I'm not even going to bother explaining to you what exactly a GDP means or anything. It would be pointless. Instead, I'll just go by exactly what you 'sais' and show where you're totally contradicting yourself. Then let you fumble about and try to explain it, while I lol.
Originally Posted by AniMeFaN
gdp is the final value of all goods produced in the nations borders,
You just said that GDP = total value of all goods PRODUCED
in the nation.
problem is we have a huge trade defecit for the 100th time, we consume way more than we produce,
Now you're saying, for the 100th time, that we consume more than we produce. Yet our GDP (total value of goods produced, according to you) is greater than out total debt.
And according to you, our debt is from:
all that debt we accumulated was for consumption, we borrowed money for consuming products, obviously when a ton of people borrow money and are willing to buy more products the producers are going to make more increasing gdp
Consumption. We borrow money to consume.
So according to you:
Debt = consumption.
GDP = Production.
And the problem we have, which you said 100 times, is that our consumption is greater than our production.
Yet the graph I posted (And I can get a ton more sources if necessary), states the opposite. Our production (GDP according to you) is greater than our consumption (debt according to you). So the problem we have, according to you, doesn't even exist.
Explain this blatant contradiction to me, oh grand sage of economics.