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The US economy is not growing through innovation which is what is always implied. Its "growing" because we are 1) printing more money 2) replacing American wo
by mwbajor 3y ago
The US economy is not growing through innovation which is what is always implied.
Its "growing" because we are 1) printing more money 2) replacing American workers with wage slaves from poor countries to work for peanuts and pocketing the difference.
- epistasis 3y agoDo you have any pointers or read about either of these? Because to the best of my understanding neither of these can explain a GDP growth as high as this.
- jonhohle 3y agoNothing can explain GDP as high as this and it will quietly be revised downward at a later date after politicians have long since finished their victory laps.
- epistasis 3y agoThat seems like a political belief, and not one based on any numbers... GDP growth was expected to be high. There are plenty of economists that can explain all the current phenomenon, they just get called "heterodox"
- mwbajor 3y agoSo a 'more efficient' workforce that does the same amount of work but for a fraction of the pay won't increase GDP?
- epistasis 3y agoIf you are talking about "slave wages" then I am asking for some pointers to numbers that show that the US is relying on imports more, rather than less.