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GDP ....really? - 10/31/2012 6:08:40 AM   
mnottertail


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Joined: 11/3/2004
Status: offline 		lets say our gdp consists of one transaction

A Wal-Mart store sells a tv made in China.

They sell it for $100 dollars.
They pay China $66 dollars.
The consumer pays the sales price plus:
$5 in sales tax.

So, the transaction is $105 dollars.

What is the GDP? 


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RE: GDP ....really? - 10/31/2012 6:16:49 AM   
Yachtie


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Status: offline 		Lets see. By formula C+I+G+(X-i) so C 100 - i 66 = 34




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RE: GDP ....really? - 10/31/2012 6:22:31 AM   
crazyml


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Status: offline 		I think it would be$34 or $39.

As GDP includes the addition of net exports, so the value of the next exports in this transaction is -66

I can't for the life of me figure out with the the sales tax is removed or not.

In any case, I'm certain my answer is wrong and look forward to learning what the right answer is.


[ED to correct the basic cock-up in my maths. (the inability to subtract 66 from 100)]


< Message edited by crazyml -- 10/31/2012 6:28:39 AM >

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RE: GDP ....really? - 10/31/2012 6:26:52 AM   
mnottertail


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Status: offline 		http://en.wikipedia.org/wiki/Gross_domestic_product

http://www.mindtools.net/GlobCourse/formula.shtml

34.  Is that your final answer?



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RE: GDP ....really? - 10/31/2012 6:28:00 AM   
Yachtie


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quote:

ORIGINAL: mnottertail

http://en.wikipedia.org/wiki/Gross_domestic_product

http://www.mindtools.net/GlobCourse/formula.shtml

34.  Is that your final answer?





Given your OP parameters, yes.

edit: ahhh, you trickster... it's solely i... GDP is negative 66...

my bad

< Message edited by Yachtie -- 10/31/2012 6:35:24 AM >

_____________________________

“We all know it’s going to end badly, but in the meantime we can make some money.” - Jim Cramer, CNBC

“Those who ‘abjure’ violence can only do so because others are committing violence on their behalf.” - George Orwell

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RE: GDP ....really? - 10/31/2012 6:37:52 AM   
DesideriScuri


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quote:

ORIGINAL: Yachtie
Lets see. By formula C+I+G+(X-i) so C 100 - i 66 = 34


Any idea where you can get that info easily? I would love to see how that gets broken down.

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RE: GDP ....really? - 10/31/2012 6:41:04 AM   
mnottertail


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quote:

ORIGINAL: Yachtie

quote:

ORIGINAL: mnottertail

http://en.wikipedia.org/wiki/Gross_domestic_product

http://www.mindtools.net/GlobCourse/formula.shtml

34.  Is that your final answer?





Given your OP parameters, yes.

edit: ahhh, you trickster... it's solely i... GDP is negative 66...

my bad


Now add in a $638 Billion military budget.

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RE: GDP ....really? - 10/31/2012 7:06:46 AM   
tweakabelle


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quote:


Now add in a $638 Billion military budget.


Easy. That's $638,000,000,000 + 66 = $638,000,000,066.

Or is it -66? ..... $638,000,000,000 - 66 = $637,999,999,934.

Hmmmmmmm! Not too sure but one of them is bound to be right!

Maybe the best idea is to dump the military and stick with the TV. At least that way you are getting something for your dollar. And you get to keep the $638 billion to spend on something useful instead.

< Message edited by tweakabelle -- 10/31/2012 7:09:21 AM >

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RE: GDP ....really? - 10/31/2012 7:12:36 AM   
Yachtie


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quote:

ORIGINAL: mnottertail

quote:

ORIGINAL: Yachtie

quote:

ORIGINAL: mnottertail

http://en.wikipedia.org/wiki/Gross_domestic_product

http://www.mindtools.net/GlobCourse/formula.shtml

34.  Is that your final answer?





Given your OP parameters, yes.

edit: ahhh, you trickster... it's solely i... GDP is negative 66...

my bad


Now add in a $638 Billion military budget.



You mean all those military components 'Made in China'?

_____________________________

“We all know it’s going to end badly, but in the meantime we can make some money.” - Jim Cramer, CNBC

“Those who ‘abjure’ violence can only do so because others are committing violence on their behalf.” - George Orwell

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RE: GDP ....really? - 10/31/2012 7:22:42 AM   
mnottertail


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Status: offline 		Yep, it is all part of the GDP calc.  We see the large sinkhole in outsourcing though, hah?   A paper economy when we look at it.  And has been some time. last big depression imports were about 4% of our GDP when demand dropped off the face of the earth.   Anybody wonder why it is taking so long to get up to speed these days?

And domestic corporations ain't helping create a strong and vibrant economy, if anything they are sinking it.  

People need to read that 'invisible hand' shit again and see if they can understand it this time, having fucked it up so soundly last time.

< Message edited by mnottertail -- 10/31/2012 7:25:01 AM >

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RE: GDP ....really? - 10/31/2012 7:24:19 AM   
crazyml


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Status: offline 		Alright... put me out of my misery... how does it get to -66?

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RE: GDP ....really? - 10/31/2012 7:36:50 AM   
Yachtie


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quote:

ORIGINAL: mnottertail

Yep, it is all part of the GDP calc.  We see the large sinkhole in outsourcing though, hah?   A paper economy when we look at it.  And has been some time. last big depression imports were about 4% of our GDP when demand dropped off the face of the earth.   Anybody wonder why it is taking so long to get up to speed these days?

