GNP vs GDP

[Sassy]

Something you wont find in the NY Times.

PULLING THE WOOL OVER THE EYES OF THE AMERICAN PUBLIC

THE FRAUDULENT GDP

An Economic Message

from Irwin Schiff

July 24, 2008

          I don't exactly know when government statisticians started to use GDP (Gross Domestic Product) figures instead of traditional GNP (Gross National Product) figures. However, it is clear that a new index was contrived in order to hide from the American public how American wealth is vanishing, along with America's industrial base. For reasons explained below, if the government had continued using GNP calculations, it would have had to report a falling GNP. So to avoid having to do that, it concocted a new index- the GDP.

          Unlike GDP figures, the GNP included the value of all goods and services produced by American owned businesses, whether located here or abroad; while excluding from the index the productivity of foreign owned companies, even though they were located in the U.S. The reason for this is simple. The profit from American owned companies, whether located here or abroad, flows back to their American owners, enriching both them and the Nation. Similarly, the profits generated by foreign owned, domestic companies flow out of America to enrich their foreign owners and the countries in which they live. True, America does benefit from the wages that foreign owned businesses pay to their American workers, and those wages are reflected in, and may increase America's National income figures, but their productivity belongs to foreigners, not to Americans. Therefore it is absurd and deceiving to credit the American economy with the value of all the products produced here (as the GDP does) regardless of whether or not the company producing them is American or foreign. And not making this distinction hides the accelerating gobbling up of American companies by foreign interests, which is undoubtedly why the government switched from GNP to GDP.

Irwin Schiff 08537-014

Federal  Correctional Complex

P.O. Box 33

Terre Haute, IN 47808

[ScottA]

Good to see the government making progress finding new and better ways to lie to us.