Where is the US economy headed?

@hawkeye10,

I agree to a great extent, but numbers are important in the US where most Americans have lost their numbers in wages and benefits.

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@cicerone imposter,

cicerone imposter wrote:

I agree to a great extent, but numbers are important in the US where most Americans have lost their numbers in wages and benefits.

The american people are and have been for years hurting a lot more than the number keepers claim.....do you remember back to the start of the Great Recession when for about six months the american people said that the economy sucked, and the number keepers said "everything is very close to OK, the people are imagining things"??? That only worked for six months, then the number keepers had to break down and say "OOPS, a recession started 6 months ago, our bad"

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@hawkeye10,

That's because all aspects of ecomics is based on what has transpired before, and we see things in relationships based on observation and personal experience.

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@cicerone imposter,

cicerone imposter wrote:

That's because all aspects of ecomics is based on what has transpired before, and we see things in relationships based on observation and personal experience.

No, it is because a great many keepers of the numbers are number theorists who have not the first damn clue what is going on in the society, all they know is the numbers that their equations spit out at them....they are sure that they know what those numbers mean re the economy and re real people, but often they do not. Just as the church is not the building but is what goes on in the building the economy is not the numbers but is what the numbers are supposed to represent. We have a whole generation of American Economists who fail to understand what the economy is, and this has become a serious problem.

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@hawkeye10,

Very poor analogy; the numbers are based on total sales of goods and services for the period stated with whatever necessary revisions they deem necessary to make them as accurate as humanly possible.

The GDP for the US is over $14trillion dollars. Thaat's almost impossible to refute - but, maybe you can.

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@cicerone imposter,

But it is misleading from an economic point of view because it doesn't include all the voluntary actions people perform for others or for themselves and only counts those that are charged for.

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@spendius,

All true, however the biases you may find in (say) the cpp GDP data vary quite slowly over time, and changes in these indices do indeed represent significant changes in the central tendencies of related economic trends. There are always large deviations from the average in the population, and lots of complexity that is not included in these indicies. The economic activities of 360 million people are not easily described with just a few numbers.

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Where is the US economy headed?
Looks like a revolution to me!

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@georgeob1,

Quote:

All true, {{thank you George}} however, the biases you may find in (say) the cpp GDP data vary quite slowly over time, and changes in these indices do indeed represent significant changes in the central tendencies of related economic trends.

What central tendencies do you have in mind?

Would you describe them as a general increase in the piles of shite answering to the frenzied desire, whipped up by Media, for manifestations of invidious consumption, and noses being pressed more firmly into the grindstone to satisfy the desire which has, in the nature of things, no known limit this side of the infinite.

"Parkinson's Law works everywhere." Mikhail Gorbachev.

Why is the First Lady given large amounts of money to give the White House a makeover in line with her current aesthetic tastes when there will be nurses working in Africa who are only too glad to sleep in a bed someone else has just vacated? Where's the much vaunted equality in that George considering your admitted fondness for children. Or even the First Lady's admitted fondness for children.

Shouldn't she make do with what Laura left and send the dough to those nurses?

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@spendius,

If the function of the institution of the First Lady re-doing the White House is to put forth the tone of the new Administration then one might say it certainly succeeds.

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@spendius,

There's always been underground economies in almost every culture if not all. To believe otherwise is ignorance, but there is no way to measure it. What the government produces are "consistent" to that extent. Do you beat your wife? How do expect the government to measure that - you ignoramus!

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@spendius,

spendius wrote:

Shouldn't she make do with what Laura left and send the dough to those nurses?

I can only imagine the apocalyptic soft furnishings favoured by a mind so twisted it finds Dubya attractive. I don't expect any sane person to put up with that, especially one who has his hand on the button.

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You do not have to be a democrat or a republican to be a patriot!

Tea party members join progressives in the second US revolution!

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@reasoning logic,

Quote:

You do not have to be a democrat or a republican to be a patriot!

Tea party members join progressives in the second US revolution!

You do need to be a fool and willing to allow the people like the Koub brothers and Rupert Murdoch to used you as a tool against your own best interests.

Of course such a movement could end up biting those gentlemen in the rear as it did to some degree in the 1930s Germany.

We do however seems to be approaching a need to take strong actions.

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@reasoning logic,

By the way was I the only one who on hearing this speaker started to look for a small mustache on his upper lip?

The Boys from Brazil part two.

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@cicerone imposter,

Quote:

Do you beat your wife? How do expect the government to measure that - you ignoramus!

I don't and I didn't say or imply that I did. All I said was that the crude GDP measure is misleading in relation to genuine economic activity. It excludes many things which are genuinely economic activities and includes many things which are entirely psychological.

The makeover of the White House decor and catering for your restless urge to "see the world", as if your limited vision could ever get anywhere near that, are psychological in character and not economic.

It's also odd that you choose a man beating his wife to make your silly point when men do many economically useful things for their wives at least once a week.

I'll admit that the First Lady can't redesign the roof of the White House and have a glass ceiling fitted but it's early days yet.

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@izzythepush,

Quote:

I can only imagine the apocalyptic soft furnishings favoured by a mind so twisted it finds Dubya attractive. I don't expect any sane person to put up with that, especially one who has his hand on the button.

That's a non sequitur, a meaningless digression and a self indulgent blurt and thus a species of Ignore.

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@spendius,

spendius wrote:

a self indulgent blurt

Glass houses and all that.

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@izzythepush,

What has Dubya got to do with wasteful expenditure in the service of ego gratification which is the subject I was discussing. I only offered Laura because she was the most recent turnover. I daresay she did the same thing. And Mrs McCain would have done too.

Mine was no blurt. Your's definitely was. It's the equivalent of saying that ice-cream is no good because Hitler once had one.

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@spendius,

spendius wrote:

Mine was no blurt. Your's definitely was. It's the equivalent of saying that ice-cream is no good because Hitler once had one.

When did Hitler have an ice cream?

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Where is the US economy headed?

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