One factor that isn't often mentioned is the remarkable stability of tax revenue as a proportion of GDP (see graph).What is striking is that tax policy in both countries has changed very frequently.
It would also be odd given that growth has been trending lower over time (see graph in earlier post).Or perhaps investors are going on recent experience, which has seen profits be very strong in relation to GDP (see graph from St Louis Fed).
But total banking-system assets are another 800% of GDP (see graph above).
Wesbury also demolishes the myth that government spending stimulates the economy: "The unemployment rate moves higher whenever government spending rises as a share of GDP" (see graph below, which does not reflect the recent government spending surge to 26% of GDP).
In other words, rather than projecting economic output by sector, or taking into account corporate profits and losses, it charts two lines on two drastically different graphs: GDP assuming there's no global warming, versus GDP assuming we do nothing to fix global warming and temperatures skyrocket.
David Smith (@dsmitheconomics) Big disappointment in the figures is Q2 drop in business investment, down 2.7% on quarter and 8.5% on year earlier: http://t.co/A093E3xuxu September 26 , 20139.59am BST Graphs: UK GDP explained Here's some graphs putting today's GDP data into context, via Twitter: Ed Conway (@EdConwaySky) UK nominal GDP (eg inc inflation) is rising 3.5% a yr.
Campaigning in Newtown, Powys, Deputy Prime Minister and Liberal Democrat leader Nick Clegg said: "However many economists' graphs say that GDP is growing, however many statistics might be published about the economy, unless you feel in your heart that your family is safer, your job is safer and you have more money in your pocket, it doesn't mean much to you.
This graph shows how GDP has slid: Photograph: /IMF The IMF also admitted that the process of rebalancing Cyprus's economy was driving unemployment higher.
Furthermore, they do not seem to be stationary given the different changes over time.8 In order to observe the relation between the ESI series and the economic activity, we graph the annual GDP growth9 and the ESI series10 in Fig. 2.
This graph shows U.S. GDP from 1929 to 2013 in real 2009 dollars (corrected for inflation) along with the years major environmental laws were passed.
