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The UK and Italy ready to boost GDP with hookers and coke

Blow and hookers. Italy and the UK are now going to include cocaine sales and prostitution in their Gross Domestic Product calculations. Lowering the debt-to-GDP ratio has never been easier. Let the government borrowing for more cronyism, war and general suffering continue.

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Let’s blow this MF up!

Yes indeed, Italy and the UK are now going to include cocaine sales and prostitution in their Gross Domestic Product calculations going forward.

Starting with Italy via Bloomberg:

Italy will include prostitution and illegal drug sales in the gross domestic product calculation this year, a boost for its chronically stagnant economy and Prime Minister Matteo Renzi’s effort to meet deficit targets.

Drugs, prostitution and smuggling will be part of GDP as of 2014 and prior-year figures will be adjusted to reflect the change in methodology, the Istat national statistics office said today. The revision was made to comply with European Union rules, it said.

Ah yes, those pesky European Union rules. No worries, the young Renzi is finally figuring out that the whole system is one big kleptocracy ponzi scheme, so might as well just stop bull shitting around and add in all that underground mafia liquidity to the national books.

Renzi, 39, is committed to narrowing Italy’s deficit to 2.6 percent of GDP this year, a task that’s easier if output is boosted by portions of the underground economy that previously went uncounted. Four recessions in the last 13 years left Italy’s GDP at 1.56 trillion euros ($2.13 trillion) last year, 2 percent lower than in 2001 after adjusting for inflation.

“Even if the impact is hard to quantify, it’s obvious it will have a positive impact on GDP,” said Giuseppe Di Taranto, economist and professor of financial history at Rome’s Luiss University. “Therefore Renzi will have a greater margin this year to spend” without breaching the deficit limit, he said.

Leave it to Zerohedge to sum everything up nice and neat:

Alas for Keynesian economists everywhere, since this “adjustment” largely shows that what one includes in GDP is now absolutely meaningless and for lack of a better word, a joke, it also means that the core concept of economic growth measurement has now officially jumped the shark.

Bravo Italy, talk about raising the bar for other leaders and countries around the world.

And that’s what it is all about: literally making numbers up allowing the government to spend even more money it doesn’t have on ridiculous political schemes, kickbacks, crony deals and corruption, and then when the people start to riot, blaming it all on “austerity.”

Not to be outdone, following on Renzi’s blow and blowjob GDP boost, the UK is now joining the fray.

From Zerohedge:

And now, riding on the coattails of this economics gimmick designed solely to make the economy appear more solvent, it is Britain’s turn, whose Office for National Statistics will also add add up the “contribution” made by prostitutes and drug dealers.

And the contribution is an f’in big deal. We are talking lots of mula. English statisticians are measuring the value to the UK economy of sex work and drug dealing and they have discovered that these trades make roughly the same contribution as farming and slightly less than book and newspaper publishers added together.

Some models kicked around, estimate that in 2009 the underground economy of illegal drugs and prostitution boosted the UK economy by £9.7bn or equal to 0.7% of gross domestic product in 2009, according to the Office for National Statistics’ first official estimate.

Hold on for a second. All these estimates sound fine and dandy but how the bloody hell is the UK going to get an accurate read on how much coke and paid sex UK citizens are consuming.

More insight via Zerohedge:

Here’s the problem: since one can’t put down on their tax return form that they have paid sex or deal drugs for a living, the ONS will have to estimate the economic contribution by these illegal professions. This is how it has gone about doing it:

According to the estimates there were 60,879 prostitutes in the UK in 2009, who had an average of 25 clients per week – each paying on average £67.16 per visit.

That’s right: there is now an excel model to calculate what the hypothetical GDP boost to a nation is. Making things even more surreal, and confirming the GDP calculation is officially a statistical joke, here is how drugs are accounted for:

So this is the brave new world we live in. Drones, drugs and pimping. Of course all of this is done under the moral, and exceptionalist, watchful eye of our western leaders.

For even and deeper explanation as to what is happening and why, we recommend watching the latest Keiser Report with the brilliant, no holds bar, Max Keiser.

