While the U.S. Bureau of Economic Analysis (BEA) reported a robust 4.3% annual increase in third-quarter real gross domestic product (GDP) on Tuesday, economist David Rosenberg is calling the headline number a “fugazi.” The ‘Fugazi’ Factor The president of Rosenberg Research argues that underlying economic weakness is being masked by government spending and depleted savings, calculating “true” growth at a meager 0.8%. The official BEA release shows widespread gains, with real GDP accelerating fr
Its does if thats how a body measures growth. Personally i think measuring things with money values is not good practice. Metric tons, calories, labor hours, etc all better imo.
Right, but if you buy $100 of iron from a smelter and then make it into $100 of lucky horseshoes, it doesn’t really mean there was $200 of growth.
Its does if thats how a body measures growth. Personally i think measuring things with money values is not good practice. Metric tons, calories, labor hours, etc all better imo.
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These aren’t horseshoes for horses, they’re magic horseshoes for good luck. You’re supposed to hang them on your door!
Where’s the growth? As far as I’m concerned, $100 of iron just got wasted, nevermind all the labor that also was wasted.
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