And domestic corporations ain't helping create a strong and vibrant economy, if anything they are sinking it.  



Outsourcing is a sinkhole, but one cannot discount the why of it. It's not just the Rs but the Ds too. The business environment in the US today is NOT conducive to economic expansion. If it were would businesses leave? No! Look at California. Businesses are leaving in droves due to California policies concerning business. High taxation, high regulation, a virtually designer social / political / business environment that Capital flees.

This is what pisses me off so much about leftists / progressives. They want it both ways as their ideology states it should be. That ideology and Capital are oil and water. They do not mix.

_____________________________

“We all know it’s going to end badly, but in the meantime we can make some money.” - Jim Cramer, CNBC

“Those who ‘abjure’ violence can only do so because others are committing violence on their behalf.” - George Orwell

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RE: GDP ....really? - 10/31/2012 7:38:03 AM   
Yachtie


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quote:

ORIGINAL: crazyml

Alright... put me out of my misery... how does it get to -66?



Nothing domestic was produced. Only 1 import. Imports are a negative. Thus -66.

_____________________________

“We all know it’s going to end badly, but in the meantime we can make some money.” - Jim Cramer, CNBC

“Those who ‘abjure’ violence can only do so because others are committing violence on their behalf.” - George Orwell

(in reply to crazyml)
Profile   Post #: 13
RE: GDP ....really? - 10/31/2012 7:50:09 AM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline 		the $5 tax was produced (sort of my point).  People got wages out of that $34.  It all went somewhere.

< Message edited by mnottertail -- 10/31/2012 8:00:01 AM >

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Have they not divided the prey; to every man a damsel or two? Judges 5:30


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RE: GDP ....really? - 10/31/2012 7:54:21 AM   
crazyml


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quote:

ORIGINAL: Yachtie


quote:

ORIGINAL: crazyml

Alright... put me out of my misery... how does it get to -66?



Nothing domestic was produced. Only 1 import. Imports are a negative. Thus -66.


Argh!


_____________________________

Remember.... There's always somewhere on the planet where it's jackass o'clock.

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Profile   Post #: 15
RE: GDP ....really? - 10/31/2012 7:57:22 AM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline
quote:

ORIGINAL: Yachtie


Outsourcing is a sinkhole, but one cannot discount the why of it. It's not just the Rs but the Ds too. The business environment in the US today is NOT conducive to economic expansion. If it were would businesses leave? No! Look at California. Businesses are leaving in droves due to California policies concerning business. High taxation, high regulation, a virtually designer social / political / business environment that Capital flees.

This is what pisses me off so much about leftists / progressives. They want it both ways as their ideology states it should be. That ideology and Capital are oil and water. They do not mix.


This is what pisses me off about rightists/regressives.They really have no facts at hand and speak of fantasy like it has commerce with reality.

Looks like state problems to me in California, they are still in the Fed.

No such ideology exists as you say it states.  Capital be damned.   Demand. Demand. Demand.  And why are so many many many companies headquartered in the US?  Location. Location. Location.

The State's rights asswipe is the fucking enemy.

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Have they not divided the prey; to every man a damsel or two? Judges 5:30


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RE: GDP ....really? - 10/31/2012 8:04:34 AM   
Yachtie


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quote:

ORIGINAL: mnottertail

the tax was produced (sort of my point). 



Nope. The tax was extorted (by law) as an added cost to the transaction. You could remove the tax and still have the transaction. You cannot remove the transaction and still have the tax.

edit: TVs are produced. Cars are produced. Housing is produced. Condoms are produced. Now, who produces Tax and what does it sell for?

< Message edited by Yachtie -- 10/31/2012 8:09:23 AM >

_____________________________

“We all know it’s going to end badly, but in the meantime we can make some money.” - Jim Cramer, CNBC

“Those who ‘abjure’ violence can only do so because others are committing violence on their behalf.” - George Orwell

(in reply to mnottertail)
Profile   Post #: 17
RE: GDP ....really? - 10/31/2012 8:08:23 AM   
mnottertail


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Status: offline 		Nope.  That may be some regressive blowholing ideological asswipe, but the calculation is not agreeable.  The tax (regardless of ideology) was produced domestically.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


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RE: GDP ....really? - 10/31/2012 8:11:00 AM   
Yachtie


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quote:

ORIGINAL: mnottertail

Nope.  That may be some regressive blowholing ideological asswipe, but the calculation is not agreeable.  The tax (regardless of ideology) was produced domestically.



lmao...

TVs are produced. Cars are produced. Housing is produced. Condoms are produced. Now, who produces Tax and what does it sell for?

Where might I purchase some? Could it be FedEx'd to me?


< Message edited by Yachtie -- 10/31/2012 8:14:17 AM >

_____________________________

“We all know it’s going to end badly, but in the meantime we can make some money.” - Jim Cramer, CNBC

“Those who ‘abjure’ violence can only do so because others are committing violence on their behalf.” - George Orwell

(in reply to mnottertail)
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RE: GDP ....really? - 10/31/2012 8:14:39 AM   
Moonhead


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Status: offline 		Where does the money from the production go if none of it is being produced domestically?

< Message edited by Moonhead -- 10/31/2012 8:23:58 AM >

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