But the us american economy is subsidized by everyone on the planet that trades in us currency and thus buys up the money its able to print. So those numbers are- dubious baseball stats at best?
I do, currently, think there is some level of “subsidizing” (wrong word) happening in the west.
USD is the wests reserve currency. It’s held by many western countries and much of western trade is denominated it in.
When the US prints money, they dilute the western reserve currency. It lets the US spend the value of every USD holder (including the value of debt denominated in the currency).
In other words, I think the US can spend the value of a large slice of the western economy (not just its domestic economy) on its own infrastructure and military projects through inflation by printing money.
Kinda. US treasure bills are the main world's reserve actives.
But the world also holds other kinds of active, and none of that is exactly caused by the dollar denominating trade.
Trade denomination causes some inflation exporting that can mess with other economies due to price stickness. But again, that's nothing like the OP claims.
It'll be hard for our economy if we stop exporting it, but that's true of any export.
The American economy is generating massive amounts of goods and services. This is a relatively hard fact.
The effect of the dollar being a worldwide currency is complex and not so straightforward. Strong demand for dollars actually would increase dollar value, which would increase borrowing costs, ceteris paribus. The US then increases money supply, to accommodate. It’s unclear that this dramatically increases GDP.
Unless your assertion is that the financial industry is overdeveloped? I don’t think it’s more than 10% of GDP off the top of my head.
I.e., that it indicates our "wealth" could be pulled away from us on very short notice.
Contrasted to, e.g the wealth being from sales of some commodity that the rest of the world will need for the next decade: crops, certain metals, or (maybe) oil/LNG.
[1] https://finance.yahoo.com/news/worlds-largest-deposit-lithiu...
[2]https://www.theearthandi.org/post/estimated-2-34-billion-met...
Then consider that Luxembourg and Ireland only top the list as a result of being tax havens for the world's rich. The picture looks grim.
Mississippi isn't well populated but most European countries are...so while those countries may be nicer places to live now, Mississippi's future looks brighter.
20 years of totally flat GDP growth capped by a brutal recession was more than enough for Sweden to switch gears and backpedal on an enormous amount of social welfare policy in the early 90s.