The money line in the episode comes at the 1:20 minute mark of the video, with the use of numbers and indexes like GDP, CPI, and unemployment to report the economy, Keiser goes to explain…

“these numbers are fungible, these numbers and indexes, whether its the Dow Jones Index or the FTSE 100 Index, or some other oil based index, they are completely fungible on a month to month basis, based on the need of the banking kleptocracy in league with governments to project an economic tableau that accomplished two goals…

number 1, keep interest rates near zero and…
number 2, look as if their is little inflation.

But the fact is that interest rates at zero in turn facilitate cocaine and heroin use in terms of its impact on the economy, and of course that spreads to the global geo-political situation where countries like America end up invading Afghanistan, taking control of the poppy crop (which has never been higher), which of course supports the heroin use around the world, and then they are going to include that in GDP.

So they get a GDP boost from the militarisation of Afghanistan, from the heroin use of people strung out on smack and from the degrading effects of prostitution and gambling.

And this all contributes to GDP according to this new world paradigm.”

Leave it to Max to lay down one final zinger in this whole hoax…

So the Central Bankers condone prostitution, does that apply to their families, their daughters, their wives?

Ouch…well said Mr. Keiser.

References:
http://www.bloomberg.com/news/2014-05-22/cocaine-sales-to-boost-italian-gdp-in-boon-for-budget.html

http://www.zerohedge.com/news/2014-05-22/hookers-and-blow-how-changing-definition-gdp-officially-jumped-shark

http://www.zerohedge.com/news/2014-05-29/how-britain-calculates-its-hooker-gdp-boost-60879-prostitutes-x-25-clients-week-x-%C2%A36

https://www.youtube.com/user/RussiaToday/featured

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Arizona Senator Jeff Flake Opposes Vote on Kavanaugh Until Leftist Accuser Has Her Say

The end of the Republic inches closer as Identity Politics knows no bounds: Republicans join the fight to delay Brett Kavanaugh confirmation vote.

Alex Christoforou

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Via The Gateway Pundit


FLAKE OUT — ARIZONA SENATOR OPPOSES VOTE ON KAVANAUGH

Anti-Trump Senator Jeff Flake, a member of the Senate Judiciary Committee, said in an interview Sunday evening that until he learns more about the sexual assault allegation regarding Brett Kavanaugh, he is “not comfortable voting yes” on Kavanaugh.

It’s Flakes last chance to poke President Trump and the country in the eye before he rides retires and likely finds a job in the liberal media.

Via Mike Cernovich:

Kavanaugh’s accuser is a far left anti-Trump activist.

Via Zerohedge


Over the past few days, what appeared at first to be a merely token resistance to the nomination of Trump SCOTUS pick Brett Kavanaugh has morphed into something entirely more menacing. And for the first time since Kavanaugh’s name was first floated in June, his nomination may be in jeopardy.

After allegations of decades-old sexual improprieties first surfaced last week, it looked as if Kavanaugh would easily surmount this obstacle. But we have to give the Democrats credit: They have lined up their dominoes perfectly. And on Sunday, they set their plan in motion when the Washington Post published an in-depth interview with Kavanaugh’s accuser, Christine Blasey Ford. The story detailed a blow-by-blow accounting of Ford’s allegations, as well as her explanation for why she neglected to share her experience until decades later. Tellingly, the story also noted that Democrats have been sitting on the story since July, and that Ford only decided to out herself after some unscrupulous members of the Judiciary Committee shared her identity with the press – or at least that’s what California Sen. Dianne Feinstein’s office alleges.

While the allegations are relatively tame by #MeToo era standards (the incident allegedly unfolded when Kavanaugh was 17), it has apparently been enough for Democrats and a handful of turncoat moderate Republicans to successfully shut down a planned Thursday vote of the Judiciary Committee. Arizona Sen. Jeff Flake effectively shut down the vote last night when he revealed that he wanted to hear more from Ford before voting. Without Flake, the Republicans’ 11-10 majority on the Judiciary Committee shifts to a 10-11 vote in favor of the Democrats. While Committee Chairman Charles Grassley has said he’d like the vote to proceed as scheduled, media reports say he is quietly working to organize a private call involving Ford and curious Senators in an effort to help mitigate their concerns.

