evince (01-28-2022), ThatOwlWoman (01-28-2022)
Republicans thought the stimulus would lead to a long Depression.
It led to the longest recovery in modern times.
They have to be a little self-conscious at this point about the fact that the last 3 Republican Presidents failed economically.
evince (01-28-2022), ThatOwlWoman (01-28-2022)
They do the short bus school of economics
The Austrian school
The one that does economics without math
Math proves it’s an utter failure
So they don’t use math
The only way that would happen is if we elected Conservatives.
Conservatives destroyed the economy 4 times in the last 30 years.
Well that's because we're only 1/4 of the way through his administration, you fucking moron.Returns on stocks are 1/4 of what the last administration was giving us and they keep dwindling down
When I die, turn me into a brick and use me to cave in the skull of a fascist
Stringfellow Hawk (01-28-2022)
Earl (01-28-2022)
Joe Capitalist (01-28-2022)
RE: the report that GDP increased by 6.9% over last quarter (and 5-ish% over last year)
Actually, this isn't good news, and here's why:
First, let's define what GDP is... GDP is the dollar value of all produced goods and services minus the dollar value of all imported goods and services.
Thus, the 6.9% "growth" value means that the dollar value of our economic production increased by 6.9% over the prior quarter.
What this number DOES NOT SHOW is the inflationary impact that is currently occurring. When goods and services cost more, the money spent on them increases. Yes, the BEA attempts to remove this, but they do so by using a much lower rate of inflation than what is actually being realized.
Once one realizes this, and then realizes that the GDP is not a measure of actual output of stuff created, but rather only an aggregate valuation of that stuff, one then realizes that the "good news" really isn't what it appears to be on its face. For example:
20 trillion units of stuff @ $1.00/unit = $20 trillion valuation
20 trillion units of stuff @ $1.15/unit = $23 trillion valuation
This example shows an increase of 15% in economic valuation (GDP) without creating a single product more.
So, I must ask, did our economy ACTUALLY expand 6.9% from the prior quarter?? OR are we simply realizing the increased valuation of goods and services while the actual outputs of those goods and services are decreasing??
Another way of thinking about this is thinking about taking a trip to the grocery store now vs taking a trip to the grocery store a few months ago. --- Did you pay 15% more at the grocery store AND also leave with 15% more stuff?? OR did you pay 15% more at the grocery store AND leave with the same amount of (or even less) stuff than you did a few months ago??
THIS sort of thing is what is sadly not being discussed with regard to the "6.9% GDP increase" number that was released...
IOW, sure, a 6.9% increase in GDP is all good and wonderful... BUT I'm paying 24% MORE for my health insurance premium than I did last year (and I'm receiving the same amount of coverage)... I'm paying 24% MORE for my propane to heat my home than I did last year (and I'm receiving the same amount of propane).
My pocketbook, which is what actually matters at the end of the day, says that the Biden Regime's economy, to put it in a nice way, ****ING BLOWS ASS CHUNKS...
FJB.
Let's Go Brandon.
"I did this".
I'm still waiting for world war III that the left swore up and down Reagan would cause. I didn't like Clinton but he turned out ok I didn't like Obama but he was a pretty good president. I thought Trump would be better than Hillary but I was wrong. People make mistakes. It's the wise person who admit their mistakes.
Joe Capitalist (01-28-2022), ThatOwlWoman (01-28-2022)
BartenderElite (01-28-2022)
Bookmarks