TRUE STATE OF THE UNION, PRIVATE SECTOR WEALTH, CONSUMERS' FAUX LUXURY

Food, beverages and clothing. These non-durable goods make many Americans feel good. Fattening up and dressing well pleases many. 



Today, food and drink sales eaten and drank at home constitute 55% less as a percent of GDP than what these products did back in 1975. Today, food and drink sales for in home consumption are near True Dollars™ historic lows.



And here is why. Food prices have been falling for years owing to farming efficiency gains and food transportation gains. 

Now, let's look at another feel-good faux luxury, clothing and footwear.

Like food and beverages eaten and drank in home, so too have clothes and footware become an ever smaller part proportionally to GDP. Today, clothing and footware sales constitute 50% less percent of True GDP than such did back at the start of the irredeemable dollar.