Gypsy: Correction - Their 4th quarter GDP is down 20% from last year - which is very different from their economy being down 20% (I wish that were the case).
When all the math is done, real GDP loss = 5%
(BTW, on the positive side, GDP is an inaccurate measure of economic growth even though it is used widely. Also, economies have momentum - hence even though it is a 5% loss, the cumulative effects and trajectory point to WAY MORE SIGNIFICANT LOSSES FOR ISRAEL - Yay!!!)
Explanation (on the off-beat chance that you are interested) :) :-
(1) Let's say Israel GDP is $100 every quarter (4 months) in 2022
(2) Now, 20% down in 4th quarter of 2023 (compared to 4th quarter in 2022) = $80 (instead of $100). Hence, the true impact so far is a loss of $20 for the 4th quarter of 2023.
(3) So, assuming they had 0% GDP growth in 2023, Israel 2023 GDP is $380 (100 + 100 + 100 + 80)
(4) So, compared to 2022, GDP in 2023 = 95% of 2022 GDP. Hence GDP is down 5%
Thanks Chang. Economics are not my strong point, lol..I hate anything to do with mathematics and numbers! When I was a sign painter, I even disliked painting them!
No worries - the MSM loves to fool people by lying using statistics (regardless of what topic the MSM is discussing). One of the things that independent media does is to examine all the "bullshit statistics" that MSM uses and expose them.
Here are some awesome books on the subject (they are all non-technical books):
Their economy is down TWENTY PERCENT, Jenny! 😂
Gypsy: Correction - Their 4th quarter GDP is down 20% from last year - which is very different from their economy being down 20% (I wish that were the case).
When all the math is done, real GDP loss = 5%
(BTW, on the positive side, GDP is an inaccurate measure of economic growth even though it is used widely. Also, economies have momentum - hence even though it is a 5% loss, the cumulative effects and trajectory point to WAY MORE SIGNIFICANT LOSSES FOR ISRAEL - Yay!!!)
Explanation (on the off-beat chance that you are interested) :) :-
(1) Let's say Israel GDP is $100 every quarter (4 months) in 2022
(2) Now, 20% down in 4th quarter of 2023 (compared to 4th quarter in 2022) = $80 (instead of $100). Hence, the true impact so far is a loss of $20 for the 4th quarter of 2023.
(3) So, assuming they had 0% GDP growth in 2023, Israel 2023 GDP is $380 (100 + 100 + 100 + 80)
(4) So, compared to 2022, GDP in 2023 = 95% of 2022 GDP. Hence GDP is down 5%
Thanks Chang. Economics are not my strong point, lol..I hate anything to do with mathematics and numbers! When I was a sign painter, I even disliked painting them!
No worries - the MSM loves to fool people by lying using statistics (regardless of what topic the MSM is discussing). One of the things that independent media does is to examine all the "bullshit statistics" that MSM uses and expose them.
Here are some awesome books on the subject (they are all non-technical books):
(1) "How to Lie with Statistics" by Darrell Huff (https://www.goodreads.com/book/show/58702146-how-to-lie-with-statistics-by-darrell-huff-w-w-norton-company)
(2) "Damned Lies and Statistics: Untangling Numbers from the Media, Politicians, and Activists" by Joel Best (https://www.goodreads.com/book/show/15808032-damned-lies-and-statistics)
(3) "Lies, Damn Lies, And Statistics: The Manipulation Of Public Opinion In America" by Michael A. Wheeler (https://www.goodreads.com/book/show/51292.Lies_Damn_Lies_And_Statistics)
(4) "A Field Guide to Lies: Critical Thinking with Statistics and the Scientific Method" by Daniel J. Levitin (https://www.goodreads.com/book/show/49646772-a-field-guide-to-lies)