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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (111831)	3/28/2012 8:00:58 PM
From: RetiredNow	Respond to of 149317

Ted, you really miss the point. If our GDP growth is 2% of $15 trillion, then that's about $300B GDP growth. But if our government is spending $1.5 trillion more than it takes in and the deficit is financed through debt paid for with printed dollars, then that $300B in growth, really is more like a $1.2 trillion contraction. So nominal GDP growth = 2%, or $300B, but real GDP growth = -8%, or -$1.2 trillion. Another way to look at this is if you have 1 piece of pie and I cut it into 3 pieces, keep 1 for myself, and give you the remaining 2 pieces, I'd bet you'd claim you increased your wealth by 100%, when in reality you have lost 33% of your wealth. That is what is happening in this country, but you seem to be fooled by all the illusions of wealth that the money printing Bernanke is spinning. Real wealth and real GDP growth is created from savings and investment of capital into productive assets. Printing money or deficit spending to goose the growth figures is not the way to create real or sustainable growth. Bernanke is crucifying the savers in this country that typically generate the savings and capital for investment, while at the same time he is printing money. He is giving the US' real economy a one two punch and the real economy is reeling. It's time for him to be replaced with someone who knows what they are doing. Helicopter Ben is a one trick pony and he is very destructive to our long term prosperity.