GDP is a worthless measure of snow economy nowadays.
Literally, a government prints a trillion and spends a trillion and !poof! - a trillion is added to the GDP.
Not so. GDP figures are based on the inflation adjusted net value of economic activity, not on the money supply.
Which is why the EuroWeenies are deucing their drawers like a Biden over what's going to happen on July 22nd, this Friday.
Will Nordstream 1 come back on line? TOTALLY irrelevant and inconsequential.
Ask the Ukes living in the ruins of their short-lived country.
“GDP is a worthless measure of snow economy nowadays. Literally, a government prints a trillion and spends a trillion and !poof! - a trillion is added to the GDP.”
I think you have a great point. Dollar to dollar comparisons of economies might be useful, but to say today we have X dollars compared to yesterday is ridiculous since we inflated our economy artificially.