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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 457.82+1.3%Jan 23 4:00 PM EST
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To: gg cox who wrote (32523)4/7/2008 3:29:04 PM
From: blazenzim  Read Replies (2) of 219690
 
US GDP is a mirage. If I borrow $100k on my phony home equity and go on a spending spree, then that counts as $100k added to gdp.

When the bank writes off that $100k loan, that doesn't subtract from gdp.

Buying $7 lattes at Starbucks and having a $100 toe paint job at the salon all using borrowed money that will never be repaid isn't gdp.

I think US GDP will drop to $10 trillion or less.
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