CONSOOM What Really Matters
(media.scored.co)
Anyone rooting for the GDP over it’s people belong in a mass grave.
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7 hours ago
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1 hour ago
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when the AI bubble bursts it's going to fuck everyone. these people especially.
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Goodhart's Law is the famous adage stating that "when a measure becomes a target, it ceases to be a good measure."
It highlights how people start to game the system or manipulate metrics to hit specific goals, which ruins the usefulness of the data.
It highlights how people start to game the system or manipulate metrics to hit specific goals, which ruins the usefulness of the data.
GDP includes issued debt.
Imagine taking out a million dollar loan, blowing it all on hookers and booze and then claiming your net worth went up by 1 million dollars. That is literally GDP.
Imagine taking out a million dollar loan, blowing it all on hookers and booze and then claiming your net worth went up by 1 million dollars. That is literally GDP.
I like another joke where two economists are walking down the street.
The first economist says “I’ll pay you $100 bucks to eat some dog shit.”
The second economist agrees, eats the shit , and says “I’ll pay you $100 bucks to eat the shit”. The first agrees , eats the shit, and takes his $100 back.
“We’re both full of shit and no richer” the first says
The second replies, “yes, but we increased the GDP by $200!”
The first economist says “I’ll pay you $100 bucks to eat some dog shit.”
The second economist agrees, eats the shit , and says “I’ll pay you $100 bucks to eat the shit”. The first agrees , eats the shit, and takes his $100 back.
“We’re both full of shit and no richer” the first says
The second replies, “yes, but we increased the GDP by $200!”
GDP is not equivalent to net worth. It's equivalent to spending. In your example GDP is measuring the aggregate benefit to Hookers and Booze makers, since that money was received, and then distributed, and then turned into income, it's "real GDP."
The gambit is the money was created by accepting future inflation. You've literally stolen that money from your children and grandchildren and then spent it. It _is_ spending. It _is_ fucked up.
The US has more conserved land than any other nation. The value of that land is absurd. That's "net worth."
The gambit is the money was created by accepting future inflation. You've literally stolen that money from your children and grandchildren and then spent it. It _is_ spending. It _is_ fucked up.
The US has more conserved land than any other nation. The value of that land is absurd. That's "net worth."
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