Thursday, May 27, 2010

GDP is a fraud

You know what GDP is? It is supposed to be the market value of all final goods and services made within the borders of a country in a year.
Sounds straightforward right? And the u.s.a. gdp was reported as 14.6 trillion for 2008.
The u.s. government reported a budget for 2008 of 2.9 trillion. That doesn't count the money robbed from the social security "lockbox" either.
Anyway, the GDP includes all government spending.
Does that make any sense?
How does robbing somebody and then spending the money realistically add to GDP?
To include the loot stolen at gunpoint from u.s. citizens, and then spent by the gun toting thugs as part of GDP is utterly ridiculous.

In reality our GDP is much lower than claimed and our debt already exceeds 100% of that. The collapse is coming.

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