Hi ACF Mike, <<Don't believe everything you read>> and I did not and do not, especially the bits about bytes, debt is good, productivity is magic, stocks always go up, real estate is safe, etc, and so forth, ad infi ...
<<"In 1950, real goods production accounted for 37.3 percent of real GDP, according to the Department of Commerce; in 1998 it accounted for 39.8 percent.">>
GDP, a next-to-meaningless mathematical construct, has naught to do with valuation, and real has zip to do with GDP, especially as Maurice's measuring stick is being toyed with over the years.
Without checking, I would guess I can say the same about manufacturing as % of GDP in the case of Japan, Argentina, and Zimbabwe and yet, some measuring stick indices (USD, DJIA, QQQ, etc) are indisputably not pointing up.
So yes, almost everything rises with monetary inflation.
Chugs, Jay |
