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What a surprise...I have news for you....4 engine commercial jets are being canceled everywhere.
I might be wrong in this but Quantas may have retired its 747s. Monday I was close to Seatac airport and I looked up and the usual Quantas flight out was not a 747. It was a 2 engine Boeing. I hardly see any 4 engine planes around Seatac.
Boeings Maxx is still having problems too. Equipment grounding issues I guess. They are still taking a beating. Chinas COMAC is the next big thing.
Nominal GDP is useless...by PPP Russia is the 5th economy in the world (upgraded from 6th) in the world...period.
Nice try with the 1990 entry point...conveniently forgetting the disastrous 1990s (they were much worse than the Great Depression by comparison) when Russia followed the west recipe....between 1991 and 1998 the Russian economy contracted by well over 40%.
Makes you wonder why so many pay attention to GDP?
Careful which examples you choose......
Quote:
Purchasing power parity is an economic term for measuring prices at different locations. It is based on the law of one price, which says that, if there are no transaction costs nor trade barriers for a particular good, then the price for that good should be the same at every location.[1] Ideally, a computer in New York and in Hong Kong should have the same price. If its price is 500 US dollars in New York and the same computer costs 2000 HK dollars in Hong Kong, PPP theory says the exchange rate should be 4 HK dollars for every 1 US dollar.
Remember in the last 20 years, the ruble has devalued against the dollar by 700%, or 35% a year...
Alternative currencies have no future without state support. Digital state currencies are still state sponsored currencies
The plumbing architecture (the realm of fintech) has nothing to do with the unit of account...not to mention that if you try to get a little too "independent" from regulators and state control, you get smacked...ask Jack Ma.
A modern day Tulip mania based on pure speculation. Bitcoin is not even a currency.
Governments can squash it whenever they like it...so far it's a relatively small market and the Fed and regulators already warned so called "investors" that anything happen they are on their own, no bailout.
Last edited by saturno_v; 04-29-2021 at 09:05 AM..
Makes you wonder why so many pay attention to GDP?
Indeed, nobody pays attention to nominal GDP, PPP is what it counts...and this especially with the anglo countries and their horribly inflated FIRE sectors, they are the ones taking the biggest hit when you rank them by PPP. Then you have also to look at the "quality" of GDP as well but that it's another story.
South Korea may have a higher nominal GDP but the country economy would collapse within weeks if subjected to sanctions or supply chain disruption (war or otherwise).
Last edited by saturno_v; 04-29-2021 at 09:05 AM..
Yes, the Russian plane is fine, the Russians even developed their own flight electronics and are thus not dependent on Honeywell. They also have their own engines, so they are virtually independent from the West now. As far as I know, the biggest challenge was replacing certain fiber-reinforced parts of the plane which they planned to import, but no longer could because of the sanctions.
But the aerospace industry is highly politicized, Europeans probably won't buy Russian planes because of Airbus, the same goes for the US because of Boeing. Russia itself is a small market. China, India and the Global South in general might be Russia's future clients. A lot will depend on the price per plane.
China and Russia are developing a bigger plane together, that will compete with the biggest Boeing and Airbus planes.
The problem is Russian engines aren't capable enough to build a large two engine aircraft. They have to use 4 on a widebody... but nobody wants it because it does not compete with Boeing and Airbus products. It is not political reasons that airlines showed no interest in those aircraft. They use a lot more fuel and don't even pass emissions standards of much of the civilized world. So no, the Russian plane is not "Fine". It is outdated technology and its development was a total waste of Russia's resources.
Indeed, nobody pays attention to nominal GDP, PPP is what it counts...and this especially with the anglo countries and their horribly inflated FIRE sectors, they are the ones taking the biggest hit when you rank them by PPP. Then you have also to look at the "quality" of GDP as well but that it's another story.
South Korea may have a higher nominal GDP but the country economy would collapse within weeks if subjected to sanctions or supply chain disruption (war or otherwise).
PPP is what counts per person. Nominal GDP is what counts when comparing countries.
PPP = standard of living
Nominal GDP = national economic power/importance
Why? Because of trade. Prices for external inputs are not priced into PPP units. They are measured in dollars and that is the reason why China manages their currency against the dollar.
Who says that national PPP matters most? Those who defend countries with declining currencies (which inflates PPP). So back when nominal GDP was rising in Russia (2005--8) Russians crowed about this achievement. Now that they have negative nominal growth for the past decade, it doesn't count!
The problem is Russian engines aren't capable enough to build a large two engine aircraft. They have to use 4 on a widebody... but nobody wants it because it does not compete with Boeing and Airbus products. It is not political reasons that airlines showed no interest in those aircraft. They use a lot more fuel and don't even pass emissions standards of much of the civilized world. So no, the Russian plane is not "Fine". It is outdated technology and its development was a total waste of Russia's resources.
I disagree, it is all political. The thing is, the Russian aircraft can also be ordered with Western engines, yet nobody did.
You believe Russian airlines order western aircraft for political reasons? A rather peculiar take
They order both, probably because Russian manufacturers don't have the capacity to make enough planes, although that might have changed due to the pandemic.
Aerospace is utterly political, just think of the massive subsidies in the US and EU.
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