It always fascinated me when I learnt the the UK GDP climbed during to years of the housing boom, simply because the value of the house were rising, not that there were more house built. It seemd odd that the country had "X" number of houses and the country's GDP was "Y" some time later with the same amount of bricks and mortar, windows and doors the country's GDP had risen to "W", all because the value put on those bricks and mortar went up. So by producing nothing and sitting doing nothing you just got richer and purchased on the strength of this illusionary wealth. And our learned university economists thought this was great and would last for ever. Ah, the wonders of capitalism.
ann arky's home.