Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

"hookers & Blow" Lift Britain Over France As World's 5Th Largest Economy

Recommended Posts

http://www.zerohedge.com/news/2014-12-27/hookers-blow-lift-britain-over-france-worlds-5th-largest-economy

Britain has inched out France as the world's fifth-largest economy thanks to what The Telegraph calls "a shake-up" of the national accounts this summer.

20141227_uk3.jpg

UK gross domestic product (GDP) is expected to total $2.828 trillion (£1.816 trillion) this year, compared with French GDP of $2.827 trillion, as The Centre for Economics and Business Research (CEBR) said Britain's acceleration was boosted by the inclusion of sex and drugs to UK growth (as part of new pan-European accounting standards). Official estimates show prostitution added about £5.7bn to the UK economy in 2013, while illegal drugs were worth about £6.62bn. One question - how did they estimate it?

Britain spends more on illegal drugs than it does on Beer or Spirits (liquor)

20141227_uk1.jpg

And more on "Hookers and Blow" than on Vegetables, Milk, or footwear...

20141227_uk2.jpg

Guesswork?

The ONS's methodology for calculating how much prostitution is worth to the economy is based on
extrapolating figures about the number of sex workers in London for the rest of the UK
. However, this survey data, which is from 2004, excludes male prostitutes.
According to one estimate by Andrew Fogg, 42pc of all sex workers in the UK are male, making their omission a significant gap in the ONS's calculations.
Other economists have also labelled the attempts to estimate the size of illegal economic activity as little more than "guesswork".

Hilarious I'm guessing these figures will get a hefty increase each year helping to ensure UK GDP keeps growing.

Going with imputed rent our economy will soon be worth tens of trillions and of course all this illegal cash will naturally be worked through our banking system so it comes out nice and clean....

Share this post


Link to post
Share on other sites

Who said crime doesn't pay? Counting prostitution and drugs in the GDP figure has seen the UK's economy overtake France as fifth largest in the world

2396E78900000578-0-image-a-60_1419695453

Britain's GDP is expected to total £1.86tn in 2014 compared to £1.82tn in France, calculations show. Prostitution added about £4.3bn to the economy each year while drugs provided a £6.7bn boost.

Share this post


Link to post
Share on other sites

Apparently the UK spends almost twice as much on illegal drugs than on beer.

Yet beer is available in virtually every shop in the High Street, every supermarket, every off licence, every hotel, every pub, most theatres and clubs, sports venues, most restaurants and lots of cafes etc. Most every house in the UK will have some especially at Christmas and New Year etc. Some trains as well.

Something doesn't add up

Edited by billybong

Share this post


Link to post
Share on other sites

Apparently the UK spends almost twice as much on illegal drugs than on beer.

Yet beer is available in virtually every shop in the High Street, every supermarket, every off licence, every hotel, every pub, most theatres and clubs, sports venues, most restaurants and lots of cafes etc. Most every house in the UK will have some especially at Christmas and New Year etc. Some trains as well.

Something doesn't add up

You have a point. More fiddling the figures then.

Share this post


Link to post
Share on other sites

Going with imputed rent our economy will soon be worth tens of trillions and of course all this illegal cash will naturally be worked through our banking system so it comes out nice and clean....

Prostitution is not illegal in the UK.

Share this post


Link to post
Share on other sites

I assume the chancellor has been putting his shoulder to the wheel judging by his appearance in parliament recently.

MiftnyD.gif

It is usually closing time before I look like that.

One wonders if it is not just the 5/2 diet that has helped Gidiot keep the weight off recently

Edited by stormymonday_2011

Share this post


Link to post
Share on other sites

Apparently the UK spends almost twice as much on illegal drugs than on beer.

Yet beer is available in virtually every shop in the High Street, every supermarket, every off licence, every hotel, every pub, most theatres and clubs, sports venues, most restaurants and lots of cafes etc. Most every house in the UK will have some especially at Christmas and New Year etc. Some trains as well.

Something doesn't add up

Beer might be available in many shops, pubs, hotels etc., but illegal drugs are available practically everywhere too, and they are sold round the clock.

