Discover and read the best of Twitter Threads about #gdp

Most recents (12)

There is severe confusion about the meaning of #economicgrowth. Many seem to mistakenly think that it has to do with #GDP or producing stuff. It does not. Economic growth means that an economy's ability to satisfy people's wants, whatever they are--that is, to produce wellbeing--
increases. GDP is a rather terrible way of capturing this using [public] statistics, and is thus corrupted by those benefitting from corrupting such figures. GDP is not growth. Likewise, having more stuff in stores isn't growth. Producing increasing quantities of stuff that
nobody is willing to buy is the very opposite of economic growth: it is wasting our limited productive capacity. But note the word 'willing'. Wellbeing is not about [objective] needs, but about being able to escape felt uneasiness. It can turn out to be right or wrong, but that's
Read 24 tweets
#GDPbkser 1/n Whenever the GDP base is updated for a fast growing economy, the weights on fast growing sub-sectors increase & on slow growing sub-sectors decrease. The new series therefore shows lower growth rt than old in yrs prior to new base & raises it for yrs post new base.2
#GDPbkser (2/n): If memory serves, historically avg GDP gr rt in yrs btwn old & new base yr has been adjusted down by an avg of -0.5% to -0.75%! The current revision is ~2x the historical avg! Thus reweighting would have lowered past GDP gr rt from 8% to 7% to 7.5%! ...3/
#GDPbkser (3/n) So what needs greater analysis is the rest of decrease in GDP growth rate ie the reduction not explained by re-weighting (~-0.65% ). Some points made by critics are either only partially valid or invalid. (a)Comparing chng in nominal gr with chng in real gr...4/
Read 9 tweets
Ok, some thoughts on the #GDP back series calculated by the #CSO. First, the MCA 21 database on which much of the new methodology is based simply did not exist before 2006-07....More importantly, it was not comparable before 2010-11.
Given the importance of MCA 21 for the GDP calculations, I suspect former chief statistician TCA Anant just did not want to bring out a back series when the MCA21 was not available... and the only alternate was CMIE Prowess data...
The problem that anyone will have in the current back series will not be about methodology. It will be about the assumptions and alternate data sources used for calculations because comparable data did not exist
Read 8 tweets

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1) Columbus Day 2018 is half time at the 2018 Mid-Term Bowl. The score is GOP 17 and Democrats 16. Let’s recap the first half.

#BlueWave #RedWave #2018MidTermElections

medium.com/@DBCopa/half-t…
2) Going into the game the Democrats were riding their #BlueWave of enthusiasm. They were so confident America was tired of all the lies and sordid behavior of Coach Trump that the Democrats could win the game easily.
3) They laughed at their good fortune every time a GOP player would pledge to work closely with their coach; such easy pickings.

#BlueWaveComing2018
Read 23 tweets
Why GDP and GNP should NOT be used as reference points for measuring the size of #Ireland economy? Two charts: 1) The two measures are not even on-trend with the real demand, 2) The gap between MNCs-shenanigans in Irish Nat. Accounts & the real domestic demand is MASSIVE 82% +
+ So for all my learned friends, esp in the likes of @CatoInstitute @FraserInstitute @danieljmitchell et al: what your Indices of Economic Freedom rankings for #Ireland reflect is the vast transfer of economic power from the residents of Ireland to Multinational Corporates. +
+ As long as you continue to reference Irish GDP as a base for your Indices, you will miss the true extent of over-regulation, over-taxation, cronyism, corruption imposed onto ordinary Irish people, businesses, & entrepreneurs, by the monopolization of Irish policies & politics+
Read 19 tweets
“SINCE...........2008”

A THOROUGH COMPENDIUM OF #FINANCIAL #ECONOMIC #DEBT #STOCKMARKET #INTERESTRATE #HOUSING #RISK DATA, TOLD IN TWEETS BY MYSELF & MANY OTHERS.

