42 sats \ 3 replies \ @Undisciplined 30 Jun \ on: China's Housing Market Keeps On Tumbling econ
They really needed that correction. Home prices in Chinese cities were absolutely insane.
This is such a good example of why you shouldn't count government spending in GDP. Real estate was not 20% of economic productivity in China, because it was not productive economic activity.
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42 sats \ 2 replies \ @TomK OP 30 Jun
if we here in Europe exclude government spending, then statistically we are shooting ourselves back into the late Middle Ages... that, in retrospect, if things continue like this, may even turn out to be a golden age compared to the present day
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42 sats \ 1 reply \ @Undisciplined 30 Jun
if we here in Europe exclude government spending, then statistically we are shooting ourselves back into the late Middle Ages
Yep, people might realize what they've done if the stats were accurate.
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42 sats \ 0 replies \ @TomK OP 30 Jun
i'm not sure when the definition of GDP was changed again. however, GDP used to be measured only on the basis of private sector activity, which is perfectly correct. A small side note on statistical manipulation: in Germany, the first institutes and state institutes are starting to show only the employment rate on the labor market. This means that people are already being indirectly prepared for a massive increase in unemployment
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