GDP GREW 5.7% IN 2021,BEST YEAR SINCE 1984

When inflation drives the price of everything up, the exact same amount of production has higher prices, thus the GDP value appears to have increased.
For example- the materials required to build a house increased over 30% in cost last year. Same house, same materials, same quantity. Plus 30%.
The difficulty in getting things, in getting things done and the empty shelves where things you want used to be- say the actual quantity of domestic production has fallen well behind need.
The fact that the trade deficit (the difference between what we import compared to what we export) has gone past $1 trillion for the first time in history tells you that we are buying more- and producing less in America.

Increase in the cost of living while the quality and products of living IS NOT a growing economy... It's growing INFLATION; diminishing production. These are not good things- they are the earmarks of terrible policies and economic disaster.

The Biden administration distorts every metric to make it appear things aren't really going to hell in a hand-basket.
AKA- they lie to you about it, and treat you like mushrooms- keep you in the dark, feed you BS.
You're smart enough to see this. What it takes to recognize and admit it requires something else... don't know if you have that or not.

 

When the price of staple goods have escalated at the top of the rate chart, the dollar's value is only as much as the necessities it will buy. About 1/2 a roll of TP, at this moment.

 

The figure takes inflation into account. You smart enough to see this?

 

You'll have to use both sides, or use the "Russian method". Me, I still get full roll.

Russian method

 

During WW2 they resorted to squares of cut up newspapers for ass wiping even in public restrooms.

 

Are you smart enough to know that's BS?

Smart enough to know your grocery shelves are substantially under-stocked, but prices are all up?
Do you think that shortages, (like that of toilet paper a while back) come from massive increases in consumption?

Smart enough to believe what you see?

I run a small international business. Items we have used in our production for 20 years without gaps in availability or noteworthy price increase are now 3 months behind in promised dellivery. Prices- X2 or more.
Overall demand of these things isn't up but the items like raw materials and dependable labor to make them are hurting- so produced supply is down. The prices have to go up, because the cost of overhead and production are rising and must be recovered from a smaller volume of good produced.

You believe what they tell you- I'll believe what I see in real time. I could be wrong; I've only been running businesses for 53 years.

 

Of course you can be, especially when you think that has something to do with the fact that real GDP accounts for inflation.

Are you confused about the topic?

 

GDP and "Real" GDP numbers are different. What's more- the manipulation of numbers by the government to avoid the heat is rampant across the boards; only a fool would believe what they tell you is unbiased and legit. It's like when your engine is knocking and you take it back to the dealer who worked on it, and he says- I don't hear anything..... So you decide it's all in your head??

There is no credibility in these numbers because they come from an administration that is trying to avoid bad press so desperately that BS is the path of choice.
In business jargon- they're "Cooking the books". Altering appearances to buy time to save their asses from reality of their gross incompetence- and compounding the problems.

When a system is in it's parameters of performance, it works. When it's not working- something is wrong, and saying it's not only makes matters worse. There's never been a government in my life that has been as unscrupulous, self-serving and deceiving as this one- and I remember Harry Truman.

 

With deaths exceeding births in many of our states the prospects for the future of our country and growth of businesses diminishes unless we can attract more immigrants we are a country in deep trouble just like many others all over the world. Shrinking populations are not the way to attract business.

 

Rumor has it the Tibetans do the same, only without the square of TP. Being 'right handed' takes on a whole new meaning....

 

Zimbabwe's GDP percentage growth is relative to their overall GDP size, not their inflation. This is also why they had an 11% decrease in GDP in 2020 compared to the US's 3% decrease. Percentages are relative to the size of the overall number, you don't need to be an economist or a mathematician to understand this

 

The number is "Real" GDP, and it accounts for inflation.

If you don't want to see it as credible, then so be it.

 

That's messed up in multiple ways.

 

That has been true since the first coins were minted and the first dollars were printed.

So, do you have a significant point to make?

 

Prices never go back down, and that has been true since the first coins were minted and the first dollars were printed.

By virtue of that fact, your point is moot.

 

Neither is giving your country away to people who don't really want to support the nation we believe in.
Our population didn't shrink last year, but the growth was insignificant. Bear in mind- overpopulation also presents problems.

I think perhaps it would be wiser to learn to live within a reasonable population density; not rely on continuous growth to keep the system from falling apart; increasing the burden at the same time.
Better management- both individually and as a society and government required. We have hunting seasons for things like deer when we find their population is exceeding the capacity f their environment, actually becoming detrimental to their overall fitness and the number who can thrive in that environment. If you are a rancher- you don't put more cattle in pasture that it can support, because they will die off. Has to be a balance, and we should recognize it.

The turmoil, the difficulties of living in a rational, positive situation, diminishes the desire to have families. If I were a young adult- I'd certainly question the wisdom of bringing children into the chaos of today's America.

 

Thanks for posting this figure. So, let's overlay the time Trump was in office, indicated by the black rectangle:

Two observations:
1) Trump's trajectory before covid was the same as Obama's.
2) The disparity between retail sales and payrolls happened under Trump, not Biden.

If an alien from outer space would look at this graph, knowing nothing about who was president when, they'd be unable to pick the presidential transitions, but they'd be easily able to pick when covid happened.

If you want to beat the "Biden bad" drum, this is not the graph that supports your agenda.

Note in edit: The black rectangle should be shifted slightly to the right, but that doesn't change the conclusions.

 

No, it's not moot. Attempting to dismiss it as 'moot' pretty much says that all those harmed by this inflation is of no concern to you.

I don't function like that, and I never will.

 

The U.S.dollar is as strong as it has been in quite a few years.

 

That's the best you got? It would be better if Biden had done nothing as far as "stimulating" the economy and handing out fiat money.

 

As long as Biden keeps pumping money out it will not lower anything meaningful. Wages are not keeping up with the inflation

The increase for SS was 5.9% not 7%. And fixed incomes like annunities and monthly withdrawals from retirement accounts to suppliment SS.

 

Pumping money out (unless production is keeping up with the new money supply) doesn't increase real GDP. It lowers it. Real GDP is rising. Pretty sure real wages have been growing as well.

 

Who's doing the accounting?

 

The BEA . . . you know . . . the source for GDP metrics. If you have some alternate numbers, produce them. You were fine with BEA numbers when Trump was president. Sounds like you guys are just looking for excuses to pretend that the sky is falling.

 

That's a pretty good increase + stock market went up 20%.