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By A Smith (anonymous) | Posted September 02, 2009 at 23:21:04
JonC >> GDP is a fictional assessment at this point in time as any increase in the given time frame is the result of debt increase.
Issuing debt does not automatically increase/decrease the output of goods and services. For example, if you loaned me $1 million to start a tech company, I am pretty sure I would take that money and produce nothing of value. However, if you gave that same $1 million to Johnny Genius, who has discovered a way to make computers for $20 a piece, that debt would be responsible for increasing GDP.
Debt is nothing more than a promise to pay back money that one person lends to another. By itself, debt can't produce one single unit of useful goods and services, all it tells us is that there are people with good ideas and there are other people willing to finance them.
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