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neville
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The fallacies of GDP - Alasdair Macleod - Finance and Eco.

Hello Ali Baba, You bring up a good point .....Now is some more food for thought.....None of the others in that catagory are of any consequence
to me and they are PPI ,CPI,M1,M2 etc as they are subject to S.I.S.O. .........All of the contributors to the make up of this economic data are all
full of lies ....So what good is there in looking at them.Mark Carney and his cronies in the UK fudge those figures so good and solid that they came up with ZERO
INFLATION ....taking things from the rediculous to the sublime

Commented 3239 days ago

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Beginning of the headline :The common error of confusing growth with progress goes largely unnoticed, though it permeates all macroeconomic analysis. There is no better example of this mistake than the fallacies behind the interpretation of Gross Domestic Product. GDP is the market value of all final goods and services in a given year. As such, it is only an accounting identity reflecting the quantity of money in the economy. Econometricians constructing GDP have devised a sterile statistic that should not be used to set... Read More

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