Despite the difficulties, the future of humanity is being decided in the Eurasian Economic Forum and BRICS, which are advancing and consolidating as a real alternative to obsolete Anglo-American imperialism. Without shouting, without boasting, and without "daddys." I'll repeat it once again: Vladimir Putin has been a blessing not only for Russia but for all of humanity.
The Dollar. This can be a confusing concept. Take GDP. In the US, financial 'services', interest payments, and rents are additions to US GDP rather than subtrahends, ie, expenses that should lower the metric. These might make up as much as 30% of US GDP. I don't believe this is so anywhere else, so that GDP actually measures productivity. Then there is unemployment. In the US, this is measured by people receiving unemployment benefits, yet there are huge numbers of people who 'have given up' on traditional economy and work in the informal economy, or just don't work or look for work.
Then I marvel at US oligarchs whose net worth is inflated by asset bubbles, yet their dollars actually do buy things in the real economy. All this means that the 'dollar' is more conceptual than actual. Historically, this is similar to European 'Dark Age' economies where the people used the concept of the Roman dinar long after the Fall of Empire and even though no physical coins existed.
The GDP portion that’re rents and other non-productive financial things plus other economic costs exist most everywhere that sort of accounting exists since it’s the Western model. I’ve argued for years that the Outlaw US Empire’s genuine GDP is about $12 Trillion and is slowly declining. I highly suggest watching today’s Hudson/Wolff chat, https://www.youtube.com/watch?v=-5vl79OTfzY
Despite the difficulties, the future of humanity is being decided in the Eurasian Economic Forum and BRICS, which are advancing and consolidating as a real alternative to obsolete Anglo-American imperialism. Without shouting, without boasting, and without "daddys." I'll repeat it once again: Vladimir Putin has been a blessing not only for Russia but for all of humanity.
amazing picture of that truck!! thanks karl.. james
Gargantuan is the word.
The Dollar. This can be a confusing concept. Take GDP. In the US, financial 'services', interest payments, and rents are additions to US GDP rather than subtrahends, ie, expenses that should lower the metric. These might make up as much as 30% of US GDP. I don't believe this is so anywhere else, so that GDP actually measures productivity. Then there is unemployment. In the US, this is measured by people receiving unemployment benefits, yet there are huge numbers of people who 'have given up' on traditional economy and work in the informal economy, or just don't work or look for work.
Then I marvel at US oligarchs whose net worth is inflated by asset bubbles, yet their dollars actually do buy things in the real economy. All this means that the 'dollar' is more conceptual than actual. Historically, this is similar to European 'Dark Age' economies where the people used the concept of the Roman dinar long after the Fall of Empire and even though no physical coins existed.
The GDP portion that’re rents and other non-productive financial things plus other economic costs exist most everywhere that sort of accounting exists since it’s the Western model. I’ve argued for years that the Outlaw US Empire’s genuine GDP is about $12 Trillion and is slowly declining. I highly suggest watching today’s Hudson/Wolff chat, https://www.youtube.com/watch?v=-5vl79OTfzY