|
Post by cye on Sept 3, 2013 16:03:29 GMT -5
|
|
|
Post by cye again on Nov 3, 2013 10:30:24 GMT -5
|
|
|
Post by cye on Jan 29, 2014 18:12:03 GMT -5
Here's a reasoned case (at least so it seems to me!) for viewing GDP figures with scepticism and suspicion, given that borrowing is never deducted from the GDP figures: m.freedomworks.org/blog/lheal/the-gdp-seductionI did a quick scan this evening of the UK GDP figures. My interest was up in the light of the recent announcements of a rapid jump in UK growth (GDP growth). UK GDP is around the £1200bn mark.Govt borrowing is increasing from year to year by about £95bn, UK household debt is increasing by £1.5bn/month or roughly £20bn/year. So, total UK borrowing is increasing by perhaps £115bn pa. The Govt and IMF forecasts growth of 2.4% or £28bn. Now what if we deducted the total annual household and govt borrowing figure? Well, that would convert the + growth figure into a negative figure not far off 10%. I know it's all a bit schoolboy in its simplicity, but it does seem like we don't really have any growth at all, other than growth in spending which is funded mainly by borrowing.
|
|