>The $11 trillion of GDP is as real as $11 trillion, or a
>GDP, can get. Just a significant part of it is an
>anticipation of future value creation that might not
>take place, or will only take place if and when a new,
>and sustainable, regime of accumulation is found.
You may be describing an economic model, but you're not describing GDP. The national income and product accounts (NIPAs) are records of current production and income earned in production. The anticipation of future value creation is what financial instruments are all about, but they don't figure directly in the NIPAs. Some production is financed on credit, but there has to be real money put down on the table for it to happen.
Doug