If the US GDP report taught us anything at all overnight, its that we're pretty silly focusing on GDP itself is as a measure of increasing...

If the US GDP report taught us anything at all overnight, its that we're pretty silly focusing on GDP itself is as a measure of increasing prosperity. C+I+G+(X-M) is taught on Day 1 of just about every economics class room But really, does rising GDP in and of itself mean we are better off. Pay a man $10 to dig a hole, and another man $10 to fill it in and GDP grows, but anyone with half a brain knows you've just blown $20 and gone nowhere. The US GDP result was a perfect reminder, downgraded to -2.9%, off the back of a huge revision to healthcare spending, which subtracted -1.2% relative to prior estimates Maybe I'm missing something, but to me the less society needs to spend on healthcare the better? Full article here (VIEW LINK)