GDP

Smoke And Mirrors Running Out — Depression to Follow

Those who believe the economy is recovering are ignorant of the facts. Other than the Great Depression no US recovery (and I don’t believe we are in a recovery) taken longer. Eventually it may take more than a decade like the 1930s. Or perhaps it will be like Japan which is in its third decade of “recovery.” Politics and Economics [...]

Manny Pacquiao — Tax Expert

It happens slowly and in ways never imagined. High US tax rates are destructive to the economy. Anyone with material income is changing his behavior, whether it is with respect to current earnings, investment income or even emigration. These microeconomic decisions, people altering their behavior to adjust or offset the pain government wants to inflict on them, is what makes [...]

Pick A Number, Any Number

GDP is a bad measure of an economy's health for a host of reasons. It is also a measure that is easily manipulated by the government employees who put it together. As an example of just one way it can easily be influenced, one can take a look at how nominal GDP is converted to real GDP, the figure that [...]

The Government Is Bankrupt and Will Destroy The Economy

Most people don’t understand the unsolvable problem the US government has created for itself and its citizens. Sovereign default is beyond a likelihood; it is inevitable. When and which (possibly all) obligations are defaulted on are to be determined. Panicked political decisions, likely in the near future, will produce a complete financial and economic collapse. Hopefully that is the worst [...]

The Futility of More Debt

Charles Hugh Smith discusses the debt problem and why more debt is not the answer: Why The Debt-Dependent Status Quo Is Doomed in One Chart  (June 29, 2012) The global economy is now addicted to debt. Once debt stops expanding, the economy shrivels. But expanding debt forever is unsustainable. Welcome to the endgame.Regardless of whether you call it debt saturation [...]

US “Prosperity”

Bill Bonner comments on the non-miracle of the US economy: The stock market began its epic march up the mountain in 1982. Since then, it’s gone up 13 times (as measured by the Dow). US GDP is up about 13 times too. But much of the “growth” in stocks and GDP in this period was phony. The tape measure, used [...]

Inevitably, It’s All Falling Apart

For a few years I have been warning that there can be no recovery. The passage of time has not changed my opinion but is beginning to change the opinions of others who previously believed the government recovery propaganda. Even Keynesians tip their hands as to the real state of the economy when they claim the stimulus was not big [...]

John Williams on Government Statistics

Read this interview with John Williams of Shadowstats: James J Puplava CFP with John Williams Sponsored by: PFS Group Jim welcomes back John Williams from Shadow Government Statistics. John believes the real unemployment rate is 22%, not 8.1%, which is why it still feels like a recession. He also calculates the CPI at 6%, not 2.8%, and explains how the government manipulates the rate of inflation. Lastly, [...]

Up The Creek Without A Paddle

The contrast between what we see in our every day lives is not consistent with what government tells us is happening in the economy. The so-called recovery certainly doesn’t feel like one; it is certainly unlike any of the others over the last 50 or so years. If inflation is not a problem, one can only wonder how government obtains [...]

The Effects of Taxes on Economic Well-Being

Empirical tests are difficult in the field of economics. There are many reasons why Austrian economists in particular are reluctant to admit them as evidence for or against a position. Nevertheless, sometimes the data are so compelling that the results cannot be ignored. Certainly the data in the accompanying charts to the right suggest that tax cuts (lower taxes) assist [...]

GDP: China vs. US

Charles R. Andersen has an interesting comparison on various country GDP measures. The US GDP is approximately 50% larger than China’s. On a per capita basis, the US is almost 7 times larger than China. However, China has already surpassed the US in manufacturing and is 46% larger.

The Fraud of GDP

The time to save is now. When a dog gets a bone, he doesn’t go out and make a down payment on a bigger bone. He buries the one he’s got. Will Rogers The number one myth that politicans want you to beieve is the following: 1. U.S. GDP Is Growing U.S. GDP has increased by 4.26% from 2007 to 2010, according [...]