Phil > The term Gross Domestic Product implies that something is actually produced, but as you know nothing at all needs to be produced
It's amazing how they have turned figures which were intended to mean something into pure garbage. The economy is actually contracting, less is being produced, more are out of work, jobs are being lost to overseas every day, interest on borrowed money is at an unprecedented high, national prestige is at a low, Eyerak is like a noose around the neck --- and they have the rank audacity to claim that "growth" is at an unprecedented high. (In fact, the reason corporate profits went up is because they fired the workers and didn't replace inventory.) They must really think that people are morons to believe such stuff (which we know they are and do, especially the economists).
What is the most amazing is that they claim government expenditure didn't rise (so what happened to the $500 bn?) and that military expenditure over Eyerak was actually the big boost to the economy. To use your analogy, it's like a drug addict claiming that his income went up because his expenditure on drugs increased.
> they are now claiming the US has entered into a kind of super productivity environment, which will ultimately bring back jobs because no other nation can achieve this miracle
Well, if you think about it, it's true. The more they print, the more they borrow, the more they spend, and the less they produce, the more the economy grows. Clearly, they have invented a perpetual motion machine. (BTW, motion is a polite way of talking about feces)
> figures don't lie, but liars figure
And W's administration are proven masters at that.
> New home construction and auto industry are the two main big ticket items which continue to benefit from the low interest rates.
Think of the 3000+ new homes and all the new cars needed in California after the fire. The US economy is sure to grow by at least 10% next year. In fact, the bigger the fire and the more homes and cars which are lost, the more the economy grows.
> Some people have likened this constant ongoing money injection to a patient on a heroine I.V. drip. What happens when you take away the heroine?
Just like what happened to W when they took away his booze. You find your kicks elsewhere. In his case, by killing "evil" people.
Only in America. |
