[lbo-talk] GDP per capita/Dougs comments

Dennis Redmond dredmond at efn.org
Wed Jun 23 14:54:54 PDT 2004



> Exchange-rate based comparisons are totally meaningless,
> as anyone can tell by simply considering the change in US
> per capita magnitudes, expressed in euros, between November
> 2000 and May 2004.

On the contrary, currency fluctuations between the two largest economies on the planet are very meaningful indeed. It matters because (1) probably half of the monstrous US current account deficit is financed by Europe, the rest by East Asia, and (2) the Eurobanks are the premier creditors of the world economy.

-- DRR



More information about the lbo-talk mailing list