Gross Domestic Product GDP has often been used as an indicator to try and decide how well a nation is doing at managing its resources and caring for for its population.
Jim Willie January 31, Certain writers boldly proclaim a single chart being the end all, the one quintessential significant chart which tells the entire story. Well, here is another. It exposes the erroneous GDP statistic, and reveals its extreme massage for a clear overstatement. The term "real GDP" means adjusted for price inflation.
Lately, woefully and embarrassingly little price inflation has been removed, in keeping with a policy of disinformation.
Most claimed economic growth is inadequately removed price inflation. Heck, it is good for the bond market, and good for the stock market. However, the GDP is not "real" really. Does the world accept our lies on face value? The Q4 economic growth statistic came out last week at a meager 1.
This is a lousy number. It has been sounding the alarm for some time. There is no conundrum, except the mystery as to why Greenspan is respected at all, and not hanged in effigy on the Wall Street square.
Debt addicts do love their monetary drug dealer, especially since he never denied his customers their fixes. Finally we saw the impact of the hurricanes. The unstated objective of the quacks who work as creative accountant statisticians in WashDC is to minimize and suppress the Deflator series so that growth is exaggerated, using many methods often discussed.
Not only is the adjustment mechanism horribly low, but also other hedonic multiples are granted to infotech spending so as to credit speed increases to technology products in nonsensical fashion.
These are fictitious sales, yet counted as growth.
The basic fact is that USGovt quack statisticians simply do not remove price inflation adequately; they don't remove enough. Accountants focus unduly on the urban resident, who can take advantage of Asian imports, great bargains from inventory liquidations, and all those BigBox retail chains with discounts.
The USEconomy also consists of farmers whose purchase costs are rising alarmingly, of construction firms whose material costs are rising everywhere, of retirees whose food and prescription drug costs are rising noticeably, of students whose food and tuition and book costs are rising painfully, of most workers whose gasoline commuting and health care costs are rising steadily.
When in Germany last November, most people in my path mentioned a near total distrust of US official data. They openly wondered if we produce honest statistics anywhere at all, from the government or in the corporate world?
Can any reasonable person really accept as legitimate a series which has removed only 9.
That is an average of less than 2. This is totally absurd, an insult to my and your intelligence, and an outright fraud. My many frequent conversations deal with a cross section of people. Almost nobody understands how it is removed.
Can any reasonable person really accept as legitimate a series which runs 1.Talk:List of countries by GDP (PPP) per capita/Archive 1 Talk:List of countries by GDP (PPP) per capita.
This is an archive of past discussions. but wiki should really be more accurate otherwise no one is going to use source as relaible.
BTW PPP(EU estimate) for Greece was % of EU avrage, EU avrage is U$ giving Greece USD. gdp should really stand for “grossly deceptive product” GDP Definition: Gross Domestic Product (GDP) is defined as a measure of the total flow of goods and services produced by the economy over a specified period usually a year.
”.Gross Domestic Product “The total market value of all final goods and services produced within an economy in a given year. The Economist has said: “GDP should really stand for Grossly Deceptive Product.” GDP forecasts are given great weight in many business plans but this can be misleading.
gdp should really stand for “grossly deceptive product” GDP Definition: Gross Domestic Product (GDP) is defined as a measure of the total flow of goods and services produced by the economy over a specified period usually a year. Jan 01, · Gross Domestic Product (GDP) has often been used as an indicator to try and decide how well a nation is doing at managing its resources and caring for for its population.
This small book attempts to tackle why GDP isn't an effective measure for policy makers to /5. Here’s the question of the day: Does GDP stand for Gross Domestic Product or Grossly Distorted Procedures?
One of the reasons I ask is the latest push by countries to include prostitution and drugs sales in GDP calculations.