Even the politicians look at the market for the health of the market.
GDP is a terrible indicator of societal health, but they seem to keep using it as if that money is being used to make lives better.
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Even the politicians look at the market for the health of the market.
GDP is a terrible indicator of societal health, but they seem to keep using it as if that money is being used to make lives better.
GDP is a lagging indicator, so it can't be used to prepare. Not only that, included in the calculation of GDP is government spending (because it is the largest "customer" in "the economy).
Recent economic growth is due to the fact that most hiring and buying took place in the government sector. Private sector-- where most people live and work-- has been suffering for a while.
It is a lagging indicator yes, but the government focus is to increase corporate wealth, using GDP as an indicator of how well they are doing it :D
Yea. I agree that it's a terrible indicator but the politicians have been out of touch for a while.