On the market value of economiesby
Well, I'm back. Where was I? Part of the time I was lurking in the back alleys of Granada and Cordoba in Spain, helping my wife research her new novel (which is set in medieval Spain).
But I also spent some time considering the direction of this blog, and how best to improve it for the future. I have some ideas, but for now I'm back posting.
For this morning, a pointer to my new column, where I calculate that the fundamental market value of the U.S. economy--a concept that I just invented--is between $225 trillion and $255 trillion. That's the net present value of future GDP.
I also calculate that the fundamental market value of the U.S. economy is rising at $4 trillion to $7 trillion per year. That's the annual capital gains--more than enough to pay for all the international borrowing that the U.S. is doing.
More about this later.