Sweet Jesu Goddam Almighty

Doesn’t the man understand anything?

Growth

Low. Maybe one or two percent at most, with a real risk it could be negative. It will almost certainly be behind every other major economy because of Covid mismanagement and Brexit. On this conventional criteria it will be a bad year.

Why has British GDP performance been so much worse than other places? Partly, at least, because the ONS has actually been measuring performance correctly, even if differently. The fall in education delivered, for example, has been taken as a fall in GDP. This is logical but unusual. Normally government provided services are valued at their cost of provision, not value of output. So, other places with closed schools (and this isn’t the only part that ONS has been doing it to) have not recorded a fall in GDP as a result. But the UK has.

OK. This being something that is well known. Among those paying attention at least.

So, what does this mean about the relative UK performance as we all open up again? Yes, that’s right, the UK will outperform. Because for us opening up schools – ‘n’ other stuff – will be counted, directly, as an increase in GDP and it won’t be in other places.

It’s built into the very method of counting that the UK will outperform on GDP growth. And someone who wanted to say that the Tory Bastards never get anything right would be getting his excuses in now. If, that is, he knew anything about GDP accounting.

15 thoughts on “Sweet Jesu Goddam Almighty”

  1. Spuds ‘forecasts’ are just fantasies for him get off on, like one of us writing in graphic detail about how we will be having a threesome in 2021 with Priti Patel and Kate Middleton

  2. “This being something that is well known. Among those paying attention at least.”

    You think?

    Not if you saw all the ‘clued-up’ journos response to Ed Conway’s Times article last week. *MAJOR REVELATION* – seemed to be the theme.

  3. Someone on T*x Resarch UK is claiming a future Scottish Central Bank will only need an IT budget of £15,000.

  4. Who cares what that mental defective thinks? Today’s big news is that Assange won’t be extradited the US. Hurray! From the Telegraph:

    ‘In her judgment, Judge Baraitser referred to evidence of Assange’s mental state.

    She said that “facing conditions of near total isolation” in US custody, she was satisfied that authorities there would not be able to prevent Assange from “finding a way to commit suicide”.

    Judge Baraitser made reference to Jeffrey Epstein in her summary, and said: “Others have succeeded in recent years in committing suicide at jails… Jeffrey Epstein committed suicide at the MCC jail in August 2019.” ‘

    I roared with laughter at that last bit.

  5. But we aren’t opening up Tim–the Blonde Blojobbing fuckwit wants even more shut down. The Brexit dividend is being pissed up the wall by LD wankery.

  6. For you in Portugal maybe. For the rest of us fighting in the street with Plod gets nearer every day. If the cunt tries to force masks in the open air I see no way of dodging it. Wont be wearing any badge of slavery.

  7. The South Park Pandemic Special is quite jolly. Featuring as it does (i) the idea that Covid 19 started after Stan’s dad shagged a bat (or was it a pangolin) (ii) semen infused marijuana providing a vaccine and (iii) President Trump armed with a flame thrower.

    That last one might still come true.

  8. It’s amazing how much stupid can fit in that fathead of his. I’m surprised he’s got room for all the sarcasm, spite and nastiness as well.

  9. @Rob
    Don’t laugh but one of Spud’s ‘friends’ Dr Craig Dalzell has stated that central banks run at a profit (which they pass to the Exchequer) and generate lots of high quality well paid jobs for those who work for them. He uses the BoE employing 4000 peeps at average salaries of an MP as an example. Hence a Scottish Central Bank printing Donians (or whatever Caledonian pounds get called) is a good thing.
    At least Dr Dalzell believes the SCB should be operationally independent.

  10. “Because for us opening up schools – ‘n’ other stuff – will be counted, directly, as an increase in GDP and it won’t be in other places.”

    Betcha it won’t. The measure will change . . .

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