I’m wondering if there is any way of knowing how much money changed hands in a single day. Lets say yesterday, August 21.
I spent about 12 dollars yesterday but I would like to know how much was bought and sold in the entire world.
Now many things we would not be able to add into the total. Like drug deals or bribes paid because of course these things are not recorded, at least the participants hope they aren’t.
But can we know how much in legitimate transactions occurred in a single day?
what counts as “transactions”? cash? credit? electronic transfers? billing? invoicing? shipping of goods? receiving of goods? conveying title of goods? You are going to find it difficiut to draw a clear definition but you have to do that before the question makes any sense. (later we’ll tell you tehre’s no way to know the answer)
I wondering about transfer of cash, either physical or electronic for goods and or services.
Yeah there is probably no way of knowing an exact ammount but a good guess would be nice.
Doen’t the Federal Reserve Board keep a day-to-day estimate of these figures, at least domestically (though it seems they must include some overseas transactions, just by the nature of the American economy) by their references to M1, M2, M3, and the like (whatever they are)?
Perhaps these figures could be extrapolated for the global economy.
Your local economics numbskull speaking here!!!
After the blackout it was reported that NYC lost X ammount in sales tax dollars. (don’t recall the actuall number 10 million?) So they have a pretty good idea of how much is usually sold in one day in NYC.