Apropos of nothing, really. Just writing down a momentary observation. Don’t ask me what it means. I don’t know yet.
- Wealth: (economic) all things that have a monetary or exchange value.
- Gross Domestic Product: a monetary measure of the market value of all final goods and services produced in a period.
- Ergo, GDP is at most a subset of a state’s wealth.
US Total Credit Market Debt Outstanding / GDP, 1950-2017
1950: 461 / 320
1960: 764 / 543
1970: 1580 / 1051
1980: 4501 / 2790
1990: 13565 / 5873
2000: 29374 / 10003
2010: 53481 / 14721
2017: 68591 / 19832
US Debt/GDP ratio
1950: 1.441
1960: 1.406
1970: 1.504
1980: 1.613
1990: 2.309
2000: 2.933
2010: 3.633
2017: 3.459