psikeyhackr (August 14, 2008 at 8:29 pm)

Money is an arbitrary but useful abstraction.It gives us a common denominator of value to eliminate the annoyances of barter. But it creates the problems of governments and the super rich of manipulating the money.Curious that we don't hear demands that accounting be mandatory in the schools. The schools are designed to produce DUMB WORKERS.

olegunnar123 (May 11, 2008 at 12:53 pm)

money is nothing.

psikeyhackr (May 7, 2008 at 10:41 pm)

I don't give a damn about Icke.I knew planned obsolescence was going on in cars long before I heard of Icke. John Kenneth Galbraith was talking about it in 1959. How much have Americans lost on depreciation of automobiles since 1959?Our nitwit economists can't tell us. They don't track those statistics. They define it out of existence with their stupid equation for Net Domestic Product.They only depreciate CAPITAL GOODS. The economy depends on consumers being dumber than economists.

freedomtoprosperity (May 7, 2008 at 9:19 pm)

Wow. I'm shocked. I simply don't see what the problem is. GDP is the value of all final goods and services produced domestically in a given year. The car from the previous year is not included in the next calendar years calculations! What part of this don't you understand? Stop listening to these propagandists like Icke. He's a con, you don't see that? The man is a communist. One who profits from all the propaganda his books spew.

psikeyhackr (May 7, 2008 at 4:37 am)

Look up NDP.What do they say about the depreciation of durable consumer goods?If you have $30,000 it is part of your NET WORTH. If you buy a $30,000 car then that is added to GDP. That car becomes an asset replacing the cash. One year later the car is worth $23,000. You lost $7,000 in DEPRECIATION. Your Net Worth went down. Economists don't subtract that from anywhere.What happens to the depreciation every year of the 200,000,000+ cars in the US owned by consumers? For the last 50 years.

freedomtoprosperity (May 7, 2008 at 3:28 am)

I don't think you understand what GDP is... The cars that depreciate are not accumulated. Indeed, they are, essentially, disposed of in the next calculation of GDP. GDP is the total market value of all FINAL goods and services sold in a given year. An income statement is a viable comparison, however, I don't see how a balance sheet is relevant. Why should accounting be mandatory in schools?

psikeyhackr (May 6, 2008 at 9:41 am)

I never said it was.But in accounting there is the Income Statement and there is the Balance Sheet. GDP is like the income statement which is NOT cumulative. The Balance sheet is.Economists don't talk about the Net Worth of the average consumer. Depreciation of automobiles affects their Net Worth. You don't hear economists saying accounting should be mandatory in the schools either.By not talking about NDP and depreciation of durable consumer goods economists are screwing up the planet.

freedomtoprosperity (May 6, 2008 at 2:17 am)

GDP is not cumulative.

psikeyhackr (April 10, 2008 at 6:41 pm)

When consumers buy cars they get added to GDP. But cars wear out and must eventually be replaced. When consumers buy replacements they get added to GDP. But the cars that wore out never got subtracted from anywhere.Economists don't mention NDP much but only CAPITAL goods get depreciated. So that GDP as ECONOMIC GROWTH is actually nonsense.Economists can't do algebra.They don't mention the planned obsolescence of automobiles either. The laws of physics do not change year to year.

dunctonhoney (March 25, 2008 at 5:53 pm)

I think everyone knows this is the truth. Really. But talking like this doesn't make you rich, which is why there is such heated opposition...Keep it up! Watch my video "why economic growth doesn't actually make sense"