Over the past 21 years, United States nominal GDP has averaged 8.69% annual growth while MZM money stock has averaged yearly growth of 18.05%, a net difference of 9.36%. While the headline GDP figures may look impressive upon first glance, perpetuating frothy confidence in the markets, a look behind the curtain reveals a sobering difference. Now, the math cited above surely illustrates a problematic incongruity between the perceived productive capacity of a nation and what could either be captured through the PCE or else described as sleight of hand by the manipulative money-printers at the central bank. PCE data show an annual increase of 7.19%, leaving an unaccounted 2.17%. So, the PCE data either fail to capture the total increase of general prices or some of this money has been shipped elsewhere, thereby temporarily postponing the eventual rise of prices. As it turns out, the latter scenario is indeed supported by the widening trade deficit , unaccounted price incr...