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Amazon Echo's Notification Feature 

By: Decomposed in 6TH POPE | Recommend this post (3)
Thu, 30 Nov 23 7:34 PM | 37 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 47894 of 58534
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My Amazon Echo lit up in green today. That means that a notification is pending.

Notifications are useful because they indicate something important or time-sensitive: The delivery of a parcel; The approach of an ice-storm or tornado. Today, for the first time, it reported on economics.


"GDP data shows the U.S. Economy grew 5.2% in Q3 - the fastest expansion pace since 2021. PCE data is released Thursday, a key inflation measure watched by the Fed."

Say what? I never told the echo to give me such reports. There's nothing urgent in it. Nor is it time-sensitive. This is just something POLITICAL being shoved down my throat (and, doubtless, down the throats of millions of other Americans) by Jeff Bezos... known liberal and owner of the liberal news rag, The Washington Post (which I bet is also promoting this story to its handful of readers.)

I find it galling. Most people don't understand the GDP and think that a rising GDP indicates economic health for the nation. Such thinking is wrong.

GDP is a summation of output by an economy within a specified period, usually a year. The formula is Personal Consumption + Business Investment + Government Spending + Net Exports (exports minus imports.) The big jump in reported Q3 GDP is ENTIRELY due to Business Investment and Government Spending. The other two components are down. Since Personal Consumption comprises 70% of GDP, the two that are up are clearly waaaaay up.

Now, think about Government spending. Where does Government get its money? From taxes and from the issuance of debt. From CBPP.org, "In fiscal year 2023, the federal government is estimated to spend $6.3 trillion, amounting to 24.2 percent of the nation's gross domestic product (GDP)."

In fiscal 2022, federal spending was equal to 23% of the total gross domestic product (GDP). So, even though government spending makes up less than a quarter of the GDP, it rose by enough in one year to lift the whole GDP by 1.2 percent - or maybe by more if the GDP would otherwise have fallen.

The fact is, an increase in government debt can lift the GDP even when the other three components are all negative. This is why the GDP, in and of itself, is a terrible indicator of economic vitality.

In 2023, the rise in GDP isn't a sign of economic health. It's a sign of disease. And the fact that Jeff Bezos is shoving the news down my throat, announcing it in everyone's living rooms knowing full well that most won't understand the report, ticks me off to no end.




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months

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