Also, by definition, if dollars left the country then stuff came in. We literally traded bit flips in a database for tangible stuff.

▲ groundzeros2015 38 minutes ago | parent | next [-]

Bit flips in a database = years of people’s labor and planning

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nixon_why69 34 minutes ago | parent | next [-]

No, it's literally just bitflips. The supply of dollars increases by trillions a year between fractional reserve banking and, depending on the year, fed policy. We're not even printing them.

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wat10000 21 minutes ago | parent | prev [-]

An arbitrary score that's meant to represent said years, not the actual output of those years.

It's important to remember that money is not value. It's a score that's meant to represent value, but the value itself is entirely distinct.

	▲	groundzeros2015 2 minutes ago \| parent [-]
		People literally work their lives for that representation. It’s not the value itself but it’s a way to store and transfer certain kinds of value.

▲ smallmancontrov an hour ago | parent | prev [-]

...and then whoever sold us the goods turns around and uses those dollars to bid up US assets. Next time you are bidding for a house, take some time to appreciate just how expensive those bit flips have made things.

It did make it easy to raise capital, though, which is nice.

▲ selectodude an hour ago | parent [-]

Don’t blame imports for our sclerotic country banning construction nationwide. Plenty of countries have spent billions on new construction in the US and gotten smoked. The buildings still stand though.

▲ throwaway2037 35 minutes ago | parent [-]

    > Plenty of countries have spent billions on new construction in the US and gotten smoked.

I don't follow here. Can you explain and provide an example?

	▲	nixon_why69 28 minutes ago \| parent [-]
		The point is foreigners reinvesting those dollars into development in the US is... even more stuff in the US in exchange for bits. Yes, it's owned by foreigners and sends cash overseas but all of the economic activity is here and if push came to shove.. they're not exporting the building. It's not all gravy, there are issues with having global capital so deeply involved in the country, but it's better than the alternative, there's a reason Americans live so well and its not because they're all smarter or harder working.