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re: The economy is so bad that the number of jobs created last month busted forecasts by 100K
Posted on 6/12/24 at 10:00 am to Bard
Posted on 6/12/24 at 10:00 am to Bard
quote:A trillion dollars means nothing without a denominator for comparison. You obviously know this. What if GDP were 50 quadrillion. Who would care at all, then, if we added a trillion to the debt in 100 days?
I just like the simplicity of debt creation, most people understand it and it's easy to lay out.
I'm not sure how discussing GDP growth strengthens my stance unless you mean the growth in the total public debt as a percent of GDP. That underscores the problem as it shows the brunt of GDP growth since 2004 (from 59.8% in Q1 2004 to 122% in Q1 2024) has been from debt creation (and it's still rising).
1
Posted on 6/12/24 at 12:14 pm to Big Scrub TX
quote:
A trillion dollars means nothing without a denominator for comparison. You obviously know this. What if GDP were 50 quadrillion. Who would care at all, then, if we added a trillion to the debt in 100 days?
The denominator is public debt as a percent of GDP, not just GDP. If GDP were 50 bajillion bucks and public debt was 546%, the amount of GDP is irrelevant because it's only built/sustained on massive amounts of unsustainable debt. Focusing on just the GDP number in this instance is to not see the forest for the trees.
This post was edited on 6/12/24 at 12:17 pm
Posted on 6/12/24 at 3:14 pm to Bard
quote:But you didn't list that either...did you?
The denominator is public debt as a percent of GDP,
Posted on 6/12/24 at 9:18 pm to Big Scrub TX
quote:
But you didn't list that either...did you?
No, I didn't need to in order to make my point. The facts I posted of how quickly our debt is escalating are self-definitive.
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