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Politics : Ask Michael Burke
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To: BGR who wrote (78416)3/23/2000 10:06:00 AM
From: Mike M2  Read Replies (1) of 132070
 
BGR, you ask for proof in 1999 there was $5 of credit growth for every $1 increase in GDP. We have covered this before in 1929 the credit growth peaked at $2.20 for every dollar of GDP growth. These numbers demonstrate that much of the credit growth is being channeled into financial speculation rather than productive purposes. If credit is used for investment in productive enterprise it should be captured in the GDP statistics Right? If not please explain where you think this credit is going? mike
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