The Oil Drum | More thoughts from Pedro Prieto on NINJA Financial Issues and Energy

27 comments on More thoughts from Pedro Prieto on NINJA Financial Issues and Energy

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step back on May 29, 2009 - 11:59pm

GDP is not a valid measure.

The true promise of an American dollar ($$$) is that you can buy many many Chinese-manufactured goods with it (at your local Wal-marx box store).

And you can thus encourage more and more outsourcing of US manufacturing jobs.

And then you can scratch your head and wonder why unemployment keeps rising.

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WebHubbleTelescope on May 30, 2009 - 2:45am

So perhaps one can combine the various nations and repeat this on a global level? In a resource constrained system with labor and capital moving around freely, the global quantity seems to be the measure that we desire in the long term ... race to the bottom notwithstanding.

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27 comments on More thoughts from Pedro Prieto on NINJA Financial Issues and Energy

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