True GDP – Q4 2008
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The True GDP has fallen to 15.38 billion gold ounces in Q4 of 2008. This is a decline of 12% from 1 year prior. Considering how dire the situation is it is not unrealistic to assume that it will go as low as it did in 1980.
The most noteworthy items in the new GDP number are personal consumption expenditures which have begun to fall from the previous quarter’s level for the first time since 1958 (!) . This marks an epic shift in American consumer behavior and is consistent with the consumer credit contraction that has already begun and will continue throughout the next years.
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Related posts:
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- True Money Supply – September 09th 2008
- True Consumption as Percentage of GDP
- Gross Domestic Product Q4 2009 Updates; True GDP & Consumption as Percentage of GDP
- The True Gross Domestic Product
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- The Junkie Marches On …
- True GDP Q4 2009 – Down 15.4 %
- True Gross Domestic Product Q2 2009 – Down 5.8%
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