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DECLINE IN THE VALUE OF US MONEY
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Some people say that it is money that makes the world go round. A better way to understand money is that it is more a lubricant than a fuel.
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GROWTH OF US HOUSEHOLD DEBT
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This is one of the most obscene trends in finance and rarely discussed. Consumption, which is a key component of the GDP calculation and an important driver of corporate profit has been sustained by ruining the balance sheet of wage earning housholds.
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PROFITS ... THE DOMINANT GOAL IN THE MODERN ECONOMY
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This
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FINANCIALIZATION ... BIG ROLE FOR CAPITAL MARKETS
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Capital markets are widely seen as a proxy for economic performance. They are monitored minute by minute round the clock and reported on by all the mainstream media. What they measure is not well understood, but that does not seem to matter. Worse, key issues related to social and environmental performance are not reflected well at all!
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GDP ... NOT ONLY A STUPID METRIC, BUT ALSO DANGEROUS
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GDP was a breakthrough metric when economists introduced it better to understand the Great Depression of the 1930s. Post WWII, both Keynes and Kuznets wanted it to be upgraded, as did Bobby Kennedy in the 1960s.
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