The American Empire in a Changing World


Monday, October 22, 2012

''Our Fiat Dollar Has Cost the United States $80 Trillion''

see triffen's dilemma...............From Forbes
By Louis Woodhill

''During the 22 years from 1952 through 1973, our economy grew at a real average rate of 3.81%.  Over the subsequent 37 years, U.S. real GDP growth averaged 2.68%.  If our economy had grown at the same rate 1974 – 2010 that it did 1952 – 1973, America’s real GDP ($2011) would have been $22.2 trillion in 2010, a full 50% higher than the actual result of $14.8 trillion.  Federal revenues in 2010 would have come in at about $4.1 trillion, and the federal budget would have shown a $0.6 trillion surplus instead of a $1.5 trillion deficit, despite our current excessive level of federal spending.''

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