94% of U.S. GDP growth was fake in 2021
Economists distinguish real GDP from nominal GDP by valuing produced goods and services in constant prices using a base year from history — so that all change in real GDP is a change in the real amount of goods and services, not a change in prices.
If output stays the same but prices rise, it fakes you out and makes you believe GDP grew. Nominal GDP growth for 2021 was over 10% for the first time in 40 years, but was any of it real?
Another way to distinguish real GDP growth from “fake” GDP growth is to watch the change in immediately-spendable cash (hard currency). This distinguishes “monetized” growth — the fake growth seen when cash is printed to pay for things.
In 2021 in the USA, 94% of the growth in GDP was merely from the growth in spendable cash:
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Though nominal GDP rose by over 10% in 2021, real GDP didn’t even rise by 1%. Don’t let the official reports fool you. Fascism, like we have in the USA, does not pay the bills.