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The amount of $ measured in terms of US GDP (also in $). That way of comparing things is fraught with issues
by jarym 3y ago
The amount of $ measured in terms of US GDP (also in $). That way of comparing things is fraught with issues
- JumpCrisscross 3y ago> amount of $ measured in terms of US GDP (also in $) It’s convention because it cancels out a lot of noise. (Both nominal.) And there are practical reasons for a larger economy needing more money to work than a smaller one. But if you prefer, it can be calculated in various ways, all of which tell a similar story: we’ve been in a different regime for the last 1 to 3 years in which there is less money, and a regime before that since 2008 when there was a lot more money.