But looking further ahead, Republican leaders might have more difficulty as Tennessee Republican Bob Corker – who is not a member of the Judiciary Committee but could still hold up the final confirmation vote – said Sunday that he’d also like to see Thursday’s committee vote delayed.

Here’s more from Bloomberg:

“I’ve made it clear that I’m not comfortable moving ahead with the vote on Thursday if we have not heard her side of the story or explored this further,” said Flake, who has the power to stall consideration if all Democrats on the panel join him since Republicans only hold an 11-10 majority on the committee. Flake’s office didn’t respond to requests for comment.

Corker of Tennessee, who isn’t a member of the panel but whose vote is critical to confirmation, also doesn’t want the committee to vote on Kavanaugh’s confirmation until Ford’s allegations can be heard, said his spokeswoman, Micah Johnson. The senator wants the allegations to be heard promptly, she said.

The backlash intensified late Sunday when Alaska Sen. Lisa Murkowski told CNN that Thursday’s hearing should be delayed.

“Well, I think that might be something they might have to consider, at least having that discussion,” Murkowski.

[…]

“This is not something that came up during the hearings. The hearings are now over. And if there is real substance to this it demands a response.”

However, at least one of the Senate’s reputed moderates has stood up to the Democrats in an interview with the New York Times, castigating them for withholding this information until so late in the process (remember: Feinstein justified this decision by saying she had referred Ford’s allegations to the FBI, who reportedly added them to his background check file).

“What is puzzling to me is the Democrats, by not bringing this out earlier, after having had this information for more than six weeks, have managed to cast a cloud of doubt on both the professor and the judge,” Collins told The New York Times.

Collins asked if Democrats believed Ford, “why didn’t they surface this information earlier,” and if they didn’t believe Ford, “why did they decide at the 11th hour to release it?”

“It is really not fair to either of them the way it is was handled,” Collins said.

Collins comments come after Ford spoke publicly about the alleged incident for the first time during an interview with The Washington Post that was published on Sunday.

On Monday, in the latest sign that Ford could appear at an embarrassing public hearing, Ford’s attorney, Debra Katz, told “Today” that her client would be willing to testify publicly before the Senate Judiciary Committee. “She’s a credible person. These are serious allegations. And they should be addressed.”

The White House, for its part, is standing by Kavanaugh, and allowing the Senate to sort things out. According to Bloomberg, Kellyanne Conway said Ford should not be “insulted and ignored” in what appears to be an attempt to beat the Democrats at their own virtue-signaling game.

Still, according to a White House spokesperson, Trump isn’t giving an inch. Washington Post reporter Seung Min Kim, citing WH spokesperson Kerri Kupec, reported that Judge Kavanaugh “categorically and unequivocally” denied this allegation: “This has not changed. Judge Kavanaugh and the White House both stand by that statement,”she said.

In fact, as Axios reports, Senate Republicans could “play hardball” by calling on Ford to testify before Thursday’s scheduled vote. Though Republicans wouldn’t surprised if Ford holds a press conference or gives a TV interview, which Axios says “would raise the stakes considerably.” Chuck Schumer, meanwhile, has repeatedly called for an FBI investigation and a postponement of the vote

To be sure, the Democrats’ goals here are obvious. After Sen. Corey Booker’s “selfless” decision to release unauthorized documents about Kavanaugh’s time in the Bush Administration failed to even delay the process, Democrats have now played their Trump card – no pun intended. Their goal: Delay Kavanaugh’s confirmation at least until the Oct. 1 mark – the beginning of SCOTUS’s next term – to put a halt to any controversial decisions that could reverse important precedents. Of course, their ultimate goal is to stonewall the White House until after Nov. 6, when a few victories in the midterms might allow them to sink Kavanaugh’s nomination once and for all.

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University announces “White Awake” safe space for white students

The University of Maryland at College Park has set up a new diversity support group to create a “safe space” for white students to discuss their feelings.

