2nd-quarter GDP numbers are the worst since World War II, with the US economy contracting an annualized 32.9%, as new unemployment claims increase for the second week in a row
There is a general problem with GDP is that is not often reflecting developments with "real economy". This why other measurements such as Quality of Life (QOL) are much better, precise and comprehensive. I mean, GDP can look higher when there are more hedgefond investments or financial clouds comparing to QOL that is not measuring higher costs due to car accidents as improvement of GDP.
There is a general problem with GDP is that is not often reflecting developments with "real economy". This why other measurements such as Quality of Life (QOL) are much better, precise and comprehensive. I mean, GDP can look higher when there are more hedgefond investments or financial clouds comparing to QOL that is not measuring higher costs due to car accidents as improvement of GDP.