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|User Info||No, GDP Did *NOT* Advance; entered at 2018-10-07 09:48:18|
Registered: 2014-05-19 Chic
Technicaly it's far worse that Karl identifies.|
To maintain the GDP of around 20 trillion (we should use current dollar GDP growth since we are comparing it to debt growth), we need to compare it to not only the 1.257 trillion US interest bearing debt growth but add in city and state debt growth and corporate and consumer/individual debt growth.
that would make the comparisons easy and simple to say that if our current dollar GDP growth is 7.4% (minus 3.2% inflation to get to 4.2% real growth for the 2nd qtr, remembering that inflation is higher than stated) that 7.4% is roughly 1.4 trillion of growth compared to US debt increase of roughly 1.3 trillion plus all the other debt increases.
most people cannot buy a new car without borrowing or also leasing; leasing used to be upper end cars for businesses getting cars for execs-now we see toyota corollas and Honda Civics and Hyundai Sonatas being leased as its the cheapest and fastest way to get into a car assuming you do not mind paying on a car for the rest of your life.
Anyway without all the debt we have a contracting economy, with using higher inflation we have a contracting economy but who cares? Not many of us.
BTW-healthcare insurance--the cpi reporting asseses inflation in healthcare for the last several years to be about 1% and depending where you are n the incime and money left for avaiable soending, if you have 80k to spend each year and you have to buy insurance costing 10k, thats 12.5% of your spending going up 1%, err, I have experienced more much more than that. Of course if I have 240k to spend each year, thats only 4.1%.
whats the real inflation rate? it depends.
The whole thing is a pile of crap.