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by jsteele 6520 days ago
Now just a damn minute. If the article you linked to is correct, then the World Bank is playing a devious game of sleight of hand: They got the idea that the US must have "intangible wealth" because of the fact that the domestic resources and domestic production don't account for all the wealth. The sleight of hand is in the fact that they never consider the fact that the USA's rich classes operate in dozens of countries. The US imports most of its natural resources, and it even imports a large portion of the finished goods. All of these imports benefit American investors. About the only thing they export are the costs: Those who aren't part of the rich class have to constantly worry about their jobs going to China, India, Jakarta, and Indonesia, where labor is cheaper.

All "intangible" means in this case is "Oops, we missed it!"