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No, JayPo, The GDP Bathtub Is Not A Thing

Summary:
It all boils down to seeking to fill the bathtub of GDP full to the brim. That’s what central bank money-pumping is all about, even to the extent that the Fed’s so-called dual mandate—full employment and price stability—has been redefined to essentially a unitary objective. That is to say, back in the day price stability […]

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It all boils down to seeking to fill the bathtub of GDP full to the brim. That’s what central bank money-pumping is all about, even to the extent that the Fed’s so-called dual mandate—full employment and price stability—has been redefined to essentially a unitary objective. That is to say, back in the day price stability […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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