Thursday, September 19, 2013

Eurozone joins President Obama in changing model for GDP reporting

Back in April of this year, the Obama administration instituted a change in how GDP is measured, increasing the number reported by more than 3%.  This occurred after the economy had retracted for the prior 2 quarters, and at a time when the national debt was climbing to over 105% of annual GDP.
So as not to be outdone, it appears that the Eurozone has caught on to this idea of manipulating their own GDP numbers in an attempt to make state economies look much better than the vast recession most of the Eurozone is experiencing.
 
 

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