Subject: Re: 140% “GDP Playing w/Fire”..50% higher?
50 years ago, when most US companies were US companies, perhaps only US GDP. But today, where some of (most of?) the largest companies are multinational,

The change is much smaller than most people suppose. Large US companies have always been exporters, even 50+ years ago. IBM, anyone? For example 27% in 1992 vs 29% in 2019 is not exactly a night and day difference.

Meanwhile, there is an offsetting change...revenues of non-US firms firms inside the US.

Jim