4.7 • 9.2K Ratings
🗓️ 8 September 2022
⏱️ 10 minutes
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0:00.0 | NPR. |
0:12.0 | This is the indicator from Planet Money, I'm Darien Woods. |
0:14.0 | And I'm Patty Hersch, just let me finish the set. |
0:17.0 | Wait, what are you doing, Patty? |
0:19.0 | I've got a podcast to make. |
0:21.0 | I'm just finishing a little workout here. |
0:23.0 | I know it's a little weird, but a gym is actually a great place to explain the metrics |
0:27.0 | that the Bureau of Economic Analysis uses to monitor growth. |
0:30.0 | You work out, Darien, don't you? |
0:32.0 | I've been to a gym probably a grand total of once in my life. |
0:35.0 | Well, now you may know what I'm talking about. |
0:37.0 | Hopefully some of our listeners do, and I say that most people who work out |
0:40.0 | use some very specific measurements to keep an eye on their physical growth. |
0:43.0 | For me, it's my weight and my muscle tone. |
0:46.0 | And for the United States of America, it's gross domestic product or GDP, |
0:49.0 | and gross domestic income or GDI. |
0:52.0 | Okay, I get where you're heading with this because usually these two metrics track each other very closely. |
0:58.0 | But at the moment, they are diverging quite sharply. |
1:02.0 | And that's because the government uses these metrics to determine how the economy is growing |
1:06.0 | and this whole divergence is throwing the Biden administration for a bit of a loop. |
1:11.0 | That's right. It's like, are we growing? Are we shrinking? |
1:14.0 | Are we getting more portly? Are we getting more emaciated? We don't know. |
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