How did you get THAT? I thought I had clearly stated that the number has been manipulated upward by changing criteria and weighting!
I have yet to see any evidence that REAL GDP, measured longitudinally consistently, has actually grown. Yes the population has grown, but so much of the number is housing price inflation due to low interest rates, non-market de facto tax increases driving up the cost of "healthcare", and equity price inflation due to low rates and reporting environment manipulation such as non-GAAP, that it's hard to see any actual growth in actual wealth generation.
A house is still a house. If that house doesn't change but its price doubles, there has been no additional wealth created, but the GDP number rises. Price growth only reflect wealth growth when dollar denomination is consistent, which it isn't.
I'm a believer in real fundamentals, and I just don't see it. What I see is widespread decay, coupled with urban renewal in select areas like mine, and the addition of new, cheap housing stock and cheap strip-mall-type development.
We need to really produce to get a rise in real wealth, in real GDP. We need coal, oil, shipping, concrete, steel, plastics, etc., and the services that support wealth increase, not just those that support wealth management and price increase.