TemplarKormac
Political Atheist
- Mar 30, 2013
- 50,418
- 13,751
Don't play dumb. You and I both know that in a previous thread you argued with Faun that printing money increases GDP. A shocking display of ignorance.
I never denied that printing money increases GDP. I thought I had just backed up that point outright. What do you think GDP is? It's the value of goods and services. If the govt. prints $500 billion in money, and the benefactors produce $300 billion in goods and services with that money, then GDP has went up $300 billion. But that doesn't mean that there isn't $200 billion in waste.
That's why, GDP is a better measure when accounted inflation. A two percent increase in GDP does not mean that the economy improved two percent even on a superficial level. The inflation needs to be accounted for. Furthermore, if you've done massive borrowing/printing money, you've effectively lessened your prospects long term. The idiots who argue that the stimulus was good are making arguments akin to buying a TV on a credit card and saying that it's all good. No, you just created a non return on investment and you've racked up your debt.
Um no GDP is a measure of economic activity. Not currency itself. Get a clue.
And no inflation is already accounted for when GDP is calculated. This is pretty basic.![]()
LOL.
GDP is a measurement of economic production, as in how much an economy produces in goods, measured in value by the total amount of whatever currency in the country its being measured for.
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