I have two observations: one is that under exponential growth, wealth, GDP and GDP growth become interchangeable, as the rate of GDP growth squals the ratio of GDP to wealth.
The second observation is that DoDo above is forgetting that we're talking about rates so that if the same amount of money can be pushed around faster then GDP will increase. (source) Appart form money supply and inflation, the velocity of money is the third factor in GDP.
So maybe all that's happening with global GDP growth is that the economy is accelerating. The problem is that thermodynamic cycles become more and more inefficient the faster they are operated, and that these inefficiencies are not properly accounted in economics. guaranteed to evoke a violent reaction from police is to challenge their right to "define the situation." --- David Graeber citing Marc Cooper
That's not to say that borrowing on low rates is necessarily bad. Managed properly, it can be perfectly intelligent to take advantage of that situation. It can also, of course, become a catastrophic mistake. That's all according to how people behave. Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
