>What happened to all that "GDP"? How could such substantial growth simply disappear?
Because it was all a smokescreen. Growth during those times all on paper. We didn't expand our domestic production except on paper.
The reason we are in the mess we are in now is because people were led to believe that equity meant wealth. It does not. The govt. was raking in "money" from derivatives, mortgages, etc. In other words, they were making money off of our debt. As usual, twisting the numbers to show growth did nothing to propagate actual growth - it simply put off the inevitable.
You’re making me nervous.
I was just over at truthingold.blogspot and a comment contained the phrase “ebay is now selling gold at 50% over spot”
yikes!