- cross-posted to:
- usa
- cross-posted to:
- usa
The concept is called “imputations” — which are “what if” scenarios.
Example: When a person buys a home, the gov adds that person’s imaginary rent to the GDP!
That is, if he didn’t buy a home, he would have spent X dollars on rent. There are two more shenanigans like that you can read in the article.
By this measure, China has already caught up with the US a long time ago.
Way more than that.
Here’s a really good breakdown, it’s 66% fake according to this
https://www.unz.com/lromanoff/us-economic-statistics-unreliable-numbers/
oh my