The Federal government downwardly revised GDP numbers that delineate a 1.6% growth; down from the initial projection of 2.4%. Since, both the Obama Administration and those opposed to his administration have been using this number to make their case that the economy is either growing slowly or failing to grow. The use of such numbers can be confusing and are easily used to mislead the general public (and often are during times where elections are at stake). Mega-investor, Jim Rogers, totally disregards GDP numbers; so, before anyone panics; let me give you the perspective that one of the world’s most successful mega-investor holds regarding GDP:
They are always revised;
Every government has different methodologies; and,
Most governments have no clue so they just make up the numbers.
Mr. Rogers, it seems, hold no import for these numbers, and in fact, appreciates how they can be and often are manipulated and used for things other than the truth. If you want to know how the economy is doing you have to look at many factors; not just one, and of the many factors available, this one is most likely the least reliable. The biggest indicator of economic growth is your certainty about your ability to extend or improve upon you current financial lifestyle.
If you are doing the best you can to be productive and remain employed and you feel your economic status is not good or stable; then you are most likely looking down the barrel of a poor economy. If you see your economic status as improving, then the economy is most likely moving upward and outward, or to quote Buzz Lightyear, to infinity and beyond. So, how do you feel your personal economics are doing?
