10 GROSS DOMESTIC PRODUCT
I think that our GDP is being used by Government to lead us poor citizens of Canada astray. The quarterly reports are announced as an indicator of how great our Government is doing. How is GDP arrived at? The sale of imported goods is supposed to add to our GDP. Does that make any sense? The amount of debt that we pile on top of the already obscene amount individuals owe is reflected as growth in GDP. New Government debt or money printed becomes GDP. The natural resources that we deplete is shown as Product. Government expenditures of all kinds are considered as Product. The cost of the Stock Market casino is considered a product whereas there is nothing actually produced. The cost of that Cuban vacation is considered a product of Canada. The costs to clean up pollution is considered Product. The future cost of cleaning up pollution is not deducted from today's Product. So how does GDP indicate anything useful about the state of our country?
While I am on a rant, another thing that bothers me is why Government borrows money. It is bad enough that the banks and financiers create money to loan to people for financing cars or other consumer goods, or credit card debt, or personal loans. Why does not the Government just print it like they used to? The money comes from the taxpayers no matter which way it is done. If the money is printed it is reflected by the decrease in the value of the money of the Current generation. If it is borrowed it is passed on to future generations to pay. If the money is borrowed it is in effect printed by the banks and financiers and increases the wealth of the already rich.
And while I am still on a rant, what does Government do when it wants to stimulate the economy. It uses their “trickle down” economic foolishness. They feed the banks, the big corporations, the paper pushers, those who use it for buying up existing business, or for foreign investment, rather than creating new production. Government should pay it directly to people where it gets into the economy the fastest.
Now my rant just makes me sad. I am sad that our elected representatives have allowed the status quo to become so complicated. They have been led away from the basic reason for Government, to serve people. They have the wrong taxation base, that of what people create rather than what they consume. The taxation of income is so detrimental to the economy and unfair that volumes of complication has tried to correct the damage done by the use of a wrong tax base. They have undertaken a complicated web of doing things to help people rather than the simple one of simply providing resources to those in need, no matter what the reason for the need. In doing so they have taken away personal incentive and freedoms that would otherwise be beneficial to society as a whole.