Posted on 04/22/2013 3:21:57 AM PDT by DAC21
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The US economy will officially become 3 per cent bigger in July as part of a shake-up that will see government statistics take into account 21st century components such as film royalties and spending on research and development.
Billions of dollars of intangible assets will enter the gross domestic product of the world’s largest economy in a revision aimed at capturing the changing nature of US output.
(Excerpt) Read more at ft.com ...
Later today, I will buy a mansion and a yacht.
I will too. But they will be “ intangible “....
Hey while your add it, why not add "Good Will" too! Woohoo! Can't create real growth so lets change all standards and standards of value....
I read this article this a.m. they are also going to add R & D, WT_ ? Are you serious? Sometimes R & D takes 20 years before something come to fruition, up to that point it is an on-going expense that may never come to fruition.
“will see government statistics take into account 21st century components such as film royalties and spending on research and development.”
Lol, what a sham. Film royalties and spending on R&D have been around for hundreds of years.
David Axelrod’s fingerprints are all over this “data shift”.
There’s always the happiness index. :)
If it comes from the Mininstry of Financial Information, it must be true.
This makes a LOT of sense. It will make GDP’s of more countries more comparable with each other, and easy to compare, making apples once again comparable to apples. No longer will it be impossible to match up the GDP’s of the US versus the PRC, NK, Cuba, ...
It also avoids a double dip even if under the old standards we’d be in one. Nothing like grade inflation no? I bet Obama knew all about that. How to push his professors buttons to get a higher grade.
He’s dangerously close to being known as the recession president. Must not happen.
Spending is now growth.
Just using fuzzy math.
“There’s always the happiness index. :)”
That number is down due to high unemployment
Spending is growth.
Printing money is wealth.
A government check is employment.
What,.. is up, down?... is right, wrong? What is going on? George Orwell we have arrived, GOD save us all.
PS. Thank you media for being society's watch dog.
Government spending is already part of the GDP number. They have realized that the government can't spend enough to keep the illusion of growth going, so they are adding another ingredient to the magic potion.
And since a large portion of go t spending is on R&D...
I doubt they’d exclude their own R&D. Easier to game the numbers through budgeting.
They’ve been fudging the unemployment numbers and the inflation statistics throughout his administration. Might as well add GDP. The money supply and inventory of real gold (vs tungsten plated gold) at Fort Knox are also suspect.
Has anyone looked at what is actually spent each year versus the dollars actually appropriated by Congress? I wouldn’t be surprised if he is spending more than appropriated without a whimper from the GOP.
Great news, Brothers! The choco ration has been increased again!!!!
Winston Smith is alive and well.
This comes as no surprise. Late in GWB’s administration, they changed the way a the start of a recession is calculated so as to make the flagging economy worst than it was and build enthusiasm for the great and powerful O.
Worked, didn’t it?
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