Saturday, November 3, 2012

Economists should be focusing on Sustainable Growth instead of GDP Growth

Marc Faber : A political system controlled by an ignorant electorate that is manipulated by a dishonest and controlled media that dispenses propaganda on behalf of a corrupt political establishment can hardly be the path to lasting prosperity. In fact, I am surprised that economists continue to discuss GDP growth (usually in real terms), when they should be focusing on sustainable growth. Let me explain. Since 2000, US government debt has increased from US$5 trillion to over US$16 trillion. Over the same period, nominal GDP is up from approximately US$9.5 trillion to US$15.5 trillion. - in dailyreckoning

1 comment:

  1. Growth in GDP is measured by the increase in personal and government debt. This is just growth in activity financed by money that does not really exist. Those who print the money get all the benefits.

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