Subject: Re: can marci help?
Rossel's claim that GDP -25 to 27 trillion- is a positive sign ignores that some of that numeric gain means many are getting less goods and services for the same amount, or pay more for the same amount. It doesn't necessarily mean we are producing and selling more cereal or getting a better deal on services.
It means Kellogs reduced the amount of cereal in a box by 2 ounces and announced record share buybacks with their increased profit, a utility bill was raised from $25 to $27 for the same amount of nattygas/water/etc. The plumber raised his fee from $2500 to $2700 to replace a leaky copper pipe with pex.
Jeff Bezos got rid of his 170' boat and got a 270' power boat to tote the toys for his 470' "sailboat" while the middle and lower economic strata are sinking or treading water.
And a ball player got a 10 year $700,000,000 contract.