Deficit Spending Propping Up GDP in U.S. and China.
In this report, I cover the early market action from London on Monday, August 19th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I look closely at GDP and in particular at how the statistic is calculated. What I find interesting from looking at how GDP is calculated is that government spending is actually counted as production even though we know that governments do not produce anything and only extract wealth through taxation and borrowing.
So with that in mind, I will look closely at the major economies and see what their GDP data and their government spending is really telling us about their economies. You will be surprised to find out that countries that we think are not doing well economically are actually doing better than countries like the U.S and China once you exclude government spending.
My conclusion is that the Powers that Be are giving businesses and individuals the wrong signals about the state of the economies around the world and that one needs to be vigilant about what one is told about by politicians and Central Bankers too.
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You are right, we do not have FREE MARKETS anymore!
Very interesting, how can government spending be part of GDP?
Can we trust any economic, financial statistics etc as they are all manipulated!