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A comment on The American economy has left other rich countries in the dust. Parent comment

Re:The American economy has left other rich countries in the... by orwin on Tuesday October 15, 2024 @01:09PM (#41850693)
Peak oil in the north sea(2007), peak gas in the north sea (2006). While the US found out extracting their massive shale oil/gas reserves eROI was finally competitive.
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Re:The American economy has left other rich countries in the... by hamster77 on Tuesday October 15, 2024 @10:01PM (#41854925)
Combo of energy and better capital markets and banking system
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Re:The American economy has left other rich countries in the... by orwin on Wednesday October 16, 2024 @02:20PM (#41862052)
'better' is a funny word. Like I said in another post, it's due to a 'banking' revolution called 'shadow bank' (they aren't bank, they cannot print nor destroy money, but I guess it's close enough). From what I saw, its main effect is to decorelate GDP from production. A house sold 200k can produce 400k of GDP over a year if enough intermediaries put their hand in the pie. And I'm just talking about the mortgage here, not the house.
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