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China To Boost "Economic Growth" By Changing Definition Of GDP,,, LOL Sounds like us, Something sucks, change the metrics by which it USED to be measured by. Problem solved........... 

By: micro1 in POPE IV | Recommend this post (3)
Thu, 07 Jul 16 7:51 AM | 42 view(s)
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Nothing is fixed though.............

In the summer of 2013, at a time when the topic of soaring US debt was still paramount to the US public (total debt is now a far more ludicrous, and gargantuan, $19.3 trillion but nobody cares since all the central banks are monetizing global debt at an unprecedented pace and investors are happy to frontrun them, thus keeping yields low) the US surprised everyone by "increasing" GDP, and thus reducing the debt/GDP ratio which was at about 100%, in a very simple way: it changed the definition of GDP, in the process boosting GDP by about $500 billion, or 3%, with the flip of an Excel spreadsheet switch.

This is what we reported at the time:

http://www.zerohedge.com/news/2016-07-06/china-boost-economic-growth-changing-definition-gdp?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29


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