US GDP is a lie and inflation is going much higher claims Peter Schiff

Posted on 22 August 2013 with no comments from readers

Controversial money manager Peter Schiff reckons that the GDP of the US is closer to $13 trillion than the official government number of $16.6 trillion. That’s the true impact of the recession and the surge in food stamp claimants.

Trading is the best job to do from home and earn more profit. It is a comfortable job for many people like home makers. But, some trading skill is needed for it because the trading market will have both rise and fall. So, the traders should be capable of handling it. GDP is nothing but Gross Domestic Product. It is just a value given to the products produced within the country. The prices will be fixed by the market. This will be calculated on a regular basis, it may be quarterly or annually. The GDP value is inclusive of all the public and private consumption, government outlays and investment.

GDP is just a measure of the economic activity of the nation. Usually the GDP value will indicate us the economic condition and growth of the country. GDP is a common measurement of all countries and so it will be very useful to compare the productivity and economic status of all the countries. The inflation and deflation can be easily find out by comparing the production in the current year and the production in the last year. GDP value is also useful to improve the productivity and to expand the economic growth.

GDP can be determined by three ways and all the three ways should result the same. The three ways are as follows.

  1. Expenditure approach
  2. Output approach
  3. Income approach

The expenditure approach is also called as spending approach and it is commonly used approach. It is to calculate the amount spent by different groups which are participating in the economy. It also includes export and import charges. The output approach is just the reverse of the expenditure approach. The income approach has some taxes for adjustments like sales tax and property tax.

Thus conclude that business includes both inflation and deflation. There are many sites available to know more about the GDP value changes in the market. We can also get to know about the economic growth of all the countries and how GDP values can be measured easily.

He thinks the US will have no alternative but to print a great deal more money and drive inflation higher to pay off its debts…