“It was pointed out elsewhere that the U.S., which has 6% of the world’s population, consumes 25% of the world’s energy. “
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The U.S. also accounts for about 25% of the world’s GDP.
Apparently, much of it consisted of trading debt.
Ah, yes...GDP... that wonderful measure of SPENDING and CONSUMPTION, not truly just a "production" number.
Importing a cheap trinket and unloading it and shipping it and storing it and distributing it and selling it to a consumer all boost the GDP, but we haven't really produced a d@mn thing that would pay for that imported trinket. It sure looks good to have all those dollars of GDP on our stats, though, for a 10¢ hunk of plastic.
And let's see...keeping house and raising children is absolutely worthless....unless you have to hire someone else to do it. Then, it becomes booming economic activity (yes, boosting the GDP)! Does that mean we have produced anything to pay for that trinket? Nope...but our GDP went up!
Borrow, borrow, borrow...ask people to ship stuff to us and put it on our tab, all the while pointing to a rising GDP. HA!