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That's only "real" in that it's inflation adjusted. It's still the same balooney that GDP is inherently. What this "growth" is based on is the same rent-seekin
by coldtea 1y ago
That's only "real" in that it's inflation adjusted. It's still the same balooney that GDP is inherently.
What this "growth" is based on is the same rent-seeking and money printing credit I mentioned. And of course even people getting paid to dig and then fill in holes would increase the GDP.
My "dismal results" refers to actual state of labor market and quality of jobs, actual purchasing power, actual production, actual innovation, actual infrastructure, actual quality of life changes, etc. Not GDP or stock market or how rich the 0.00001% gets.
- gruez 1y ago>My "dismal results" refers to actual state of labor market and quality of jobs, actual purchasing power, actual production, actual innovation, actual infrastructure, actual quality of life changes, etc. Not GDP or stock market or how rich the 0.00001% gets. How convenient that your preferred metrics can't objectively be measured and basically give you free reign to define the results however you want! It's the "community adjusted EBITDA"[1] of economic metrics. [1] https://qz.com/1685919/wework-ipo-community-adjusted-ebitda-and-other-metrics-to-watch-for https://qz.com/1685919/wework-ipo-community-adjusted-ebitda-...
- coldtea 1y ago>How convenient that your preferred metrics can't objectively be measured "Would you believe your own lying eyes over the statistics based on a KPI widely understood to be a crap metric?"