SHOCK: GDP Down Worst-Ever 32.9%

in world •  12 days ago 

SHOCK: GDP Down Worst-Ever 32.9%

2nd-quarter GDP numbers are the worst since World War II, with the US economy contracting an annualized 32.9%, as new unemployment claims increase for the second week in a row

Can you believe this?

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There is a general problem with GDP is that is not often reflecting developments with "real economy". This why other measurements such as Quality of Life (QOL) are much better, precise and comprehensive. I mean, GDP can look higher when there are more hedgefond investments or financial clouds comparing to QOL that is not measuring higher costs due to car accidents as improvement of GDP.