I see the court economists are at it again, carrying water as they do for the new PM. They need to understand that massive spending on money losing, capital consuming circuses like FIFA does not add to GDP; that should actually be counted as a subtraction.
While CIBC was already expecting a “healthy rebound” in the second quarter, Grantham said the period was also “flattered somewhat by a rebound in mining, oil and gas, as well as potentially a boost from FIFA World Cup spending and preparations.”
Ah yes. “Real” GDP.
That would be the one that factors in how much of the nation’s expenditures on goods and services is funded by colossal, unrepayable, public and private debt, right?
Whaddaya mean, “NO”!!!
As well, the Forever Government spends over 4 billion a month on debt servicing.
Do the water carriers (it aint water – closer to yogurt) subtract that from their addition of Big Gov spending?
The fact the Financial Post is now swallowing is indeed confirmation of near total enthrallment of the MSM.
“They need to understand…”
Oh, they do. It is really quite obvious, even to me and I am far from an economist.
They’re lying. For money. If the Great Lie collapses their whole house of cards comes tumbling down.
Imaging the spiritual pain of lying every day, all day long, knowing that it can’t last forever. Seeing the dark clouds of Retribution growing on the horizon, coming closer every day, but they KEEP LYING in the hope that the End will be delayed for just a little longer.
Yep. I bet it hurts.
“Imaging the spiritual pain of lying every day, all day long, knowing that it can’t last forever.”
Yup. That’s what sociopaths have to do: image or imagine the pain of lying.
the ‘court’ economists heh heh.
economist jesters.
ejceosntoemrisst.
indistinguishable. when THAT happens, we KNOW what the next big ‘thing’ will be.
that’s when we are again taught economics kinda has ‘laws’ of its own like the ‘laws’ of gravity. here’s one they got in common: ‘what goes up must come down’
All data is interpreted by how it affects government.
Drop in GDP = drop in the tax haul
Lower unemployment = means less people on EI
So when they say FIFA is a money maker it means the government gets a cut of the action.
The skills we have.
Selling apparel manufactured in China must be HUGELY profitable.
Subtract the GDP effect of a $75 billion dollar deficit and there isn’t much left of Carney’s economic miracle of <1% growth..
I guess Thank Trump for the small World Cup economic jolt we’re getting this summer?