every measurable metric except for Gdp and consumption which isn’t really a win at all.
So much of US GDP is tied up in the FIRE sector anyway. Housing is overinflated. Insurance is overinflated. Tech is crazy overinflated. It’s something of a joke to say the US is outrunning China when US businesses are touting triple-digit P/E ratios following decades of low-interest borrowing and bailouts.
And with all the consumer goods prices skyrocketing, you have to wonder how long American excess consumption can even last. $4-6/gal gas isn’t going to be any kinder to the US Automotive market today than it was during the Bush Admin.
So much of US GDP is tied up in the FIRE sector anyway. Housing is overinflated. Insurance is overinflated. Tech is crazy overinflated. It’s something of a joke to say the US is outrunning China when US businesses are touting triple-digit P/E ratios following decades of low-interest borrowing and bailouts.
And with all the consumer goods prices skyrocketing, you have to wonder how long American excess consumption can even last. $4-6/gal gas isn’t going to be any kinder to the US Automotive market today than it was during the Bush Admin.