Bird_Gunner45 said:
I don't see your point, so perhaps I'm missing what you're saying. I don't see the connection between the giving of $100,000 and our current economy. The liberals have borrowed a ton (not unlike harper who allowed it to grow over $150 billion) without a doubt, which combined with poor CPC economic policies has placed Canada into a potential future debt issue. But, in terms of economic growth canada increased 4.6% last year, which is the highest in 17 years (even considering harpers almost as bad borrowing). That can't be simply slugged off as economic factors include more than simple cash exchanges.
The point is, when a government borrows to inject money into the economy, you can't just say "well the numbers improved, case closed everyone." The government did exactly that. There should be no surprise that the GDP increased, after all, it simply measures spending.
Economic growth of 4.6% did not occur. The GDP increased by 4.6% The GDP measures spending, it measures consumption, it is not a measurement of economic growth, simply an indicator. It measures *consumption* and that is a very different thing. There is no specific measurement of economic growth and this obsession with the GDP serves us more harm than good.
GDP is often used as a key figure but it is not the only one nor is it a black and white measurement of "GDP increased, therefore there was economic growth" or vice versa. It just means more consumption occurred. More consumption doesn't necessarily mean anything if you have to input borrowed money into the equation to make it happen. As Peter Schiff responded to the question about increasing the GDP, "yes, but at what cost?"
If the government borrowed 3.5 trillion dollars and gave $100,000 to every Canadian, consumption would sky rocket and therefore the GDP would sky rocket. That doesn't mean the economy is more productive or more efficient, it does not mean it is more sustainable. In isolation, the GDP just means people spent more money. You need to look at other variables as to "why" to figure out if it's a good thing.
If all other variables remained unchanged, but half the labour force stopped working and the GDP fell by 10%, it does not mean there was economic contraction.... it means the economy almost doubled it's efficiency. People who focus only on consumption (GDP) would argue that the economy is collapsing... I'd be doing back flips with excitement of how much more efficient our economy became.
Bird_Gunner45 said:
I also hope you see the irony in telling someone they're being arrogant, shallow, and dismissive in an extremely arrogant, shallow, and dismissive manner
Respect begets respect, and the reverse is often also true.