for the bugs in the lifeboats - on gdp

  1. dub
    29,576 Posts.
    lightbulb Created with Sketch. 158

    If you haven't already seen it, this is from Gold Eagle just now.



    Don Stott

    The commonly used term "GDP," (Gross Domestic Product, formerly GNP, or Gross National Product), is perhaps one of the least understood terms. Not because it is any mystery, but because one of its prime ingredients is not included in most thoughts, be they amateur or professional. It's like a cake recipe, which leaves out the flour. The GDP INCLUDES FEDERAL AND OTHER GOVERNMENTAL SPENDING.

    Right now, it is estimated that the Iraq thing is costing 15% of the federal budget. In other words, 15% of the federal GDP happens to be spent in Iraq, so the term "domestic" doesn't apply, but it is included.

    All federal handouts, welfare, subsidies, and waste, are part of the GDP.

    All executive expenses, such as security, White House expenses, Air Force One and Two, Congressional silly trips, and entertaining foreign dignitaries, are part of the GDP.

    All military services, regardless of where they may be, and what they may cost, are part of the GDP.

    Billions of pieces of bureaucrat turned out paper, endless streams of new computers, and office equipment, are part of the GDP.

    Poorly maintained National Parks and National Monuments, plus the TVA, and other government operated (at huge losses) businesses and properties, are part of the GDP. Costs of fighting forest fires in National Forests and BLM lands, are part of the GDP.

    Homeland Defense, or whatever the newest boondoggle may be, is part of the GDP. This, of course, doesn't count the rest of the bureaucracies, or off budget items, including the interest paid to the Federal Reserve for the "money" they print, and the government borrows. This is all part of the GDP.

    OSHA, EPA, and the Federal Air Marshals, are part of the GDP. When the airport security people were being trained locally, they stayed in the most posh Telluride and Aspen hostelries, and ate royally. That was part of the GDP. When hundreds were laid off after being trained, and given severance, that was part of the GDP also.

    The costs of the CIA, (can't identify anything), FBI and all their stooges and informants are part of the GDP. The expenses of the futile war on drugs, is part of the GDP.

    The expenses of IRS and its failed $4 million computer system, are part of the GDP, even though a great percentage of their answers are wrong, when queried.

    The FAA and NTSB's bills are part of the GDP. Ever wonder how there were ever accidents without the NTSB to fathom out their causes? Ever wonder how high air fares would be, if the airlines had to pay for their own airports and air safety?

    The costs of the Dept. of Labor, which does no labor, and the Dept of Education, which teaches nothing, are part of the GDP.

    All expenses of local, county, and state governments are part of the GDP. Does the GDP figure really mean anything?

    Also included in the GDP, are gross receipts from businesses, and business expenses, plus all other financial transactions. Unfortunately, the Federal Government is the largest employer, and largest buyer of goods, and this, of course, is a large part of the GDP.

    When the DC boys say the economy "increased by 1%," this can easily mean that the private sector went down by 4%, and government spending went up by 5%.

    Canon Towels laid off 7,500, Ford is considering laying off 21,000, and officially, 45,000 jobs are lost in an average week. Kodak is sending out manufacturing to China and Mexico, and is laying off thousands. Technical and paper work is going to India by leaps and bounds. The IRS is having tax returns examined in India. Huge amounts of office work, is being sent to India. There is even a web site titled, "Your job is going to India." Japan has destroyed the American car manufacturers, and it is said that China has 700 factories which are owned by Wal Mart. When we have a $500 billion trade deficit, that does not come off of the GDP.

