PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Oeconomicus who wrote (515458)	12/24/2003 12:14:14 PM
From: JBTFD	Read Replies (1) of 769670

Since you are "stuck" in a mindset that sees things through a US$ denomination, I will give you one example of how Americans have "lost ground". (To see how a 8% gain in GDP compares to a 12% decline in the value of the dollar, you need to step outside of using the US$ as your baseline, which you seem to be unable to do. Maybe this will work, think in terms of simple math. If you take a number, say 10 for example and add a 8% gain and then subtract a 12% loss, will your ending number be more or less than your origional number?) The example I will give is debt. The average American has a larger debt burden(including home equity and mortgage debt as well as consumer debt) than he did a year ago. That is one way in which we have "lost ground".

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