Economic Growth... The Real God of this Modern World

[UncleBlakie]

This guy talks a lot of sense. What a shame he had to say on national tv that he was the son of god.

What was he thinking about? If it was not for that one stupid moment, he could have been prime minister.

[S1587915G]

This gentleman said for me everything I've wanted to say about the modern world.

[biloretard]

im lucky to have a comfortable life,in compairison to somone born in the ghettos of bangledesh

[BooRadley007]

no one wants a war? i wish that were true

[BooRadley007]

surely no one wants a reason to go to war, but if someone attacks you? do you let them kill you?

[DrAdmanEdition]

Economic growth? Personally I think it's people who want to be Gods.

[dtothediesel]

This Icke is the same person who believes in the "Reptilian Humanoid" theory.

[olegunnar123]

money is nothing.

[psikeyhackr]

Money is an arbitrary but useful abstraction.

It gives us a common denominator of value to eliminate the annoyances of barter. But it creates the problems of governments and the super rich of manipulating the money.

Curious that we don't hear demands that accounting be mandatory in the schools. The schools are designed to produce DUMB WORKERS.

[TimeWarp66]

Hence, why we need school vouchers.

[psikeyhackr]

When consumers buy cars they get added to GDP. But cars wear out and must eventually be replaced. When consumers buy replacements they get added to GDP. But the cars that wore out never got subtracted from anywhere.

Economists don't mention NDP much but only CAPITAL goods get depreciated. So that GDP as ECONOMIC GROWTH is actually nonsense.

Economists can't do algebra.

They don't mention the planned obsolescence of automobiles either. The laws of physics do not change year to year.

[freedomtoprosperity]

GDP is not cumulative.

[psikeyhackr]

I never said it was.

But in accounting there is the Income Statement and there is the Balance Sheet. GDP is like the income statement which is NOT cumulative. The Balance sheet is.

Economists don't talk about the Net Worth of the average consumer. Depreciation of automobiles affects their Net Worth. You don't hear economists saying accounting should be mandatory in the schools either.

By not talking about NDP and depreciation of durable consumer goods economists are screwing up the planet.

[freedomtoprosperity]

I don't think you understand what GDP is... The cars that depreciate are not accumulated. Indeed, they are, essentially, disposed of in the next calculation of GDP. GDP is the total market value of all FINAL goods and services sold in a given year. An income statement is a viable comparison, however, I don't see how a balance sheet is relevant.

Why should accounting be mandatory in schools?

[psikeyhackr]

Look up NDP.

What do they say about the depreciation of durable consumer goods?

If you have $30,000 it is part of your NET WORTH. If you buy a $30,000 car then that is added to GDP. That car becomes an asset replacing the cash. One year later the car is worth $23,000. You lost $7,000 in DEPRECIATION. Your Net Worth went down. Economists don't subtract that from anywhere.

What happens to the depreciation every year of the 200,000,000+ cars in the US owned by consumers? For the last 50 years.

[freedomtoprosperity]

Wow. I'm shocked. I simply don't see what the problem is. GDP is the value of all final goods and services produced domestically in a given year. The car from the previous year is not included in the next calendar years calculations! What part of this don't you understand? Stop listening to these propagandists like Icke. He's a con, you don't see that? The man is a communist. One who profits from all the propaganda his books spew.

[psikeyhackr]

I don't give a damn about Icke.

I knew planned obsolescence was going on in cars long before I heard of Icke. John Kenneth Galbraith was talking about it in 1959. How much have Americans lost on depreciation of automobiles since 1959?

Our nitwit economists can't tell us. They don't track those statistics. They define it out of existence with their stupid equation for Net Domestic Product.

They only depreciate CAPITAL GOODS. The economy depends on consumers being dumber than economists.

[IAmTheResurrection2]

Try to think a bit. It's ok if you don't agree with what people are saying here but it looks more like you simply don't understand and that moreover, you don't want to understand what they're saying.

Surely you're intelligent enough to get it. Try actually thinking.

Do you really need people to spell it out to you. dumbass?

[IAmTheResurrection2]

The point is that GDP is not a meaningful measure of how well people are doing, because it includes what we've gained in material wealth but not what we've lost. That's where depreciation comes in.

And also, no-one's a fucking communist any more. Anti-capitalism has moved on since then. Look up "participatory economics" for example.

[IAmTheResurrection2]

A balance sheet would tell us how well off we are. High GDP is supposed to suggest that we are well off as a nation but this is mis-leading. Citizens would understand how misleading economists can be if they learned to analyse this stuff at school. That is the point that was being made.

Freedom to whose prosperity? Freedom for the elite 5% of the population to get even richer? You're not rich, why do you have such loyalty to the rich? Where's your sense of rebellion?

[dunctonhoney]

I think everyone knows this is the truth. Really. But talking like this doesn't make you rich, which is why there is such heated opposition...

Keep it up! Watch my video "why economic growth doesn't actually make sense"

[monkeysnest]

A sane voice in an insane world.

[evoneal]

this guy is an idiot VEHICLE FOR CONSCIOUSNESS rofl

[n1663r]

i have hard time listening to a guy w/ a mullet that huge.