I'd hazard a guess the UK spends considerably more on illegal drugs, than beer, much more than two times more.

Share this post


Link to post
Share on other sites

Beer might be available in many shops, pubs, hotels etc., but illegal drugs are available practically everywhere too, and they are sold round the clock.I'd hazard a guess the UK spends considerably more on illegal drugs, than beer, much more than two times more.

Life's essentials.

It doesn't surprise me at all as cannabis is incredibly widely used in the UK and must generate billions of pounds for organised crime. Shame they don't just legalise and tax, who knows then consumption of weed and beer may go down as people substitute their beer consumption with weed.

Just imagine too how much tax it would generate were it not on the black market.

As for availability, it is everywhere but I think it's a case if you know someone who uses it frequently then you have access to it. If you don't it's hard to get hold of.

Share this post


Link to post
Share on other sites

You have a point. More fiddling the figures then.

And its cheaper to get off your head on drugs than drinking booze in the pub.

Years ago, drugs - coke + smack - were very expensive.

Now, drugs are the poorman's choice for getting high.

Share this post


Link to post
Share on other sites

Apparently the UK spends almost twice as much on illegal drugs than on beer.

Yet beer is available in virtually every shop in the High Street, every supermarket, every off licence, every hotel, every pub, most theatres and clubs, sports venues, most restaurants and lots of cafes etc. Most every house in the UK will have some especially at Christmas and New Year etc. Some trains as well.

Something doesn't add up

Prossies are quite expensive if they're 'classy'. Don't know how much drugs cost.

Share this post


Link to post
Share on other sites

Prossies are quite expensive if they're 'classy'. Don't know how much drugs cost.

Come to Middlesbrough. You can get off your head on smack, spend 30 quality minutes with your choice of under-aged prossies. And still have some change for a parmo on the way home.

Share this post


Link to post
Share on other sites

It's all been done before.

Remember when the G5 became the G7? That was when Italy overtook the UK to become the world's #5 economy (after US/Japan/Germany/France at the time). To save face they upped the top table to 7, with Canada joining too.

Il Sorpasso (as the Italians called it) was engineered in exactly the same way, by including an estimate of their black economy in their official figures.

Share this post


Link to post
Share on other sites

So - going from the numbers published - that's £178 spent on pros in 2014 for every man in the UK [1]?

Ok, not every man paid for a prostitute in 2014, so...

If 10% of men indulged in 2014, that's an average spend of £1780.

If 1% of men indulged, that's an average spend of £18k.

My back-of-the-envelope calculations are telling me that something is not quite adding up; maybe it's all those Saudi and Russian oligarchs who are making up the difference?

[1] I will ignore the women who pay for prositutes, and assume that it's an extremely limited market.

Share this post


Link to post
Share on other sites

Just for perspective


http://

en.wikipedia.org/wiki/List_of_countries_by_beer_consumption_per_capita

So in the UK on average it's about 68.5 litres per capita a year (the table is per capita [65 million] and doesn't seem to take into account age or legal age limits etc).

So that would be about 105 bottles (650 ml) each year - per capita. Say 135 bottles a year for each adult (50 million).

So they're claiming that the 65 million people in the UK spend twice as much as that on illegal drugs. The actual numbers claimed to be "using" are far smaller - apparently about 2.7 million


https://

www.gov.uk/government/publications/drug-misuse-findings-from-the-2012-to-2013-csew/drug-misuse-findings-from-the-2012-to-2013-crime-survey-for-england-and-wales

So that would mean the 2.7 million are spending the equivalent of about 105 x 65 million x 2 = 13,650,000,000 (13.65 billion) bottles a year (actually a bit less as the multiple is a bit less than 2).

or 5055 bottles (drug equivalent) each a year - compared to the average adult person's 135.

Edited by billybong

Share this post


Link to post
Share on other sites

Are people objecting to the inclusion of prostitutes, drugs and imputed rent on principle. And if so which principle?

Or do they agree they should be included, but they just mistrust the way in which the figures are arrived at?

Just curious ...