    It looks as if the "New World Order" guys are having their way. Figure it this way: Jobs are going off shore, because off shore has cheap wages, and none of the extras American labor has to pay, such as FICA, union dues, and the like. Foreign employers don't have to meet EPA and OSHA standards, rules, and dictates. College graduates in India are delighted to work for $5 per hour, so they get jobs formerly held by Americans at $25 per hour, even though they may have only ended up with $10, after all deductions. Employers in America, hiring Indians in India, don't have to worry about safe work places, unemployment insurance, equal contributions to FICA, and bureaucratic gobbledygook. Many Americans working here, are forced to train Indian replacements, who will work for less. What an outrage! The world is being equalized, at the expense of America. Wages are being driven down here, raised up there. Living conditions and standards, are lowering here, and going up in India and China. We are being dragged down, because of the government's share of the GDP, government's rules, taxes, and regulations, which are enormous. It isn't just the low wages overseas, but the necessity of high wages here to pay the government GDP, regulations, taxes, and piffle.

    Nothing is free, and when it is provided by a government, the cost is usually double, or a lot more. What means does a government have to pay its bills? Two, in the main. Taxes, and printing money. Both are deleterious to an individual and an economy. Individuals see their dollars go down in purchasing power, and taxes taken from their paycheck go up. The economy reels from debased currency, and foreign investors selling or refusing to buy debt. Both are at final stages currently…in my opinion. Debased currency, makes wages go up to break even, and as a result, jobs go overseas. When jobs go overseas, the unemployed depend on government handouts to survive, meaning the presses and checkbooks go into overtime, further debasing the currency, and exacerbating the situation.

    $3.5 trillion in mortgages are being written each year, financed with printing press money, created out of nothing. This adds to the GDP, and adds to the decline in the dollar, and is causing Europe to sell mortgage paper, because it is risky, and has funny bookkeeping.

    Does Alan Greenspan and the DC gang, know what is happening to the US economy? Do they know, but are evil, and determined to destroy America and make us a member of a one-world government, where everyone equal? Are they stupid? Or have they gotten themselves into a jam, and know of no way to extricate themselves, so they'll just hang on as long as they can? You decide. Look at our current situation here, and quiver. Europeans are dumping Fanny Mae and Freddie Mac stocks like there is no tomorrow. Unemployment here is far worse than is reported, because reporting is in gross error. Inflation likewise. Our dollar is falling out of bed, as are bonds, and the stock market will follow. Tens of thousands of paperwork, and technical jobs are going to India every month. Our trade deficit may be more than the $500 billion reported. Our capital, jobs, and former wealth are on the boats returning empty to the Orient, after dumping their manufactured goods on our Pacific harbors.

    What solutions are there to save the US, and even the world economy? Lower interest rates? Nope. That has been tried over and over again, without success. Increase the flow of printing press money, which will cause people to buy more, save less, and go into more debt? This is an ongoing thing, and it isn't working. Not only isn't working, but it is painting the DC drones into an even tighter corner. The more "liquidity" there is, (printing press money and unbacked checks) the less it is all worth, and the more risky the entire thing will be, and appear to be, to everyone. This causes people in foreign lands to sell off their US securities, and now we see bonds, and the stock market together going down.

    Honestly, I really am serious, and I am not trying to blow my own horn, but isn't something tangible, better than all this bogus paper? The world's paper junkies are printing all sorts of things, be it bonds, stocks, "money," IOU's, loans, receivables, payables, and bookkeeping entries of all sorts. It's all so much wasted paper and fluff…to me anyway. Gold and silver requires exploration, mining, milling, smelting, minting, shipping, etc, and these tangibles don't come with the turn of a switch and feeding in paper. They require capital outlay, and effort. Hundred dollar bills are as common as cockroaches in New York, and when I was a kid, I had never seen one. Milk now goes for $3 a gallon or a lot more, and it used to be a dime a quart. Beautiful new row houses in Philly, with hardwood floors, high ceilings, butter joint brickwork, and fancy trim, used to sell for $2500, brand new. Now, one can spend that on a stove. The same number of dollars, bought the houses, and today buy the stoves. Does it really make sense to save in decreasing dollars, with 1% interest that is taxable? Protect yourself.

    Don Stott
    August 8, 2003


arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.