Global Financial System of Fake GDP Statistics Exposed! What is GDP?

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1. great site , love your work , I just have another possible thing to contribute about the fakery of GDP , I will use Australia as an example but this can be mirrored in many other countries including U.S  taking for example Rio tinto or BHP, in the u.s it could be starbucks or G.E , .. first of all these large multi national we know pay very little or no tax , well probably a lot less proportionally compared to their middle class employees combined, I realise the u.s  were talking about a 13% or so tax if the multi nationals bring the dollars home, now here's the thing, if these giants take all the profit and park it in the caymans via Ireland or Switzerland , why is this included in the GDP of that country {untaxed} ?? , these corps get away with these loop holes via government lobbying or politician pocket lining , now for the second kick in the guts for our countries honest workers who help pay off national debt,  these big corps get bored of there mass money build up in the off sure accounts so they decide to buy some sovereign bonds , treasuries etc with the same untaxed profits sucked from the very same  nations resources which belong to everyone , in turn they receive yield / profit from these bonds that the common taxpayer has to service or pay for including interest  , I don't know what you would call this but I call it DOUBLE DIPPING ! without the courtesy of paying taxes on the initial profits ., let me know if I've missed something , keep up the good work
2. The powers that be here in the USA have included Obamacare in their GDP calculations, or at least that's what I have heard.
3. David thanks so much for this vid, would it be possible for you to make a video explaining how hyperinflation would occur when the US dollars being held overseas would flood our economy along with the interest attached to it when the nations holding these dollars decided they no longer wanted these dollars.  I have heard of this before but would like to see it explained, I believe you can do this, thank you again brother.
4. I love your chanel very informative, where do you see the dollar in 5 years and gold and silver?
5. Prior to 1986 environmental clean up was included for every industrial investment made. Can explain why the countries have a deterioration of environmental conditions in their respective countries.
6. Would not part of government spending get double-counted? That would be the part of gov't spending on "entitlements" which then become consumption.
7. Latest 3rd quarter had a third of the GDP made up of durable goods. However the 3 months that made up Q3 July was plus 2, August was minus 3 and September minus 1.2 on durable goods. Combined minus 2.2 average....how does that jive with contributing a third of the 1.5 print in GDP?
8. in my country, digging up cemeteries and selling the land to the highest bidder increases the GDP.
   government officials (including politicians) and land developers receive fat bonuses, and bankers get a cut from those land deals.
9. You are doing good educating the masses.
   Thank you for all the informations.
10. The nation used the GNP till the great numbers manipulator Bill Clinton was elected, why did Bill switch to the GDP? The GDP can be manipulated with government spending. Something about Government spending in reality it is a minus to a free Republic economy, not a plus as the GDP makes it. Another number corrupted by Slick Willy inflation, slick willy took food, energy, gas off the inflation equation three commodities that people can not do with out. Inflation another rich mans tool to steal more from the people, there was a time when people received pay raises to match the so called inflation those days are long gone. Know all the created inflation goes into the few's pockets. Think about it, the few charge you 3% for our money, so right off the top they are getting wealthy off the people. Then the few who own about everything use the lie of inflation to raise the price of everything they own and sell to the public.
11. I hear people smuggling is a booming business in the EU.
    
    Shame there's no stocks to invest in.
12. David,
    I look forward to three things every morning. Waking up with my wife, cat and are all breathing. The third is your daily post. Today it was early, so you have to do another for tomorrow please. Its fascinating stuff...The best...R.
13. I love that graph. Derivatives outweigh assets. I am laughing my head off. Thanks David.
14. Thank You.
15. I would like to see a video on your perspective on what inflation is and why it is used... thanks.
16. Do not win/Do not lose/Break Even
17. Keep up the good work :-)
18. they have covered drugs, prostitution and other illegal activities that pay no taxes - surprised they did not include all babysitting, lawn mowing, , lemonade stands, DIY projects and possible bartering. That might double GDP
19. 'Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist.' - Kenneth Boulding
    
    I am using this quote to preface a question. I listen to the Money GPS and many financial channels. Most of them have a pretty grim outlook for the future. My question is why does an economy have to grow continuously? I suspect the root of the answer is that we are a debt based economy and we have to produce more each year to cover the interest on the money printed out of thin air. Or as I have heard it put stealing wealth from the future.
    
    If I am right about this, what would happen if the economy did not grow? What is the motivation for manipulating the numbers? Aren't those people who are doing the manipulation concerned about their reputations? I cannot imagine needed a financial perspective or financial advice and going to someone who in the past gave me false information. Would the earth come to a standstill if PTB said we are not going to grow next year, or it will stay pretty even, or even a downtrend What is the point of the deception? I seem to be having some sort of disconnect. If you can help me here I would appreciate it.
20. Question: if you indeed can the G.D.P. as the total sum of government spending + investments  + export, then it actually means the US is bankrupt, now, can you not? After all the debt ceiling has just been raised from USD18.1 Trillion, to USD19.6 Trillion, an extra USD1.5 Trillion, which would mean that the former debt ceiling of USD18.1 Trillion has already been reached. It is already stated earlier many times, that this amount is actually impossible to pay back. When you are unable to pay for your debt you are called bankrupt, e.g. Greece and many more (Puerto Rico?). This would indeed mean that the USA is indeed bankrupt.