The Great Con that is consigning the USA to inevitable third world status - the ignorant and inept US kakistocracy
This article describes all of Europe, the UK, Japan and many other coutries - the USA is one of many, if not most, countries.
I have often said that GDP is a measure of output, not increases in income or profit and that it does not reflect “health” in the economy. \GDP takes no account of debt incurred or living standards.
Here Is a link to an article that eposes the fallacy and why libtard demoNrat socialist welfare statists the world over engage in Newspeak that pretends the funding of fiscal deficits and inexorable accumulation of debt = income. It doesn’t.
Check out the explanation of the false logic used by moronic politicians on all sides – who, like the idiot falling toward the ground keeps saying “so far, so good, so far so good”.
The Great Growth Hoax - The Daily Reckoning (h/t Zerohedge.com)
Here’s a couple of snippets quoted in the article from Peter St Onge.:
“Fresh GDP numbers came in and it was a blowout. The kind of blowout that only a $2.7 trillion government deficit can buy while the private economy crumbles around it. Another couple blowout GDP reports like this and Americans will be living under an overpass.”
“In the past 12 months the federal deficit increased by $1.3 trillion. Yet we only got half that in GDP — about $600 billion. In other words, everything else shrank. It’s even worse for that brave and stunning Q4 — there we got just $300 billion in extra GDP for — wait for it — $834 billion of new federal debt.”
The Federal government has run up 34 trillion bucks in debt from unaffordable promises by politicians seeking election by buying votes. The interest from decades of profligacy is now running (assuming 4% rates) at close to 1.4 TRILLION bucks a year. Pretty soon it will gobble up half of Federal income taxes. Check out openthebooks.com for the waste from the behemoth that is the Federal bureaucratic swamp that administers the pork.
Transparent Government Spending | Open The Books
Here’s a little more from the article:
“Essentially, [GDP is measuring] the pace at which we’re going Soviet, replacing private wealth with government waste.
It Costs $2.50 to Generate $1
In his interpretation of the data, we are destroying wealth at the fastest rate since 2008. An analysis by Zero Hedge echoes the same thought:
While Q4 GDP rose by $329 billion to $27.939 trillion, a respectable if made-up number, what is much more disturbing is that over the same time period, the U.S. budget deficit rose by more than 50%, or $510 billion.
And the cherry on top: The increase in public U.S. debt in the same three-month period was a stunning $834 billion, or 154% more than the increase in GDP. In other words, it now takes $1.55 in budget deficit to generate $1 of growth… and it takes over $2.50 in new debt to generate $1 of GDP growth!
To further the analysis, and doing the math:
Every dollar in GDP growth cost $1.69 in” new debt, and also means that every new job cost future generations of Americans $957,100.48.
A million bucks to create a single job. The equivalent of paying someone 100,000 bucks a year for ten years EITH BORROWED MONEY. What kind of job I wonder!!!
The numbers include the costs of funding criminal migrants, the subsidies for obsolete “renewables” technology and other “Net Zero” policies contained in the Inflation Reduction Acy. Then of course, there are the forever wars to subjugate and enforce the will of politicians who are inevitably hated where the wars are fought and by other countries looking on.
This is a feature of ALL socialist governments – high taxes, high spending with any shortfalls to living beyond the means of profligate spending policies made up with copious amounts of debt over decades.
To quote a few British politicians.
“The trouble with Socialism is that eventually you run out of other people's money.”
“Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.”
\Yep, and a world of fear and excited misery enforced by the jackboot as well, when people object.
Onwards!
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Its been predicted by several that 2026 may be the pivotal year for the US. Even now, on Twitter, one of the same posters from zerohedge above? mentioned the current US economic numbers look good due to govt. spending! Other than that, US economic growth appears anemic. This needs more time for a closer, detailed look.
And while all this goes on: the rich get richer and the poor poorer!
They steal from us to further enslave us!
"You will own nothing, and be happy" ~ Klaus Schwab