Dear President Donald Trump
My apology for sending in three parts my No.1 letter of 28/11/2024.
GDP is long past its use-by-date as a measure of the Economic Performance of Nations around the World. This is because it fails to measure the Financial Sector which has become dominant with imports replacing value-added manufacturing, mining and production and no or little value-adding of exports of minerals, energy and produce.
The only time something has a value is when there is a change of ownership, at an open market price, between a seller and a buyer.
This is the true and equitable measure of Economic Performance.
Tax, direct and indirect, is measured as a % of GDP but this ignores the economic value of the Financial Sector. This has enabled vast sums of money to be accumulated into few hands that is used for self and vested interests and NOT the beneficial interest of ALL of the People of a Nation.
NOW is the time to change to measuring Economic Performance at the open market value of All Changes Of Ownership into, within and out of a Nation i.e. ACOO to replace GDP.
Kind regards
Derek Smith CA