The BIG LIE that was perpetrated by the colleges and universities in text books about Economics was the change in the definition of GDP, GROSS DOMESTIC PRODUCT. In the Forties, the definition of GDP was the total goods and services PRODUCED by our Society. In the late Forties and early Fifties, that was transformed to "…the total CONSUMPTION of Goods and Services by our Society". THAT CONSUMPTION TOTAL IS FALSE IN THAT MORE THAN SIXTY PERCENT(60%) OF THE INCOME IS OWNED BY THE TOP TEN PERCENT (10%)OF OUR SOCIETY. At first, the use was said to be interchangeable. Now, it is considered the only "true definition of GDP." Today, they say that 70% of GDP is what is consumed by our Society. 85% of that 70% is consumed by the top 20%. THIS IS THE WORKING PLAN FOR THE ECONOMIC BETRAYAL OF AMERICA.
THIS HAS FOREIGN IMPORTS COUNTEDThe AGENDA was to change the economic measure of our Economy so the people would accept corporate internationalization and outsourcing of production. The Measurement of Production in the Nation was surreptitiously substituted by Consumption Statistics. Is it just an accident that the MEDIA's economists use this fraudulent definition of GDP? Can anyone say it is NOT a major LIE to include CONSUMERS' purchases of FOREIGN GOODS AND SERVICES in tabulating the Gross DOMESTIC Product of the United States? It causes a global tragedy because the Meltdown of Consumption in the U.S. has caused international contractions in the economies of the world which have become our PRODUCTION functionaries. Furthermore, the continued use of this fraudulent definition of GDP has led to the loss of our Economic Leadership in the World. This false definition of our national GDP, which is used by everyone, put us in the position of producing a False Economic Measurement of our national productivity. Counting consumer purchases of foreign goods and services that have been expanded by unsustainably Loose Credit led to this Economic Crash. Our "REAL GDP" is not anywhere close to the number used by economists. This has created a FALSE ECONOMY that makes our standing in the Global Market Place a Deliberate Delusion. Some of lies that you were told, and ar still being told, are: 1. The national debt is only X percent of the GDP; 2. The annual deficit is "ONLY" Y percent of the GDP; and 3. The nation's GDP is "larger than so & so" countries of the Global Economy. The alarming fact is that the Congressional Accounting & Budget Office reports on 2/10/2009 that the Net Worth of the Average U.S. Citizen is back were it was before 2001.
THE SAME AS DOMESTIC PRODUCTION
The False Accounting of the GDP is contributing to this crisis in our Economy.
CLICK HERE The GOP Revisionist LIE about the Great Depression.
Has anyone, other than Naomi Klein, author of the best seller, "The Shock Doctrine", noticed how the Elite are orchestrating this real Depression 2 into a consolidation of their economic power ? The book's thesis is that the Elite use any event that disturbs the Nation's economic, political, and/or social status quo, to push through long standing items on the Elite's Agenda that increase their power. IE. 911 & the Afghan and Iraq Invasions; the Patriot Act; & unconstitutional & illegal criminal acts like wiretaps, invasion of privacy, torture, war crimes, etc.; the Major Media, (MM), is in collusion with its Distraction and Diversion (D&D) tactics to keep the attention off the $700 Billions used for this power grab; and even the talking heads can't believe that the Fire Storm started by the Federal Prosecutor in Chicago against Illinois' Governor is for real. This event was triggered just in time to divert attention away from the Congress' efforts to find out where the $700 Billion is going. Arresting Illinois' Governor is nothing but a D&D tactic. Such a Politician is smart enough not to have committed any crime other than to talk about legal bribes (campaign contributions). A crime has to be an overt act, not just talk. Furthermore, during this D & D action, the Congress is allowing the Big 3 Bailout to become a push-down against workers' wages and attacks on their unions which have already given upmost of the economic gains made in the past ten years. Late last summer, 2008, the Congress authorized billions for the Fannie Mae and Freddie Mac firms, when they were running amok, to buy mortgages from Community Banks. Why aren't these new "takeovers", by the Federal Government, operating and using this money to bail out foreclosure victims? The least they could do is buy good mortgages from the banks that they are authorized to assist. Now, the Media and the Congress are NOT asking why the Banksters are not financing mortgages but are using the $700 billions to merge and throw people out of work. Mergers & Acquisitions, (M&A), are always an Increase Factor to unemployment. This is another item on the Elite's Agenda. Use recession to make jobs scarce, so people will work for less. This is also making a higher