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Message
re: Meanwhile, 2014 1st Quarter GDP 0.1%
Posted on 4/30/14 at 10:02 am to UncleFestersLegs
Posted on 4/30/14 at 10:02 am to UncleFestersLegs
quote:
Luckily the Ministry of Truth changed the way they calculate GDP last summer so we get to experience this wonderful growth
Wait, I vaguely remember this now.
<---goes to google.
1
Posted on 4/30/14 at 10:08 am to GumboPot
quote:
<---goes to google.
By my standards, that was quick:
quote:
BEA will begin including the amount of money businesses invest in the production of such intellectual property as part of gross domestic product (GDP)
So business investment is included in the GDP number now...
That means double accounting.
For example, company A spends $1,000,000 on a piece of investment capital from company B on a proposed product that has NOT sold on the market yet.
The BEA now counts $1,000,000 spent by company A and $1,00,000 sold by company B = $2,000,000 GDP.
ETA: LINK
This post was edited on 4/30/14 at 10:11 am
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