Well here comes a swathe of deregulation of the banks to stoke that particular fire.
The City runs the government not the other way around.
Hereās some happy reading
Weāre probably just copying the Americans with a lot of this.
And as for ālevelling upā, did anyone actually believe a word of that???
What about the increase in GDP for the amount I might have paid if my imaginary Lamborghini was real?
Crippling depreciation on imaginary Lamborghinis.
Why do we need to do that ?
We donāt seem to do it for all the other stuff we own (at least I assume we donāt).
I own a bicycle. If I cycle into Oxford my bike saves me having to pay the rail fare.
I own a hi-fi. That saves me the cost of hiring the London Symphony Orchestra, a large choir and four soloists every time I want to listen to Beethovenās 9th symphony.
How are those different from the house thing ?
Itās a way of detaching our economic reports from reality, more like.
Iāve always concluded that without devices like this then weād be more often than not be in recession, and the managed decline of our economic power would be more transparently obvious (and require explaining).
As long as we are responsible and stick to the fiscal rules everything will be OK ![]()
and buy lots of drugs, illegal drug sales are also included in GDP calculations
āAs its measured on market rentsā
So the UK has flirted with an official recession on several occasions over the past few years under the Torries, and in part a full blown recession was technically avoided by the massive leap in private rental costs over the same period.
Smacks of cooking the books tbh
The new GDP calculations will see the UK factor in the proceeds from prostitution and illegal drug sales. According to the Office for National Statistics (ONS), the move could add £65bn, almost 5 percent of the overall UK economy, to the GDP.
Acceptance by the back door
That as well? ![]()
Glad someone got it
Voltarol suppositories?
Polish left back from 1962 World Cup side
Didnāt know that, another explanation why governments are so obsessed with propping up house values.
I suspect its a way off accounting for increasing asset values that underpin things such as debt, pensions and retirement planning etc. Itās simple and repeatable. ???
You might well be right. But naively I canāt see what on earth thatās got to do with product.
