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User Info Trump: Yeah, I Mean It; entered at 2017-03-16 08:14:33
Tickerguy
Posts: 148189
Registered: 2007-06-26
Quote:
You say it has added to gdp. I will argue that with you. To steal money from one person doesn't add to gdp. It's just a wealth transfer.

I'm not the one who defines how GDP is counted; in Leverage I argue for an SI-unit based unit of account (e.g. Joules of energy evolved or consumed) because you can't define something in terms of a variant (number of dollars) without algebraically removing that OR you get a meaningless result.

Since the definition of a recession (in economics today) is two consecutive negative GDP prints, and the definition of a Depression is a >10% top-to-bottom GDP excursion it is clear exactly what fixing health care will do in terms of contemporary economics. There's nothing you can do about the collision between what has to happen and what CNBS and the entire cadre of "economists" will call it. It is what it is.

However, what's LIKELY to occur in terms of trajectory is similar or identical to what we had happen in 1920/21 -- which nobody even counts as a Depression (the two were 1873 and the 1930s) despite the fact that 20/21 was both the deepest and fastest decline in GNP (at the time they counted it slightly differently than today.) Why does nobody even TALK about that particular event? Because the recovery was also the fastest and most-energetic ever recorded -- in fact, the greatest year-over-year output gains ever in the history of the nation were notched during that time.

It will not suck for long and we will be FAR better off as a country once we do it but for those who are part of the racketeering now it will suck for certain during the time the realignment is taking place, and the headlines will be SCREAMING "Depression!" as well.
2017-03-16 08:14:33