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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: gg cox who wrote (32523)4/7/2008 3:29:04 PM
From: blazenzim  Read Replies (2) | Respond to of 219610
 
US GDP is a mirage. If I borrow $100k on my phony home equity and go on a spending spree, then that counts as $100k added to gdp.

When the bank writes off that $100k loan, that doesn't subtract from gdp.

Buying $7 lattes at Starbucks and having a $100 toe paint job at the salon all using borrowed money that will never be repaid isn't gdp.

I think US GDP will drop to $10 trillion or less.



To: gg cox who wrote (32523)4/8/2008 2:52:11 AM
From: elmatador  Read Replies (1) | Respond to of 219610
 
Perspective on US GDP: 30% of corporate profits -last year before August- was from Financial sector. Financial sector being what it is, do an extrapolation: how much of the US GDP could be shaved off to get the real GDP?


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