Suit yourself. I was replying to anecdotes with anecdotes - note that the quotes you gave do not actually bring anything to the table (neither do mine).
But I do urge you to read denninger. You will very likely disagree with him (I'm not sure if I agree with him), but he is consistent, and is very well supported by data. Whether you accept the axioms or not is up to you. As far as track record with predictions go, he has a significantly better one than essentially all mainstream media.
Ask yourself why you accept the GDP growth is real. If you do just because everyone else does, without looking at the numbers and at alternative explanations - that's religion. Which is fine - none of us has time to evaluate every single thing we believe in. But it is important to acknowledge it for what it is.
And for that matter, ask yourself why you accept GDP as a measure of growth and welfare - Kuznets, the person who came up with the definition thinks you shouldn't.
The fact that if Shadowstats' figures are correct, we didn't have a housing bubble and have been in a 30-year recession are far from anecdotes. As is Williams admission (referenced in the Aziz piece) that he doesnt actually calculate the figures using the old methodology but rather just adds an arbitrary factor to the CPI data.
I 'believe' that GDP is higher and inflation is in check because I can buy a 60" LCD for $400, a hybrid car that gets 45mpg and will last 200k miles for $18k, I can get a 30-year mortgage for well under 4%, my cell phone is faster and more capable than a 5-year old laptop, I can get any physical good delivered to my door in 12 hours, doctors can perform miraculous procedures at podunk hospitals with fantastic success rates, and there are free courses available from the best schools on the planet in just about every subject.
Do I have to work longer hours than my parents did for a similar quality of life? Perhaps, but it seems like that is far more likely due to globalization and the fact that there are billions of people participating in the global economy rather than some conspiracy. Do I think GDP is a perfect measure of growth or welfare? Not especially. I think median household income combined with hours worked is a better gauge but that doesn't mean the GDP stats are useless.
I'll gladly read some Denninger but I'm not sure how you explain the massive global shift from abject poverty to something resembling a first-world existence without economic growth.
But I do urge you to read denninger. You will very likely disagree with him (I'm not sure if I agree with him), but he is consistent, and is very well supported by data. Whether you accept the axioms or not is up to you. As far as track record with predictions go, he has a significantly better one than essentially all mainstream media.
Ask yourself why you accept the GDP growth is real. If you do just because everyone else does, without looking at the numbers and at alternative explanations - that's religion. Which is fine - none of us has time to evaluate every single thing we believe in. But it is important to acknowledge it for what it is.
And for that matter, ask yourself why you accept GDP as a measure of growth and welfare - Kuznets, the person who came up with the definition thinks you shouldn't.