What is GDP: Real or mostly Imaginary?
If you give me $1,000,000,000,000 (one trillion) whether in cyber dollars, pounds, yen, euros, rubles, or yuan…and I use these units for speculation, stocks, bonds, or mere savings…did I create any WEALTH? Our so-called GDP (gross national product) is supposed to be a measure of real wealth produced in our country. Is it? Do mere cyber numbers (given by our banksters to various clients…now in the trillions) show that real WEALTH has been produced? Think about the concept which we call QE!
Does QE created by Ben or Janet lead to real WEALTH (goods)?
Banksters will create this QE from their inner consciousness and then type numbers into their cyber account…and then they distribute these cyber units to clients who do not produce any real WEALTH. Yet the numbers get counted as GDP or growth in our economy. Is this corrupt accounting or what? What is real wealth in economics? The goal of economics is to produce real wealth for the markets. But what is it? Are cyber numbers created by our Central Banks representations of real wealth? Think!
Real wealth is physical, material, composed of matter/substance!
Real wealth comes mostly from the soil of planet Earth. Think of farming, mining, and manufacturing. Products are produced from the land and these products enter our markets as REAL wealth. Wealth is material and physical. Food items are real wealth! Clothing items are real wealth! Shelter items are real wealth! Transportation items are real wealth! All this real wealth is material and physical (composed of matter and substance). But what are mere ‘numbers’ created within our cyberspace computers? Are these ‘numbers’ real WEALTH?
Our measurement and accounting systems today are totally corrupt and misrepresentations of REALITY. Much of what we call GDP (gross national product) is ‘GROSSLY’ nothing and nowhere! We create ‘numbers’ (such as QE) in our computers and lend or distribute these ‘numbers’ to clients who produce NO REAL WEALTH. We then ‘count’ these numbers as real wealth to deceive the public and most economists. The entire measurement process today is corrupt and mostly meaningless! Think about what we are doing within our Bureaus of Economic measurement!
All the ‘trillions’ of QE and other Loans which we create and which do not lead to real production of goods (real wealth) are bogus creations of ‘imaginary’ NUMBERS. This so-called GDP measurement is bogus and corrupt! Think about all the cyber numbers which we create and distribute to clients who PRODUCE nothing! Yet all these ‘numbers’ get counted as real wealth in our accounting records! Our current GDP is some $17.8 trillion and counting. Witness at: http://www.usdebtclock.org. This number is supposed to measure (the value) of all final goods and services produced within the borders of the USA. Does it?
The problem today is that our economists do not understand the difference between ‘number’ wealth and ‘real’ wealth. Numbers in our computers which get counted as GDP and do not lead to real production are NOT representative of growth and/or prosperity. The ‘value’ of goods is what our economy is supposed to measure. Value emerges as goods are created and offered in the marketplace. Value is what we are supposed to measure AFTER some good is produced. Final goods (let’s exclude services) are real material products which we can witness in our marketplace. Go into Wal-Mart to witness real goods!
Today, we have two measures of economic growth called GDP and GDI. Both gross domestic product (GDP) and gross domestic income (GDI) are measurements (supposedly) of VALUE produced! The VALUE of production is what economics is all about. Capitalism is based on the philosophy of MATERIALISM and VALUE. We produce products from the land, water, air and then we ‘value’ these products in the marketplace. This VALUE then creates our GROSS NATIONAL PRODUCT. Today, all our measurements and accounting are corrupt as our Congressional Budget Office is not differentiating between REAL and IMAGINARY! Think about this corruption at the highest levels of economics! I am: https://kingdomecon.wordpress.com.
P.S. Historically, the ‘value’ of goods produced was calculated (measured) PRIOR to lending money. I produce my wheat, corn, hogs, silver, gold, cotton, iron, oil, coal, etc. and then these goods are ‘valued’. I then can get my loan and sell my products in the marketplace. Today, our banksters do not seem to understand ‘value’ or ‘goods’! What has happened within our economic profession? Is this profession corrupt and deceptive?