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Re:Atlanta Fed predicts -2.8% GDP by JumpCrisscross on Monday March 03, 2025 @04:05PM (#43246684)
> I'll write a poem and sell it to you for $50 trillion and you draw a picture and I'll buy it for $50 trillion from you. We could get this done today and bump GDP by $100 trillion

Nominally, yes. Real, no. (In practice, given the barter resemblance of the trade, there would be no impact.)

Re:Atlanta Fed predicts -2.8% GDP by gitfan86 on Monday March 03, 2025 @04:44PM (#43247198)
Why is it real GDP when a government contractor makes a PDF report, but isn't real GDP when I make a poem?
Re:Atlanta Fed predicts -2.8% GDP by sunnyps on Monday March 03, 2025 @05:03PM (#43247398)
Because money paid to the government contractor results in a person (persons?) getting paid along the way and then a large part of that flows into the real economy via consumption / spending.

In your $50 trillion poem example, no money can possibly flow into the real economy because you simply do not have $50 trillion to pay anyone - you're just describing a wash trade of a worthless $50 trillion IOU note not unlike a NFT or crypto memecoin. Best case is that the poem is worth something non-negative.

Re:Atlanta Fed predicts -2.8% GDP by zellyn on Monday March 03, 2025 @04:48PM (#43247234)
That's the point.
Re:Atlanta Fed predicts -2.8% GDP by JumpCrisscross on Monday March 03, 2025 @04:49PM (#43247250)
GDPNow tracks real GDP.
Re:Atlanta Fed predicts -2.8% GDP by zellyn on Monday March 03, 2025 @04:54PM (#43247297)
Ah, thanks! Interesting. How does it know which is Real and which is poems?
Re:Atlanta Fed predicts -2.8% GDP by insane_dreamer on Tuesday March 04, 2025 @03:37PM (#43259582)
Ask DOGE ;)