Posted on 04/26/2024 6:52:18 AM PDT by ChicagoConservative27
If paychecks went up X, and people spent X-c, then GDP should go up by at least that much.
I mean foundationally I agree. I don’t like GDP as a measure of wealth and prefer when we used GNP. And if you are looking at GDP the bare number is worthless and I notice politicians don’t want to talk about GDP per capita.
Have a friend who grew up in Belarus. He would get up at 2 to stand in line for bread. Freaking bread!
They didn’t know how to make tortillas.
I can see it. But many Americans can’t. It is outside their imagination.
We make our own
“you don’t eat GDP, your paycheck matters most.”
When people are running up credit card debt to be able to put food on the table, the whole economy matters.
When the federal government is borrowing, printing, and spending money beyond what the GDP can sustain it matters a lot.
that makes no sense. You cant eat your paycheck either.
Marie Antoinette Bernstein
If the food were shoplifted, GDP wouldn’t go up at all.
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