per capita GDP numbers : bogus 4327

GDP increases rapidly as cheaper goods are imported because the mark up of prices adds to GDP more than the amount sent out of the country. e.g. The American corporation pays $0.25 for the widget and sells it for the same $1.00 that it would have paid for a locally produced widget. Many people out of work that lived from hand to mouth before the factory closed will still live hand to mouth on unemployment and savings until they find a new job. That new job will support them and their spending but it will not allow any savings.

Meanwhile, the excess profit must go SOMEWHERE and be spent SOMEWHERE. We have more Leer Jets, and more Hummers, and more yachts, and more mansions and the like.

The money needed to bridge the gap for those who lost their jobs is borrowed (see deficit spending) or it comes from savings. But the hand to mouth workers still spend as before because they can't spend any less and stay alive.

No. There are many who are not brainwashed Republican suckups. But guess who gets to be on TV, and who gets talked about in the corporate owned media. This is NOT a conspiracy. It is just each looking out for his own best interests.

Please consider that I have already said he is right for reasons other than his numbers. My point was simply that the multiplier is irrelevant regardless of his numbers.

Did that before I posted the last time. As I said: correct conclusion but wrong numbers.

No.

The conclusion is correct. The numbers are not.

Correct, as I said above.

Actually, the picture says that taxes paid, just like investments made, and wages paid does not DIRECTLY effect GDP. We WERE talking about the picture, were we not?

But the idea that taxes reduce savings and investment is incorrect: It depends on what is done with the tax proceeds and on what is taxed. The presumption of the Republican neoeconomist is that government cannot possibly "invest". And with a Republican government in place that is, of course, a self fulfilling prophecy.

The claim that this metric is indicative of economic well being is bogus. The latter day neoeconomist trumpet GDP while ignoring distribution and overall well being.

-- "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

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