Had a college professor way back in the 1970s that redefined GNP(now GDP) for his students. He said the official definition of GNP is that it represents the total value of goods and services produced by an economy(country) in one year. He said that is not what the statistic released by the government and called Gross National Product represents. He said a much more accurate definition of GNP is that it represents the “total value of money produced by an economy” in one year. He then described the disconnect between money and goods and services and the dangers to a national economy that occur when that disconnect grows too large. This was in 1978.
To add a bit to your discussion of productivity gains produced by technology starting in the early 1990s. They were real, but they ended up being part of the great wealth transfer from the lower and especially the middle class to the elite and to Wall Street. What became the upper middle class did benefit in terms of the rapid growth in the value of their 401Ks, IRAs, etc., but they didn’t benefit like the 1% or the 3% did, not even close. The average wage earner did not participate in the money harvest and the blue collar manufacturing worker was effectively eliminated. Recall that the technology revolution happened at the same time that America’s industrial base was gutted and manufacturing jobs sent to China. This was all part of the strategy, part of the great “productivity” push by large corporations, that, along with technology deployment, pushed profits and stock price gains to historic levels, and convinced Wall Street that things were so fantastic that the old valuation models no longer applied.
It all would seemed to have come to abrupt end in 2008 but Ben Bernanke found a way to cover up all the sins(there were many) with money printing and bailouts, and it was off to the races again. Here we are at the end of 2022 with the Dow at 34,000. It makes no logical sense, but perhaps the piper will have to be paid in full in 2023. Time will tell
Brian, the lower never suffer due to no action in the game. The upper never suffer due to never supplying the lower, but we the people are being brought down to the lower level due to the upper saying so....
We the people are locked and loaded, and ready to take back what we worked for our entire lives, and not BLM or ESG or MSN or CNN, nor ABC, Trump, Biden, Obama's, Clinton's and on and on...Screw em all!
We the people will prevail so long as we have our God granted right to Protect ourselves, and those around us:) Comeon you senile old moron, yes, you Mr so called President of this Banana Republic you and yours created.
I believe this time to be the beginning
of AMERICA, and the end of the inasanity we have wittnessed in the last 30 years
OK guys, I understand being loyal to friends, and yes, he does agree with most of what you say. However, come on guys, I thought we left this behind us!!! I read another newsletter person who said that interest rates would continue to rise until something broke!! Hmm, I'v herd that somewhere before. I'm getting unwanted emails, again, and don't like, "if you don't buy", this or that will happen. Bill, let the rest of your empire stand on it's own, and leave my little part of your empire alone!! I bought it and like small and tidy. Jim C
"For someone who wants his own species to go extinct, Les Knight is a remarkably happy-go-lucky human. Mr. Knight, 75, is the founder of the Voluntary Human Extinction movement, which is less a movement than a loose consortium of people who believe that the best thing humans can do to help the Earth is to stop having children. " NYT
Too bad this idiot doesn't "volunteer" to set an example and slit his throat...
In the 90’s, a Venezuelan soccer player inadvertently scored a goal for the opposition, he was murdered in a bar.
For may years, I have admired the ideas of Porter Stansberry. His analysis was usually spot on, delivered courageously, forcefully. He is a great teacher, has the ability to make complex concepts simple.
People like Porter are needed, the Information Age has provided tremendous opportunity; I have benefited, like Porter increasing his productivity, but the majority just access the stupid, over and over.
I watched the video “sales pitch”. First, the politicians are hell bent on stopping fossil fuels, then we’re supposed to invest in the fossil fuels that the politicians are hell bent on stopping. I missed the transition. And $1000 is too much.
I seen to remember before Porter disappeared for awhile that he posted a long video on crypto & if you didn’t get in the game you would be lost bc crypto, I think it was actually Bitcoin, was the future. What happened to that???
Great discussion.
