Loading ...Do any of you guys remember me YEARS ago complaining about the phony GDP numbers? It stands for gross domestic product. Before globalization it was called GNP, gross national product. Nationalism and patriotism was frowned upon with globalization. Like racism on a global scale.
Putting retail sales (of imports) in the Gross Domestic “Product” index was absurd, and provided a constant false and misleading impression of growing USA prosperity, that has net declined since 1975. Check out this headline below…..
>>Living Standards Better Growth Gauge Than GDP, Davos Forum Says<<<
Part:
“Developed and developing countries alike should emphasize living standards over absolute growth as the best measure of economic performance, according to the organizers of the annual World Economic forum.
“Most countries are missing important opportunities to raise economic growth and reduce inequality at the same time,” the WEF said, saying that measurements such as life expectancy, productivity and poverty rates should be the priorities for economic policy making to prevent further declines.