GDP lagging

[Austrian Economics]

GDP is a completely phony means of measuring economic growth. It merely adds up all the spending in an economy. So if the government borrows to spend on subsidies and grants to money-losing boondoggles, GDP goes up. GDP does not differentiate between spending that earns a return on invested capital and spending which destroys capital.

[shtferbrains]

Believe i read years ago that certain large foreign investment funds canned Canada. Too slow, regulated, disorganized, over governed, over taxed.

General public oblivious.
Trudeau so close to his dream.

There are a variety of ease of doing buisness index's.
According to the one on wiki in around 2007 USA was #3 and Canada #4 but more recently USA dropped to #6 with Canada dropping to #23.
It appears when Mr Treudau came in 2015 we improved for a couple of year but about the time that IMHO Justin started running the country we started dropping like a rock.
Bad enough being much lower than the USA but more concerning is that we seem to be happy or oblivious of the fact we are going the wrong way.
I assume Justin doesn't even know there are indexes as he seems to consider virtue signaling as the key to attracting new industry.

I no longer consider Wiki as a reliable reference as the woke segment seems to have taken over edits.

[Hamloc]

I was just reading an interesting article by Jack Mintz in the financial post. It had a few interesting numbers that apply to this topic. In 2015 the GDP per capita in Canada was $50400 USD. That same year in the U.S. it was $52000 USD. By 2019 in the U.S. it had risen to $55900 USD. While in Canada in 2019 it had dropped to $48617, the same level as 2007. Justin Trudeau didn’t manage our economy near as well as Donald Trump in the U.S., and I was not and am not a Trump fan. Imagine our productivity is below 2007 when you consider inflation, very sad!

[AlbertaFarmer5]

GDP explained.
I collect $100 of CERB from the government for not doing or creating anything.
I pay that $100 to Jazz to do my nails.
Jazz pays that $100 to Hamloc to pick out the colors for the renovations to his Yoga studio.
Hamloc pays that $100 to Austrian Economics for a perm and color.
AE pays $100 to ajl for a leg wax.
ajl hires Wilton Ranch to polish his Dodge Neon for $100
Wilton hires Burnt to hem his new dress for $100
burnt pays shtfrbrains $100 to babysit his kids
Who pays blackpowder $100 to choose curtains for his powder room.
Who spends it at Walmart on Chinese junk.

We have just added $1000 to GDP, without creating or value adding, or exporting or extracting anything, in the end it was a transfer to a foriegn country, and every step of the way there was leakage.

GDP is completely meaningless.

[jazz]

GDP is completely meaningless.

Hence Canadas largest contributor to GDP is financing and selling houses to each other.

[AlbertaFarmer5]

I think it’s a good thing I didn’t make that list. It has been a while since I had my nails done.

I highly recommend having your nails done. Sharpen the points, straighten the shanks, buff the rust off, and regalvanize.
Jazz is a real professional at it, you won't regret it

[sumdumguy]

The GDP without robust grain movement should be interesting.

[burnt]

GDP explained.
I collect $100 of CERB from the government for not doing or creating anything.
I pay that $100 to Jazz to do my nails.
Jazz pays that $100 to Hamloc to pick out the colors for the renovations to his Yoga studio.
Hamloc pays that $100 to Austrian Economics for a perm and color.
AE pays $100 to ajl for a leg wax.
ajl hires Wilton Ranch to polish his Dodge Neon for $100
Wilton hires Burnt to hem his new dress for $100
burnt pays shtfrbrains $100 to babysit his kids
Who pays blackpowder $100 to choose curtains for his powder room.
Who spends it at Walmart on Chinese junk.

We have just added $1000 to GDP, without creating or value adding, or exporting or extracting anything, in the end it was a transfer to a foriegn country, and every step of the way there was leakage.

GDP is completely meaningless.

An effective, unforgettable illustration, indeed!

But spelling can make or break the message - I said I sow, not sew.

But it's a great thread and your artistic abilities got me in stitches.

Now - my mother was a tailor, sewed my new blue jeans...

[rumrocks]

An effective, unforgettable illustration, indeed!

But spelling can make or break the message - I said I sow, not sew.

But it's a great thread and your artistic abilities got me in stitches.

Now - my mother was a tailor, sewed my new blue jeans...

Moms always come through.

[Hamloc]

GDP explained.
I collect $100 of CERB from the government for not doing or creating anything.
I pay that $100 to Jazz to do my nails.
Jazz pays that $100 to Hamloc to pick out the colors for the renovations to his Yoga studio.
Hamloc pays that $100 to Austrian Economics for a perm and color.
AE pays $100 to ajl for a leg wax.
ajl hires Wilton Ranch to polish his Dodge Neon for $100
Wilton hires Burnt to hem his new dress for $100
burnt pays shtfrbrains $100 to babysit his kids
Who pays blackpowder $100 to choose curtains for his powder room.
Who spends it at Walmart on Chinese junk.

We have just added $1000 to GDP, without creating or value adding, or exporting or extracting anything, in the end it was a transfer to a foriegn country, and every step of the way there was leakage.

GDP is completely meaningless.

In Justin Trudeau’s world of the woke you have just described his idealized economy of the future, one he wants every Canadian to aspire to!!!