MUST READ ALL!-----$2.7 Trillion Buys "Spectacular" GDP - Peter St Onge, Ph.D.

$2.7 Trillion Buys "Spectacular" GDP - Peter St Onge, Ph.D.
"Fresh GDP numbers came in and it was a blowout. 

• The kind of blowout that only a $2.7 trillion government deficit can buy while the private economy crumbles around it.
• Another couple blowout GDP reports like this and Americans will be living under an overpass...

...So what's the problem?
• Debt.

Your grand-kids bought it all. And then some.

• To see why, in the past 12 months the federal deficit increased by $1.3 trillion. Yet we only got half that in GDP -- about $600 billion.
• In other words, everything else shrank.

It's even worse for that brave and stunning Q4 -- there we got just $300 billion in extra GDP for -- wait for it -- $834 billion of new federal debt.

...That means when GDP is growing from government spending it's not measuring wealth.

• It's measuring dissipation of wealth at best, destruction of wealth at worst.

Essentially, the pace at which we're going Soviet, replacing private wealth with government waste.
So translating that brave and stunning GDP into the real world, we're destroying wealth at rates not seen since 2008.
This actually lines up with what we've seen in jobs -- in a recent video I mentioned that over half the jobs last year were actually government and government related social service jobs.


In some states it was literally more than all the jobs created -- in other words, the private sector is shrinking.
All these government jobs, of course, are unproductive -- they're not making us more prosperous as a society...