Starting in July the U.S. Bureau of Economic Analysis will recalculate U.S. Economic GDP data to include film royalties and spending on research and development. These changes are coming at a convenient time as the U.S. bubble economy is showing signs of once again having reached a point of no further growth, despite all the artificial stimuli through government incentives, massive monetary debasing with trillions of newly created dollars injected into the markets, deficit spending, and artificially low interest rates.
We’re capitalizing research and development and also this category referred to as entertainment, literary and artistic originals, which would be things like motion picture originals, long-lasting television programs, books and sound recordings….We are carrying these major changes all the way back in time – which for us means to 1929 – so we are essentially rewriting economic history. – Brent Moulton of Bureau of Economic Analysis, CNBC
It is expected that the additions these variables to the GDP calculation method will increase U.S. GDP by 3%. Once again changes in accounting standards are used to prop up and distort the US Economy painting the illusion that the U.S. Economy is healthy and sustainable. Coming up next (again): Inflation numbers lower than expected….