Comment: I presented production with a century of perspective.

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I presented production with a century of perspective.

I included only that production that matched the definition I provided from 1913. Production would include manufacturing a lawn mowing machine & related accessories. Back when the Dow Jones Industrial Average began as an index of 12 common stock companies, production meant manufacturing, mining & harvesting.

Now the Dow Industrial Average includes banks? Now, macro economics is measured in fiat currency & adds up to annual spending. GNP & now more popular GDP use production in their name; but, very little traditional production is left in the US. For the US, somewhere near 10% of GDP is in the production national account. which is added to the summation of national accounts. All the summing of fiat currency gets us nowhere closer to paying debt. Used to be, with hard money, a nation could measure things better. Now, elastic currency, we have lost our way... Cannot even measure accounts proper. Bad measure.

Life, labor, money each have very different meanings to me. I take comfort in that.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul