Consume Product

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."