phatom GDP do to offshoring

[evince]

http://tinyurl.com/3brj6g

Good article explaining how we are misreading GDP numbers and how the effects of offshoring are being miscalculated by the Bush admin.

 

[evince]

But the new numbers also require a reassessment of productivity and wages that could add fire to the national debate over the true performance of the economy in President Bush's second term. The official statistics show that productivity, or output per hour, grew at a 1.8% rate over the past three years. But taking the phantom GDP effect into account, the actual rate of productivity growth might be closer to 1.6%--about what it was in the 1980s.


This is why while the numbers seem good for the US the average American is feeling no benifit and is watching the job oppertunities disapear.

 

[cawacko]

http://tinyurl.com/3brj6g

Good article explaining how we are misreading GDP numbers and how the effects of offshoring are being miscalculated by the Bush admin.

Offshoring did not start in 2001. Do you think the GDP numbers were miscalculated prior to that as well?

 

[uscitizen]

Offshoring did not start in 2001. Do you think the GDP numbers were miscalculated prior to that as well?

Not sure, but one thing for sure bush is pro at cooking books. Touting a balanced budget plan while finiancing a war by supplememtal appropriations so it does not "show" on the books.