~300B to ~245B in Pounds. ~360B to ~290B in Euros. The only currency that would make any difference to this result is one that has devalued more than the Rand. UK's GDP has gone up in dollars, most of the EU has gone slightly down. This is hardly about movement in the USD, but rather the massive devaluation of the rand against just about everything else.
the argument remains the same, financial flows
its common knowledge that financial flows far outweigh trade flows these days
the EU, UK and US have been printing vast amounts of money, and people have been purchasing their bonds because of uncertainty in world markets
theory suggests that printing such vast somes of money should lead to a devaluation in the currency (as with Zim) which we have yet to experience, those currencies are inflated according to orthodox economic theory
just as a side note, the US has been printing so much money that they no longer publish their M3 money supply stats, for atleast the last 10 years
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