Sunday, February 15, 2009

Aw come on!

Gross Domestic Product (GDP) is a number that represents the value of all the goods & services produced by a country. You basically add up the cost of every single thing that's sold.

It seems that the US government now has debts and obligations that total more than the GDP for the entire planet.

Keynsian economics (named for early 20th century economist John Maynard Keynes -- for some reason pronounced "canes") dictates that during a recession or a depression, you have to "spend your way out," even if it means running up bigger debts.

Well, Mission Accomplished then.

I'm actually thinking of adopting Keynsian principles at home. Uh-oh, our debts are getting to big! We'd better go spend some money! We need to stimulate our household economy! At least until our debts exceed the total income of everyone in our community. Maybe we can even start doing some of our own quantitative easing with our inkjet printer and some good paper!

Seriously, what could go wrong?



At 2/17/2009 11:20 AM, Blogger thenn said...

The picture makes the post. :)

At 2/17/2009 1:33 PM, Blogger Wendy said...

Yeah, I keep saying that if I handled my household finances the way the government does, I'd be in jail.

Keyne slew Able, right?

I know, spelling ;).


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