This is dedicated to everyone that will say “nobody saw it coming”

Read the ENTIRE THREAD, down the rabbit hole
#GOLD #SILVER RATIO HIGHEST SINCE 10/2008
#EMERGINGMARKETS DEFAULT RISK HIGHEST SINCE 2008
Read 25 tweets
Don't believe that Blukip Mayhem & Co realise just HOW far adrift they have become from public opinion NOW! Of course, they could put ANY deal? Big IF? to a #peoplesvote, and test the will of the people to which they love SO much to defer? Democracy? Do they really believe in it?
Hard to escape the view that 'so called' UK Democracy has been completely hijacked by Blukip Mayhem & Co. There's NO mandate to trash our economy in the way now daily unfolding. It's totally risible to suggest that we'll go global from the self-inflicted wreckage of what we had.
Triple hit from #Brexodus; deferred, reduced or cancelled #BusinessInvestment and collapsing consumer #Confidence look likely to impact UK #GDP when #Q2 stats are known. Will Blukip Mayhem & Co take any notice? Or just keep racking up yet more debt, as UK #TaxTake recedes!
Read 11 tweets
"Apa Yang Kita Perlu Faham Mengenai Hutang Negara?"

Ditulis oleh: Ayman Rashdan Wong
(Ini adalah untaian)
#Malaysia #MalaysiaDebt #Debt #Hutang #FinanceMinister #MalaysiaBaharu #Ekonomi #GDP #Economy #EkonomiTerkini
Silakan retweet dan like
Tengok timeline penuh dengan ulasan tentang hutang negara, dari ulasan pakar hingga ulasan macam pakar hingga ulasan kalah pakar. Tangan den pun terasa gatal nak tulis, tapi memandangkan ini bulan Ramadan, jadi usahlah menimbulkan perbalahan.
Cuma, sebelum berbincang dan berdebat berkenaan hutang negara, ada beberapa konsep asas yang perlu difahami.
Read 20 tweets
This is the type of absolute denial of facts and reality occupying the #MAGA crown. There is no where in America, not one state, where the average gas price is not higher, generally by between 40-50 cents, according to the AAA, not known for faking basic data for partisanship.
The link to where you can see this for yourself is provided. I just looked at all fifty states. No state has longer cost gas today than a year ago. And for this particular statement to be true, the cost would actually need to be approx $1.30-$1.50 cheaper than current averages.
For many places, that would mean it being down by almost 50% or more from the average price. Wherever this half of gas sale is, I’d love to know. So there are two options here: this person lives in the one place in America where gas prices are at $1.75 or so, or they are wrong.
Read 19 tweets
The current dialogue about #DACA affects everyone in the US. How?

#Racism & #scapegoating & affect all minorities.

Deporting #DREAMers & undocumented #immigrants will have very negative impacts to the #economy. That affects everyone else. THREAD 1 #DreamActNow #immigration
The sociological concept of the “other” is important to this discussion. If you haven’t heard of it before, here is a brief overview from othersociologist.com/otherness-reso…. 2 #identity #race #sociology #Science
People in power define social identities as they have the means to control the narrative – news coverage, platforms to broadcast their platforms, & the power to influence law enforcement and legislation. Social identity affects how people perceive themselves and others. 3
Read 19 tweets
THE #BOND #BUBBLE THAT ALREADY BURST

1. Once and for all, dispense with the notion that rising #InterestRates are a result of a growing #economy. Housing & industrial production is rolling over & retail sales are declining.

Rates are rising bc of INSOLVENCY & #CREDIT RISK.
2. In 2007, prior to the crisis, the following was true:

🔷 the average yield was 4.6%
🔷 the #deficit was 1% of #GDP
🔷 publicly traded #debt was ~ 5 trillion #dollars

Due to #ZIRP, if the 10 year goes to a meager 4.4%, bond investors will lose OVER 25% of their investment
3. In 2018-19, prior to the coming crisis, the following is true:

🔶 publicly traded debt is ~ 15 trillion dollars
🔶 the deficit will be 8.5% of GDP
🔶 so interest rates are going to the 🌝 🌟 💫

Unless of course the #CentralBanks reverse and buy everything up...
Read 9 tweets

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