According to FSK’s Guide to Reality, the real GDP is actually decreasing. On the grounds that our current measures of inflation are biased and understate the problem, he uses the price of gold as standard, and finds that the GDP has in fact not risen to its 1990 level, and has been decreasing significantly since 2000.
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Up here in Canada, it was reported that our GDP, as they normally measure it, dropped 7.3% ( Isaw it on the National last night but can’t find it on the net now…)
Yeah, things are getting bad.
The GDP has nothing to do with actual economic growth, so why are we supposed to care?
Pingback: Attack the System » Blog Archive » Updated News Digest May 3, 2008
Excellent blog! Very interesting themes. I will regularly read it.