Replying to Avatar Aurelius

It’s the percent that is important. Looking at that chart you sent, manufacturing as a percentage of GDP has dropped from 16-10%. Total growth is irrelevant: growth from 1,400 billion to 2,400 billion between 1998 and 2021 is less than even the inflation numbers published as CPI, which we all know drastically underestimate real inflation. “Growth” that matches or lags inflation is not growth at all. If purchasing power has not grown, growth is fictitious.
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graycat 2y ago

Why is manufacturing’s share of GDP important?

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Aurelius 2y ago

It is important because the FIRE industries (finance, insurance, real estate) wish us to believe that they play an important role in the economy, while in fact they play a parasitic role that eviscerates the real industrial economy and leaves the majority of the laboring public working ever harder for a dollar that is worth ever less, while the minority levies ever increasing rents and interests upon them.

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Aurelius 2y ago

The book that most clearly elucidates the transition from industrial capitalism to financial capitalism is perhaps Michael Hudson’s “Killing the Host.” I recommend this to every Bitcoiner.