THREAD: Why you should chuck many metrics out of the window. (1/)
@nglinsman @BaldingsWorld @bondstrategist @davidbelle_
@nglinsman @BaldingsWorld @bondstrategist @davidbelle_
https://twitter.com/amlivemon/status/1329785267893506054
#Italy has put in place a firing ban. Companies can fold, but as long as they are operationg, they are forbidden from firing personnel. That obviously has a range of unintended consequences. (2/)
Personnel on short term contracts etc have been let go, introducing not only an "have/have nots" situation, but.... distorting all sorts of economic statistics, GDP being one.(3/)
Think if that measure this way: you are a company. The government taxes you for 25% of last year's payroll. Then, it hires the people you let go and send them to your premises, where as a kind if indentured servants you can use them as you see fit..and you do not.(4/)
depending on how you call the money these people receive, the statistical treatment changes. But from where I sit... Italy neatly hid a substantial amount of Government spending at least.
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