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6/18/2025, 12:24:10 PM
ID: nXcZWzHg/biz/60517036#60517645
6/18/2025, 10:23:50 AM
>>60517173
Yes, because when Mr. Goldberg and his trading buddies decide my country's currency is worth 50% less, I can magically buy 50% less bread in a local store. A bread which is entirely made from resources produced or extracted in my country, with wages paid in a local currency.
Nominal GDP is the ultimate detector of a midwit. The whole reason PPP got invented is to fix bugs like that and make it closer to real economic power between countries.
Yes, because when Mr. Goldberg and his trading buddies decide my country's currency is worth 50% less, I can magically buy 50% less bread in a local store. A bread which is entirely made from resources produced or extracted in my country, with wages paid in a local currency.
Nominal GDP is the ultimate detector of a midwit. The whole reason PPP got invented is to fix bugs like that and make it closer to real economic power between countries.
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