[lbo-talk] financial exchanges proportion ?

SA s11131978 at gmail.com
Tue Feb 10 10:00:34 PST 2009


Jordan Hayes wrote:


>>> Where did I read that financial exchanges volumes were
>>> 10 times (or something similar) more important than
>>> goods/services exchanges ?
>>
>> [...] 2007 average daily turnover in the global foreign
>> exchange market at $3.2 trillion, which on an annual basis
>> would I guess be something on the order of 50 times global GDP.
>
> So ... "more" == "more important" ...?

No, I almost added that these comparisons don't mean anything. Reminds me of when people gasp at the statistic that Wal-Mart's annual sales equal x% of GDP, even though this involves massive double-counting, since gross sales are not a component of GDP.

SA



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