Had a college professor way back in the 1970s that redefined GNP(now GDP) for his students. He said the official definition of GNP is that it represents the total value of goods and services produced by an economy(country) in one year. He said that is not what the statistic released by the government and called Gross National Product represents. He said a much more accurate definition of GNP is that it represents the “total value of money produced by an economy” in one year. He then described the disconnect between money and goods and services and the dangers to a national economy that occur when that disconnect grows too large. This was in 1978.
To add a bit to your discussion of productivity gains produced by technology starting in the early 1990s. They were real, but they ended up being part of the great wealth transfer from the lower and especially the middle class to the elite and to Wall Street. What became the upper middle class did benefit in terms of the rapid growth in the value of their 401Ks, IRAs, etc., but they didn’t benefit like the 1% or the 3% did, not even close. The average wage earner did not participate in the money harvest and the blue collar manufacturing worker was effectively eliminated. Recall that the technology revolution happened at the same time that America’s industrial base was gutted and manufacturing jobs sent to China. This was all part of the strategy, part of the great “productivity” push by large corporations, that, along with technology deployment, pushed profits and stock price gains to historic levels, and convinced Wall Street that things were so fantastic that the old valuation models no longer applied.
It all would seemed to have come to abrupt end in 2008 but Ben Bernanke found a way to cover up all the sins(there were many) with money printing and bailouts, and it was off to the races again. Here we are at the end of 2022 with the Dow at 34,000. It makes no logical sense, but perhaps the piper will have to be paid in full in 2023. Time will tell
Brian, the lower never suffer due to no action in the game. The upper never suffer due to never supplying the lower, but we the people are being brought down to the lower level due to the upper saying so....
We the people are locked and loaded, and ready to take back what we worked for our entire lives, and not BLM or ESG or MSN or CNN, nor ABC, Trump, Biden, Obama's, Clinton's and on and on...Screw em all!
We the people will prevail so long as we have our God granted right to Protect ourselves, and those around us:) Comeon you senile old moron, yes, you Mr so called President of this Banana Republic you and yours created.
I believe this time to be the beginning
of AMERICA, and the end of the inasanity we have wittnessed in the last 30 years
Tell us how you really feel. LOL. Kidding aside I feel the same.
Yeah, in 08 we solved a debt problem with more debt.
There's a simple solution here. Every environmentalist who sees human beings as a threat to the planet has a moral obligation to commit suicide...
Only certain human beings are a threat to the planet. They are the Useless Eaters, turns out to be 6 or 7 Billion of us, but of course not them
OK guys, I understand being loyal to friends, and yes, he does agree with most of what you say. However, come on guys, I thought we left this behind us!!! I read another newsletter person who said that interest rates would continue to rise until something broke!! Hmm, I'v herd that somewhere before. I'm getting unwanted emails, again, and don't like, "if you don't buy", this or that will happen. Bill, let the rest of your empire stand on it's own, and leave my little part of your empire alone!! I bought it and like small and tidy. Jim C
"For someone who wants his own species to go extinct, Les Knight is a remarkably happy-go-lucky human. Mr. Knight, 75, is the founder of the Voluntary Human Extinction movement, which is less a movement than a loose consortium of people who believe that the best thing humans can do to help the Earth is to stop having children. " NYT
Too bad this idiot doesn't "volunteer" to set an example and slit his throat...
It's obvious that the excess carbon the elites wish to eliminate is the middle class (i.e., us).
In the 90’s, a Venezuelan soccer player inadvertently scored a goal for the opposition, he was murdered in a bar.
For may years, I have admired the ideas of Porter Stansberry. His analysis was usually spot on, delivered courageously, forcefully. He is a great teacher, has the ability to make complex concepts simple.
People like Porter are needed, the Information Age has provided tremendous opportunity; I have benefited, like Porter increasing his productivity, but the majority just access the stupid, over and over.
I watched the video “sales pitch”. First, the politicians are hell bent on stopping fossil fuels, then we’re supposed to invest in the fossil fuels that the politicians are hell bent on stopping. I missed the transition. And $1000 is too much.
I seen to remember before Porter disappeared for awhile that he posted a long video on crypto & if you didn’t get in the game you would be lost bc crypto, I think it was actually Bitcoin, was the future. What happened to that???