might want to look at this chart before you hand me your money. http://www.google.com/publicdata/explore?ds=d5bncppjof8f9_&met_y=ny

I'll take your bet, but you might want to look at this chart before you hand me your money. http://www.google.com/publicdata/explore?ds=d5bncppjof8f9_&met_y=ny_gdp_mktp_cd&tdim=true&dl=en&hl=en&q=world+gdp+chart#ctype=l&strail=false&nselm=h&met_y=ny_gdp_mktp_cd&scale_y=lin&ind_y=false&rdim=country&ifdim=country&tdim=true&hl=en&dl=en http://www.google.com/publicdata/explore?ds=d5bncppjof8f9_&#... And this one. http://wastedenergy.files.wordpress.com/2010/05/20080301worldoilproductionwissnerlarge.gif http://wastedenergy.files.wordpress.com/2010/05/20080301worl...

kahirsch 15y ago
> I'll take your bet, but you might want to look at this chart before you hand me your money. Yes, there was a serious recession in 2009. In 2010, world GDP increased by 3.9%, according to preliminary World Bank figures.
- wazoox 15y ago
  Historically, since WWII each rapid spike of oil prices over 2006 100$/barrel for a few months is followed with a recession one year later. If the trend stays true, 2012 will be a recession year.
  - watmough 15y ago
    If you define recovery as a return to the pre-recession peak income less transfer payments, we've never actually recovered. http://cr4re.com/charts/charts.html?GDP#category=GDP&chart=PersonalIncomeLessTransferJune2011.jpg http://cr4re.com/charts/charts.html?GDP#category=GDP&cha... I suspect this would resonate with a majority of Americans.
- watmough 15y ago
  World GDP in a country with fast-growing economies and slow-growing economies, is not that useful a measure. As an example, Brazil, China, India have actually been growing at rates that would be miraculous in the US, because they have labor-intensive industry and increasing oil supplies. Old countries like the US, UK, France have barely moved the needle, and are scraping by through money-printing to finance massive deficits.

kahirsch 15y ago

> I'll take your bet, but you might want to look at this chart before you hand me your money. Yes, there was a serious recession in 2009. In 2010, world GDP increased by 3.9%, according to preliminary World Bank figures.

wazoox 15y ago
Historically, since WWII each rapid spike of oil prices over 2006 100$/barrel for a few months is followed with a recession one year later. If the trend stays true, 2012 will be a recession year.
- watmough 15y ago
  If you define recovery as a return to the pre-recession peak income less transfer payments, we've never actually recovered. http://cr4re.com/charts/charts.html?GDP#category=GDP&chart=PersonalIncomeLessTransferJune2011.jpg http://cr4re.com/charts/charts.html?GDP#category=GDP&cha... I suspect this would resonate with a majority of Americans.
watmough 15y ago
World GDP in a country with fast-growing economies and slow-growing economies, is not that useful a measure. As an example, Brazil, China, India have actually been growing at rates that would be miraculous in the US, because they have labor-intensive industry and increasing oil supplies. Old countries like the US, UK, France have barely moved the needle, and are scraping by through money-printing to finance massive deficits.