Comment by bawis
The old problem with metrics like GDP, is that they consider the whole but not the parts, it is kinda saying that I and Musk have billions in wealth, but I am in debt.
The old problem with metrics like GDP, is that they consider the whole but not the parts, it is kinda saying that I and Musk have billions in wealth, but I am in debt.
> The old problem with metrics like GDP, is that they consider the whole but not the parts, it is kinda saying that I and Musk have billions in wealth, but I am in debt.
Does this mean you also think that "the (US) economy is tanking" OR do you agree with me that the economy is NOT tanking?
See my other comments in this thread that surfaces other metrics like: debt burden ratios, repayment behavior, GDP per person at market exchange rates, Adjusted for price differences, and Adjusted for prices and hours worked.
I'm not saying that Americans aren't under more economic strain than a few years ago (pre-pandemic), excluding 2007 - 2008.
However, I think if someone is going to claim the economy is tanking OR that Americans are fast becoming destitute or something extreme like that, you gotta give some quantitative data to back up that claim.
The new problem with GDP is we can no longer trust government numbers.
1 - https://www.pbs.org/newshour/politics/trump-seeks-to-fire-bu...