Talk:Gross domestic product

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Wow, We finally made the Best Seller list with 30,000 views as soon as the formula for calculating GDP is called into question. RobSZ 17:53, May 27, 2022 (EDT)

Good catch. Perhaps the official GDP report has been a distortion based on misleading calculations.--Andy Schlafly (talk) 19:13, May 27, 2022 (EDT)
The fact that Russia does not have an economy equal in size to Spain or Italy (as Lindsey Graham thought) but has a functioning manufacturing base turning out T-90 tanks right now and other weapons - without causing inflation and upsetting peoples lives and living standards - IMO will upset the whole field of macroeconomics for a few years to come.
Meantime, some of the rare earth materials the US will need to replace some of the high precision weapons already shipped off to Ukraine we already sanctioned Russia against to disallow imports - never mind other outsourcing of the manufacturing base to produce anything, like helmets or kevlar vests. RobSZ 20:26, May 27, 2022 (EDT)
Simple illustration:
When a company like Netflix has a price-earnings ratio three times higher than that of Nestlé, the world’s largest food company, it’s more likely than not a reflection of market froth than of physical reality. Netflix is a great service, but as long as an estimated 800 million people in the world remain undernourished, Nestlé is still going to provide more value. RobSZ 20:31, May 27, 2022 (EDT)
The US economy is 77% service sector (Netflix is a service, not manufacturing; Nestle is manufacturing). Then we get headlines like this on services: "Strippers say a recession is guaranteed because the strip clubs are suddenly empty." So the value of services which disappear in the instant they are created has bloated GDP numbers.
Meantime, the Russian manufacturing sector is turning out tanks, GRAD rocket launchers, and AK-47s, which it never really stopped after 1945, except for a brief slowdown in the late 1980s and 1990s (don't ever believe they are running out of anything, as propagandists keep saying). But in the US, not only do we not have factories to convert to war production, we don't have a skilled population to work those factories. RobSZ 20:40, May 27, 2022 (EDT)