minimum wage much more difficult to achieve for the new administration. It worked in the Bush-Greenspan recession of 2001. They touted a "JOBLESS RECOVERY", back then. There is no such thing as an economic recovery without growth in jobs that pay better than in the previous economic cycle. The proof is the Nation's growth in income disparity and growth in the number of so- called working poor. The real wages of the American working class have shrunk every decade since the 1960's. Real Wage Studies show the working class median income to be below that of the 1970's. No one reports that the Great Depression of the 1930's was less costly for the working class than this "recession." Back then, workers had no credit card debt. Credit Cards were only used by Sears and a few other department stores. Today, the credit card debt of consumers has mushroomed due to purposeful enactment of the Elite's Agenda. That Agenda included driving through Congress, bankruptcy laws that benefit the Banksters. Allowing "Liar Loans" and "Straw Buyers" for real estate with rampant speculation in Energy and Mortgages is also on that Agenda, still. Before the Big War, WW2, most of the working classes were renters. Since then, all of the laws the Banksters have paid Congress to pass, with tax deductible lobbying funds and bribes, called "Campaign Contributions", have worked against the middle class. They undid regulations protecting borrowers that existed since the '30's. The Elite Agenda's tactics pushed creditors to expand "Home-Ownership" with the Bush's "Ownership Society Programs" knowing that workers in debt were just like the debtors at the Company Store which could not strike or quit their jobs, or would lose their Company Housing. That Elite's Agenda was to "pooh-pooh" the warnings of Ross Perot and his "GIANT SUCKING SOUND of NAFTA", which has taken over 15 years to be realized. The Media touted the Bush's "job creating" as the credit industry expand dramatically, pushing current homeowners into second mortgages and lower wage workers into un-afford- able debt. They didn't report how many jobs were created by dispossessing the National Guard troops which were sent into un-necessary combat. The credit industry's expansion was the major job creation. IE. In Clark County, Nevada, October, 2006, there were over 11,000 mortgage brokers. Today, December, 2008, there are less than 200. Expand that number over all the major counties in the United States.
This latest price run-up by the BIG OIL Marketing Firms, the BIG OIL OLIGARCHY-(BOO) should be the final straw for American Consumers. Since the 1970's, this manipulation of prices has been the blatant, yo-yo effect to enrich the Elite who control both the BOO and the Big 3 Automakers, (B3A). This time they thought McCain was going to win and kept oil prices high until the OBAMA UPSET was inevitable. Then, they quickly started dropping oil prices to forestall any action by the new administration. Every such BOO Cycle, for the last 35 years, has resulted in the same consumer boycott of SUV's when prices go up and then a Big Three Auto, (B3A), marketing promotion of gas guzzlers, when prices go down. Has anyone heard from the Major Media or from Congress, recently, of how the BOO has a death grip on our economy, government, and consumers? Congress is bought and paid for by the same people who control THE BOO and have control of the Boards of the B3A. That's right ! The BOO has controlled the boards of directors of all Auto Companies, both foreign and domestic for the last 60 years. THE BOO and their Oil Dollars also control CONGRESS !!! HERE's PROOF, READ THIS !!! (Click Here)
The Marketer Controls the Price,
Not the Producer
Have you heard anything about the Excess Profit Tax that was supposed to be levied on the outrageous profits the BOO are making? Have you heard anything about the Oil Giants' Mergers which are clearly a violation of the Sherman Anti-Trust Act and a distinct violation of the Clayton Restraint of Trade Act? Have you heard anything about the fact that high prices for gasoline contributed to the consumer's home mortgage problems? The unexpected rip-off of people who bought homes, in the suburbs, far from work, when gasoline was less than $2.00 a gallon, have made it impossible for people to make their mortgage payments with gasoline at $4.00 a gallon. The BOO tries to blame the Oil Producers but anyone familiar with Marketing knows the control of the price of the commodity is by the Marketer, not by the Producer. In fact, the Producer is so in debt to the Elite's Banksters, they are on the string and are the Marketers' puppets. Energy products are so vital to the Nation's Economy, all should be treated as Utilities and regulated by the government, just like Electricity and Natural Gas. ************* CLICK HERE TO READ THE SOLUTION TO The 2nd Great Depression
THE ELITE MOVE TO TRASH TECHNOLOGY STOCKS.....
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