UK out of recession

UK out of recession

Oh so thats alright then 0.1% = out of recession.... well let me tell you of an old adage

There are lies damned lies and statistics, GDP is massaged, inflation as you may well know is also massaged.

In that GDP is funny, ok I mow your lawn, you mow my lawn, no money is exchanged however this is considered to be economic activity and it is counted in GDP numbers. But how? it just is.

Or GDP also counts how much rent you have to pay even if you are not renting, if you own your home outright GDP estimates how much rent you would have to have paid if you did not own crazy eh?.

Hence GDP may have grown 0.1% but its fake as it is likely to be still below zero, the recession continues unabated, as jobs are still being lost out in the real world....

But wait it gets even worse, the UK government has been printing money zimbabwean style, t hey issue bonds which the Bank of England buys £200bn worth. Zimbabwean style so with 200bn printed money (which is actually taken out of your pocket as it debases your currency) they only managed to acheive 0.1% growth?!.

chris-martenson

Has a good take on this it is well worth an hour of your time to watch ALL of his videos to see the mess that we are all in.