resources and they used them for something that did not pan out you know it's not as simple the g.d.p. measures activity you cut by lot i cut your launch activity but what really counts is not activity it's sensible investment it's using resources we only have so many hours in the day we only have so many neurons that can fire we only have so many thoughts we only have so much energy if we use it well we become wealthier if we use it badly we become poorer and me building a bridge that's a pretty dumb way to spend use your resources doesn't work is there any gauge to show how the u.s. is doing on this or how any country is doing on this for that matter conny well i mean you should look at wages look at real wages the per the amount of money that a person earns per hour it tells you whether his effort is paying off real wages not just phony you know dollars that isn't going to get it how do you how do you look at real wages that well you have to you have to adjust them for inflation which is already pretty tricky because you can't trust the alien driver employees to have a say about it but you h

g.d.p. numbers this number is supposedly adjusted for what john williams at shadowstats thinks is an accurate measure of inflation and as you can see his view of g.d.p. he has a negative territory this is the official one so but perhaps more meaningful is to step back and think about what is worthwhile in an economy as robert f. kennedy so eloquently did at the university of kansas in one nine hundred sixty eight and we should consider this. no product. and figure out avatar. amulet to clear our way of carnage with the growth of the product it's not about but hope of our children a poem they have never made of enjoying their play. eloquent words to end on so as many look to g.d.p. is an indicator of health for the u.s. economy recall that economic wellbeing not to mention a distinction between sustainable and malignant growth is not what g.d.p. is intended to measure and that is a reality check. up with loose change dimitri google has come out with a new worldwide alternative reality game called ingress the games designed to allow people to move to real world scenarios while collecting pockets of ene

g.d.p. as a measure of the economy's health at all we'll discuss and earlier this week we asked the natural commentator peter schiff about his hyper inflation calls. i know that you're saying you can't predict when this is going to happen but why haven't we seen that happen well you know i guess i still say the hyperinflation is the worst case scenario. that interview received traction from a certain new york times economist will discuss in loose change let's get to today's capital account. today we'll forget about the fiscal cliff for a moment and talk about some other deadlines approaching that may create a potential regulatory cliff for investors threatening that they may fall off unless they seek the safety of government debt i'm talking about changes in f.d.i.c deposit insurance as just one example and while investors may be perched on what we're calling a regulatory cliff of sorts big banks are able to crawl back from the ledge with the help of timothy geithner's treasury geithner is making some major moves before he has for the door and one which we've seen recently is the final word

g.d.p. as a measure of the economy's health at all we'll discuss and earlier this week we asked financial commentator peter schiff about his hyper inflation calls. you know that you're saying you can't predict when this is going to happen but why haven't we seen that happen well you know i still say there.

g.d.p. as a measure of the economy's health at all we'll discuss and earlier this week we asked the natural commentator peter schiff about his hyper inflation calls. i know that you're saying you can't predict when this is going to happen but why haven't we seen that happen well you know i guess i still say the hyperinflation is the worst case scenario. that interview received traction from a certain new york times economist will discuss in loose change let's get to today's capital account. today we'll forget about the fiscal cliff for a moment and talk about some other deadlines.

g.d.p. as a measure of the economy's health at all well discussed and earlier this week we asked the national commentator peter.

g.d.p. over and two is a valid measure of velocity of money what if the money is exchanged in a way that doesn't impact the g.d.p. we need to keep in mind that these calculations are just surrogate markers for the rate of circulation of money calculations that could be seriously flawed so even with thanksgiving shoppers shelling out for cheap gadgets faster than you can say door buster adding up to thirteen percent more in total spending the last year according to the national retail federation remember money velocity is actually very low and now you know why it matters. ok let's wrap up with loose change dimitri kofi and as our producer is here to talk about iran. the u.s. and its allies are trying to force iran's leaders to abandon their nuclear program they're using sanctions that include an oil embargo and bans on transactions with the iranian central bank. so there is a typical mainstream headline you would have seen over the past year or more having to do with u.s. sanctions against iran well how about this though here's an unintended consequence turkey on friday acknowledged a surge in hi

paying down greece's debt after these new austerity measures greece's current debt ratio will soar from one sixty five one hundred sixty five percent of g.d.p. which is where it is now to one hundred ninety percent of g.d.p. making it even more difficult the long run to pay down any debts on top of that the economy is projected to contract for a half percent in two thousand and thirteen compared to the previous prediction before the austerity got really ramped up to three point nine percent and all this is happening six years after the economic crisis began what most americans fail to understand some europeans are just starting to realize is that the goal of the corporate masters in their austerity regime is not to make life better for the greek people instead the goal of the globalist pushing these austerity agendas is to bust up organized labor and privatized the assets of the country to turn greece into a libertarian paradise with no pesky organized labor and corporate fat cats profiting from what used to be public places and public services if they're successful greece will be run by transnational c.e.o.'s via the european union in the

g.d.p. by next year that's much higher than it was with the first bailout plan was agreed and this shows that the recession that these measures are producing they are making the debt situation worse because the economy is being conforms to contract or otherwise in the words to collapse and as a result the debt ratio in terms of racial e.p. is going up so these measures are making things worse and if you ask me whether the economy is beyond repair no it would be that many other countries have found themselves in this position before russia argentina and so on in one thousand nine hundred ninety s. and what they did was to devalued and default and to to devalue their way back into a competitive ety and all the economic history shows that that works the reason why it's not being adopted it's because of this attachment to the european ideology that i mentioned all right well you know some kind is out of this league doing something to remedy the situation and let's now target a. german chancellor a visit to portugal which is another struggling because under a canonical way and later in the day she will be in the country where thou

to the measures she was actually in could be used to usually the and these are expected to reach in front of them sixty percent of g.d.p. by two thousand. and the same tone. decreased by fifty to forty percent unemployment here is thirty five percent unemployment fifty five percent true that it's forty percent sure it's clear that we should all do still not work and i don't think we should really. come to chicago and be gone judging from how many people voted for a woman under the figures that you just named there are quite actually dramatic and the state of economy seems to be extremely dire there but the question here is where are we going to see the light at the end of the tower i mean as we know the greek prime minister promised that the last two rounds of belt tightening will be the last ones for the country. actually they get it but i mean is that and over to get by i mean. that he or she has been promising the same thing. but i don't think it looks really good because we always get the new launch you should reach out and let me remind you that the following is that i'm doing some other issues the show but i only