This is big picture, long term stuff. OK, first the Good News ...
Good News ...
Because of advances in technology, innovation, and significant improvements in U.S. productivity, America's share of total world output has remained remarkably constant at a little more than 25%, despite the significant increases in output around the world, especially in Asia.
Bad News ...
Good News ...
Because of advances in technology, innovation, and significant improvements in U.S. productivity, America's share of total world output has remained remarkably constant at a little more than 25%, despite the significant increases in output around the world, especially in Asia.
Bad News ...
With the rise of other national economies, our bloated national debt, and the slow collapse of the dollar, the world has slowly dropped it's use of the dollar for trade and as a store of value ...
So, are we on the right track given the rise of the rest of the world (since we're holding steady), or is something amiss?
We'll be discussing this in class on Monday.
- Mark
So, are we on the right track given the rise of the rest of the world (since we're holding steady), or is something amiss?
We'll be discussing this in class on Monday.
- Mark
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