Whoa, -12% GDP? I don’t know how that could be possible and be able to survive.
I wonder what it was that acoounts for the 8% rise from 2010 - 2012...more funny money or accounting tricks?
GDP = C + G + I + NX
C = all private consumption, or consumer spending, in a nation’s economy
G = sum of government spending
I = sum of all the country’s businesses spending on capital
NX = Exports - Imports
Since G Is total Governmental spending,
it does NOT include deficit accrual,
which is removed from total worth
The Government borrowed money like a drunken sailor
to prop up the GDP numbers
Similarly, Private Citizens borrowed indiscriminately
to prop up their lifestyles (a trend that is changing)