Here’s the astonishing thing: As your cost of living increases, GDP increases too! That’s right – higher bills means “increased economic activity” which is often interpreted as a booming economy.
Do you feel wealthier at the grocery store, when your trip costs you 25% more than it would’ve in 2020?
Here’s the reality: Higher GDP has nearly no correlation to prosperity. When you look at real-world changes in cost of living, we simply aren’t more prosperous than we were five years ago.
I disagree.
It's not GDP that's a illusion, it's the Fiat money that makes it look like so. I wish the title were "Fiat-GDP Illusion".
Why?
Because GDP is an economic concept, it'll always remain even under a Bitcoin Circular Economy.
And yeah those who think that there won't be a government. I'm sorry there will forever be, even for BCEs, but it won't/can't scam on its people.
It's the culprit Fiat that allows the institutions like governments, centralised agencies, and banks to easily runaway with the money for which the masses work. Fiat money simply allows all of it happen and that's what needs to be hanged, instead of curating content outta hour long futile talks or books that noone read on the topic of GDP Illusion.
[