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FSN: When All Else Fails, Change The Accounting Rules: US GDP To Rise 3% In July
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
[Ed. Note: The problem with the economy is that the definition of GDP is too broad. We need to write sensible laws that will make us wealthier. ~Kerry.]
by Anthony B. Sanders
Confounded Interest
This is the worst economic recovery since the Great Depression. And the global economy is slowing. [...]
But never fear! The US economy will gain 3% in GDP in July … by changing the accounting rules!
GDP will now include 1) Research & Development, 2) Artistic Originals and 3) Pension Accounting among other items. These additions will add 3% to GDP or about $500 billion.
Artistic originals? Treating artistic production as capital investment would change BEA’s measures of GDP and capital stock. Artistic production was $51.6 billion in 2007, 0.35 percent of GDP.
So, Ben Affleck’s acting in Reindeer Games counts towards GDP??
Continue Reading at ConfoundedInterest.Wordpress.com…
2013-04-22 02:45:37
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