per capita GDP numbers : bogus 4325

That is irrelevant. The GDP looks wonderful as the "owners" of the means of production get richer and the productive members of the society get poorer. But this is NOT shown by Mr. Keating's stuff.

But only refered to in this observation regarding real investment in real capital.

Correct, but for reasons other than what Mr. Keating is attempting to portray.

IOW! Can you find any brainwashed Republican apologist that would admit the fallacy inherent in viewing GDP as a barometer of the real economy?

I would be VERY interested in Krugman's take on what is presented here. From what I see at:

Tim is right regardless of the money multiplier. That multiplier is a constant in the comparison and serves only to expand the difference. Given a multiplier of 1 he is still correct in saying that the GDP looks very good although domestic saving and investment is negative and in spite of the fact that all the actual wealth is flowing into the pockets of the rich and into the hands of the Chinese.

I agree with it based on your site telling me how the GDP is calculated. My credentials are that I know how to read and how to add and subtract.

Otherwise known as AUTHORITY figures.

As an alternative to trying to rely on divergent AUTHORITIES you might just use your own brain.

The little picture cited by alexy says that the money sent abroad is subtracted from the total GDP. That would tend to say that GDP would get worse as the trade imbalance grows and that makes perfect sense to those who would want to use GDP as a sign of American economic health.

But we also see that the entire dollar spent on the goods adds to GDP regardless of weather Americans borrow the money or earn it by being productive. We also see that the money created by the Bush Neoeconomic nincompoops and pumped into the economy to allow all this borrowing accounts for 20% of the rising GDP while taxation has NO effect whatsoever on GDP.

Not only are the GDP figures bogus due to erroneous measurements of inflation, but the entire concept of GDP as a measure of economic health or success is total fabricated horsepoo.

And I can see this BECAUSE I have NOT been brainwashed by the "schools" of neoeconomics.

Just read your own cite, Bozo.

-- "I know no safe depository of the ultimate powers of society but the people themselves; and if we think them not enlightened enough to exercise their control with a wholesome discretion, the remedy is not to take it from them, but to inform their discretion by education." - Thomas Jefferson