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American Prosperity? GDP 31.8% in 2001- Down to 21.6% by 2011
Ms Sans Serif
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[quote:Anonymous Coward 961432:MV8yMDY2OTI4XzM0NzgxNTI4XzY2RTI1OTg3] [quote:GodFrequency:MV8yMDY2OTI4XzM0NzgxMDg4XzlBQzY3M0U2] The scarier version of this number is that: The Fed is the largest buyer of treasuries. This is the number we get while printing money and running deficits. This is a number created by a rigged stock market consisting of high frequency trading, buying our own treasuries, buying our own mortgage backed securities, and Quantitative easing to infinity. Between the years of 2008 and 2010 the Federal Reserve lent spent or borrowed 16 trillion dollars, and still the decline. This number is with the United States having trillions and trillions of derivatives! More than the worlds GDP This number is with a country that use to have the worlds reserve currency! This number is with the big banks paying nothing in taxes, and all the corporations exempt from Obamacare. This number would be negative if the real economic horror were to be seen. This is the number where we were all supposedly going to be saved by keeping General Motors, and all the Big banks by bailing them all out! Do you presume to question the great and powerful Federal Reserve? [/quote] Strangely, the dollar operates as a "Triffen Good" meaning the world has a high demand for the dollar to meet trade settlements, as global trade increases so does the demand for dollars overseas. However, US Corporations have been able to manufacture a seeming increase in profits over the past 4 years or so as the fed tries to devalue the dollar against other currencies, which makes their profits measured in foreign currencies appear to increase. So as the fed works to devalue the dollar other countries have a higher demand for dollars to settle trade, its a paradox. These are all accounting gimmicks, our whole eCONomy runs on gimmicks now, eventually gimmicks will lose their appeal and then we can start addressing the real problems like adults, most likely when the world switches over to some other unit of account for trade settlements, bills of credit. [/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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