Growth is Dead – Fed’s in TroubleGoing to be ugly in the markets today: Seat-backs and tray tables to their upright and locked position.
LOL) Hot-button pressing is “in” since we have no hot new tech driving real growth.
The downside is our economic model collapses in a heap at zero – and worse, God forbid, negative growth rates.
Blair Fix and Johnathan Nitzan address this in a 2019 paper “Real GDP: The Flawed Metric at the Heart of Macroeconomics.” Particularly cogent as they put forth in their abstract:“We argue that real GDP is a deeply flawed metric.
Moreover, few economists seem to realize that real GDP is based on a non-existent quantum-utility.

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