What Is The GDP?

When Barack Obama talks about the GDP, what is he talking about? Sure, we all know it stands for Gross Domestic Product, but what does that mean, really? And why does Timothy Geithner say we've turned the corner at the same time Glenn Beck and Michael Savage say we're going into the deepest, darkest depression ever? How can people look at the same data and see different things?

One of Thomas Jefferson's worst fears about the fledgling American democracy was that an uninformed electorate could invite an unquestioned ideological agenda and lead to abuse. We used to know truths which we called self evident. Now, everyone argues that their party or their side is right all the time. There was a time when we saw the public good as the motivator for all elected officials. Now its a punchline on late night television. Shame on us for being uninformed. Shame on them for promoting it by serving themselves and their interests instead of the public good. Where once we fought against an army of mercenaries and savages to gain our freedom as a people, now we must fight against an army of bureaucrats and pundits and interest groups. As surely as the militias took up arms to fight the British Army, now a new type of militia must rise up to support and defend their community. Tell truth to power. Hear the real story. Think for yourself. Join the militia at econmilitia.com. Take back your inalienable rights.

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[bushbaby1993]

Can you make a video with zero cross elasticity because I don't understand that term.

[EconMilitia]

I'm not sure we'll do an episode on cross elasticity, though it might be fun to try out some new graphics! Cross elasticity is pretty straightforward - it's the degree to which demand for one product is affected by the price of another product. Zero means there's no change in demand.

So if the price of grapes goes up and it doesn't affect the price of ball bearings, you could say that has zero cross elasticity. It is calculated by dividing the percent change of one with the other.

[jamalsutube]

oh yes i don't know the difference between public and private companies in the stock market. how do you invest in private companies?

[EconMilitia]

Private companies take investment from qualified investors, from venture or investment banks, and from employees. The stock market is where public companies are traded -- it is a public market. Private companies aren't traded on the public market, but can be traded between individuals. Make sense?

[jamalsutube]

yea thanks a lot

[EconMilitia]

We're glad you liked it. What other things do you want to see?

[KesslersCross]

Dude, I just took a pain pill because I got my wisdom tooth cut out...I really hope that you did something to your video because you look really strange here on my end.

[Dimitri0809]

Countries with high GDP are usually healthy economies that have high job growth rates.

[FreedomInAmerica]

President George Bush largest budget was $2.9 with a $239 Billion deficit.

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Obama proposed $3.7 Trillion with a deficit of $1.4 Trillion for 2011. Currently based on usdebtclock org, the debt/GDP is 97.2%. Yet Obama claims that his spending is reasonable better than Reagan.

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Obama and democrats are trying to position themselves as the “good guys” using a government shutdown as a political strategy for their exorbitant spending.

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Jack Daniels Explains The Deficit

watch?v=_Rl1xgT3REE

[dmnmike]

Great explanation. No doubt that porfessors are bright, but their ability to communicate information in an effective manner is horrible. I'm coming here to supplement her incoherent madness -- well, luckly for me it's an introductory business class.

[james02Perry]

Good stuff, man.

[nvrletemgo]

Very good speaker.

[NoMidsForMe]

GDP is motha fucking GrandDaddyPurples nigga

[sicknangry]

do you all still have a website?

[afroskizzle]

Grand Daddy Purps is what he's talking about

[LBC6893]

This video is 100% false. The real GDP stands for Grand Daddy Purp.