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American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Northman:MV8yMDY2OTI4XzM0Nzc4MDM4Xzg2NkE3Mjc2] [quote:Just Some Guy:MV8yMDY2OTI4XzM0Nzc3OTQwXzkwNDI0NzVB] I'll bet more of that statistic has to do with China and India's growth over last ten years than our output going down. [/quote] Why bring facts into the discussion? [/quote]
Creating the illusion of economic growth is easy if you can print money. It’s a prank you can play on an entire country. Cut the value of the currency in half and the economy’s size will appear to double.
The only way to accurately measure changes in a nation’s economy is to do so relative to the world (see Notes for non-nerds below before protesting). According to the World Bank, the U.S. represented 31.8% of the world’s economic activity in 2001. By the end of 2011, that share had dropped to 21.6%, meaning America’s slice of the world economy is 32% smaller than it was a decade ago, and getting smaller every day. Note that America’s housing bubble did nothing to boost the U.S. on the global stage.
link to acrossthestreetnet.wordpress.com
Let's see how much the government can print this month and lie to us about how well we're all doing! Weeeeeeee
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