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submitted 11 months ago by yogthos@lemmy.ml to c/us_news@lemmygrad.ml

The concept is called “imputations” — which are “what if” scenarios.

Example: When a person buys a home, the gov adds that person’s imaginary rent to the GDP!

That is, if he didn’t buy a home, he would have spent X dollars on rent. There are two more shenanigans like that you can read in the article.

By this measure, China has already caught up with the US a long time ago.

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[-] 201dberg@lemmygrad.ml 9 points 11 months ago

Oh yeah, just look how they change the way they calculate inflation and how they changed the definition of recession. lol

this post was submitted on 05 Dec 2023
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