As this article in the New Yorker below) points out over the yeard more than a hundred standards have been proposed, from across the political spectrum, as alternatives to G.D.P. as our primary economic indicator.
I am not suggesting any particular one of them. I am simply advocating that we recognize GDP growth that comes from shrinking savings deposits is much much different from GDP growth that occurs organically, when savings deposits remain unchanged.(Such as when we become 1% better at producing something thereby beating out foreign competition.)
Note also the previous thread stating that 40% of American adults could not cover a $400 emergency such as a car fan belt breaking, or missing a few days of work due to health.
Fed survey shows 40 percent of adults still can't cover $400 emergency expense
