Monday, November 9, 2009
Attached to headline figures
From the third contributor, Stephen: "Focus on positive "growth" in headline figures means that growth of any kind and any quality will do. No need to understand exactly what that growth involves. Just keep the numbers climbing and throw money at it if we have to. When growth is not positive, we believe we are being deprived. So if the numbers stop climbing, then we just print money to make the fandango continue ... In the West, growth in the mid-part of this decade was increasingly removed from the basic underpinnings of life. It was more about house prices than house quantities and more about the "service economy" and consumption than making hard goods."