5 ms·

Presumably this growth that the finance has supported is happening somewhere other than in the US?

med555 16y ago
Ummm, growth is still happening in the U.S., and has continuously happened aside from a few quarters here and there. The point is not if we're growing, but how much faster we can grow. This is very basic economics.
- rbarooah 16y ago
  The growth has been primarily in the financial industry. Oh - I get it now - the finance industry has provided support for itself to grow.
  - med555 16y ago
    "The growth has been primarily in the financial industry." Completely false and absurd. Supply follows demand. GDP has grown throughout every industry that hasn't seen a decrease in its demand (e.g. railroads, newspapers, etc.). That includes technology, consumer goods, and technology. The economy doesn't exist in a vacuum. The finance industry provides capital to all industries.
    - rbarooah 16y ago
      If the financial industry hadn't been bailed out, it would have contacted. In its case, supply hasn't followed demand. Supply is artificially high, because demand has been produced by force.
      - chopsueyar 16y ago
        How dare you criticize the interventionist market!
ig1 16y ago
http://timetric.com/topic/us-gdp-all-statistics/ http://timetric.com/topic/us-gdp-all-statistics/ US GDP today is seven times higher today than it was 60 years ago. At the worst point in the recession US GDP dropped to the same level it was in 2005. Yes, the US GDP grew as much between 2005-2009 as it shrunk during the recession.
- rbarooah 16y ago
  How much of that GDP growth is just the financial sector itself inflating?
  - yummyfajitas 16y ago
    Some of it, but not the majority of it. Industrial production is up and retail sales are up, for example. http://research.stlouisfed.org/fred2/series/RSFSXMV http://research.stlouisfed.org/fred2/series/RSFSXMV http://research.stlouisfed.org/fred2/series/INDPRO http://research.stlouisfed.org/fred2/series/INDPRO
- sudonim 16y ago
  A great source of economic info is Calculated Risk. http://cr4re.com/charts/charts.html?GDP#category=GDP&chart=InvestmentPercentGDPQ42010.jpg http://cr4re.com/charts/charts.html?GDP#category=GDP&cha... I'm relatively unfamiliar with this stuff, but do you really think GDP can grow exponentially? It looks like we're at the bottom of the skyrocket to the moon on your graph.

Ummm, growth is still happening in the U.S., and has continuously happened aside from a few quarters here and there. The point is not if we're growing, but how much faster we can grow. This is very basic economics.

rbarooah 16y ago
The growth has been primarily in the financial industry. Oh - I get it now - the finance industry has provided support for itself to grow.
- med555 16y ago
  "The growth has been primarily in the financial industry." Completely false and absurd. Supply follows demand. GDP has grown throughout every industry that hasn't seen a decrease in its demand (e.g. railroads, newspapers, etc.). That includes technology, consumer goods, and technology. The economy doesn't exist in a vacuum. The finance industry provides capital to all industries.
  - rbarooah 16y ago
    If the financial industry hadn't been bailed out, it would have contacted. In its case, supply hasn't followed demand. Supply is artificially high, because demand has been produced by force.
    - chopsueyar 16y ago
      How dare you criticize the interventionist market!

ig1 16y ago

http://timetric.com/topic/us-gdp-all-statistics/ http://timetric.com/topic/us-gdp-all-statistics/ US GDP today is seven times higher today than it was 60 years ago. At the worst point in the recession US GDP dropped to the same level it was in 2005. Yes, the US GDP grew as much between 2005-2009 as it shrunk during the recession.

rbarooah 16y ago
How much of that GDP growth is just the financial sector itself inflating?
- yummyfajitas 16y ago
  Some of it, but not the majority of it. Industrial production is up and retail sales are up, for example. http://research.stlouisfed.org/fred2/series/RSFSXMV http://research.stlouisfed.org/fred2/series/RSFSXMV http://research.stlouisfed.org/fred2/series/INDPRO http://research.stlouisfed.org/fred2/series/INDPRO
sudonim 16y ago
A great source of economic info is Calculated Risk. http://cr4re.com/charts/charts.html?GDP#category=GDP&chart=InvestmentPercentGDPQ42010.jpg http://cr4re.com/charts/charts.html?GDP#category=GDP&cha... I'm relatively unfamiliar with this stuff, but do you really think GDP can grow exponentially? It looks like we're at the bottom of the skyrocket to the moon on your graph.