Share this post


Link to post
Share on other sites

Probably they bumped up the figures so that they could claim that the UK wasn't an economic laggard compared to the likes of France and Germany. They like to brag about the UK economy and pretend it's at the forefront even when growth is achieved through massive debt.


http://

www.dw.de/german-gdp-swells-on-sex-drugs-and-weapons/a-17853092

and from the link below apparently inclusion is an eu directive (handy timing for the UK general election). Harmonisation?


http://

www.breitbart.com/london/2014/06/19/eu-forces-governments-to-include-prostitution-and-illegal-drugs-in-gdp/

Edited by billybong

Share this post


Link to post
Share on other sites

Are people objecting to the inclusion of prostitutes, drugs and imputed rent on principle. And if so which principle?

Or do they agree they should be included, but they just mistrust the way in which the figures are arrived at?

Just curious ...

I understand prostitution is legal in Germany, don't know about France or Italy. However do they include drugs and prostitution in their GDP calculations?

If they do why the dispute over UK including them in GDP?

Share this post


Link to post
Share on other sites

So - going from the numbers published - that's £178 spent on pros in 2014 for every man in the UK [1]?

Ok, not every man paid for a prostitute in 2014, so...

If 10% of men indulged in 2014, that's an average spend of £1780.

If 1% of men indulged, that's an average spend of £18k.

My back-of-the-envelope calculations are telling me that something is not quite adding up; maybe it's all those Saudi and Russian oligarchs who are making up the difference?

[1] I will ignore the women who pay for prositutes, and assume that it's an extremely limited market.

Which bit isn't adding up? 10% of men sounds realistic. £1780 would only be about 10 visits to a 'classy' escort.

Are people objecting to the inclusion of prostitutes, drugs and imputed rent on principle. And if so which principle?

Or do they agree they should be included, but they just mistrust the way in which the figures are arrived at?

Just curious ...

I'm assuming the latter but who knows?

Share this post


Link to post
Share on other sites

Life's essentials.

It doesn't surprise me at all as cannabis is incredibly widely used in the UK and must generate billions of pounds for organised crime. Shame they don't just legalise and tax, who knows then consumption of weed and beer may go down as people substitute their beer consumption with weed.

Just imagine too how much tax it would generate were it not on the black market.

As for availability, it is everywhere but I think it's a case if you know someone who uses it frequently then you have access to it. If you don't it's hard to get hold of.

I've always known people who use drugs and they and I have never had a problem getting hold of them, apart from the occasional short term 'drought'. And some of the harder drugs are even easier to come by than cannabis.

Share this post


Link to post
Share on other sites

And its cheaper to get off your head on drugs than drinking booze in the pub.

Years ago, drugs - coke + smack - were very expensive.

Now, drugs are the poorman's choice for getting high.

The drugs might be cheaper but, quality has come down a lot, although has been rising recently.

The £40/gram is not going to be anywhere near pure, and might be something different entirely.

£30-80 a gram depending on purity seem to be the prices today.

That said, people can have very cheap addictions to hard drugs. I know some who spend less a week maintaining a heroin habit, than others might spend for one night in the pub. But then you also get those who spend more in a few hours on crack, than an alcoholic might spend in a week on supermarket booze.

None of it is actually cheap, the supermarket booze is expensive. It just seems cheap relative to extortionate pub prices.

Share this post


Link to post
Share on other sites

Are people objecting to the inclusion of prostitutes, drugs and imputed rent on principle. And if so which principle?

Or do they agree they should be included, but they just mistrust the way in which the figures are arrived at?

Just curious ...

Why include the things that are illegal?.... Why not include money laundering and counterfeiting?......or the many other things people deal in?...rightly or wrongly.

Share this post


Link to post
Share on other sites

Why include the things that are illegal?.... Why not include money laundering and counterfeiting?......or the many other things people deal in?...rightly or wrongly.

Ah, but this way you can easily increase 'GDP' by just banning more stuff. That will force people to pay more for the things they buy, and, if that doesn't work, you can just make up the numbers to produce whatever 'GDP growth' you need.

The real question is why anyone cares about 'GDP' in the first place? 'GDP' is what tells you that smashing all the windows and replacing them will make you rich.

Edited by MarkG

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   217 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.