Campus Reform

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Via Campus Reform:


Update: After publication of this article, University of Maryland-College Park changed the name of the group to “Anti-Racism and Ally Building Group,” along with a shorter description, which reads,  “Do you want to improve your ability to relate to and connect with people different from yourself? Do you want to become a better ally? Members will support and share feedback with each other as they learn more about themselves and how they can fit into a diverse world.”

In a statement provided to Campus Reform on Friday, the university explained the name change: “Our Counseling Center acknowledges that we did not choose the right words in raising awareness about this research-based initiative, and how this group has been perceived is counter to the values of inclusiveness and diversity that we embody. Therefore, we are renaming the group to better reflect our intention and values.”


The University of Maryland at College Park announced Friday a new diversity support group to create a “safe space” for white students to discuss their feelings about “interactions with racial and ethnic minorities.”

The support group, called “White Awake,” will help white students who may “sometimes feel uncomfortable and confused before, during, or after interactions with racial and ethnic minorities.”

“This group offers a safe space for White students to explore their experiences, questions, reactions, and feelings,” the description explains. “Members will support and share feedback with each other as they learn more about themselves and how they can fit into a diverse world.” The description asks students if they want to “improve [their] ability to relate to and connect with people different from [themselves]” or if they want to become a better “ally.” The new group is now one of four in the university’s “Diversity Issues” program series.The group is being led by Noah Collins, who works for the UMD Counseling Center, and will be held once a week. Collins specializes in group therapy and is interested “especially in the areas of racial and cultural awareness,” according to his faculty bio.The safe space has been met with harsh criticism from students on social media.

“I am ashamed over the execution of white awake nor do I fully understand its clause. ‘How they can fit into a diverse world’? Why do they need to attend therapy sessions on how to be a decent human being in society?” a UMD student wrote on Twitter. “Why do they need to have these sessions to learn how to coexist?”

“Just like classes. You can’t take one class and feel like you have all understanding over a certain subject,” the student added. “It takes practice, it takes problems, it takes more than one course, so ‘White Awake’ has good intention but I am skeptical over the fairytale result.”

Campus Reform reached out to Collins and UMD for comment but did not receive a response by time of publication. If and when a comment is received, the article will be updated.


Follow the author of this article on Twitter: @Grace_Gotcha

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Harvard Prof: Merit-based admissions ‘reproduce inequality’

Professor Natasha Warikoo is displeased that students she interviewed are motivated by “self-interest” instead of social justice.

Campus Reform

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Authored by Toni Airaksinen of Campus Reform:


A Harvard University professor claims in a new academic study that merit-based admission processes at elite universities “reproduce inequality.”

Harvard education professor Natasha Warikoo draws on interviews with 98 white, native-born students at Harvard, Brown University, and the University of Oxford in “What Meritocracy Means to its Winners: Admissions, Race, and Inequality,” published in the journal Social Sciences.

During interviews Warikoo conducted between 2009 and 2011, these students were asked to sound-off on whether they felt their school had meritocratic admissions and if they supported affirmative action. Many answered the second question affirmatively and hailed the benefits of a diverse student body.

But Warikoo seems concerned with students’ responses. Analyzing data from these interviews years later, Warikoo points out that students’ approaches to diversity suggest that they’ve “internalized” the tokenistic rhetoric of the school admissions office, even if they had disagreed with policies like athletic recruitment or legacy admissions before coming to campus.

“Unlike in other campus domains in which there is a history of social protest among college students, in the realm of admissions, students seem to agree quite strongly with their universities, and come to even more agreement rather than critique upon arriving to campus,” she writes. “They suggest that most actors in elite institutions espouse views that reproduce their elite status, rather than engaging in symbolic politics or protest.”

According to Warikoo, “US students espouse a collective understanding of merit,” but only “value collective merit for its impact on themselves, not for social justice, or for the collective good of society.”

“They are not espousing, for example, a vision of multiculturalism that emphasizes group identities and the need to support ethnic and racial groups in society, as many scholars define multicultural state policies,” she elaborates.

Notably, Warikoo addressed the same issue in her 2016 book The Diversity Bargain, which criticizes white students for understanding “the value of diversity abstractly, but [ignoring] the real problems that racial inequality causes.”

White students “stand in fear of being labeled a racist, but they are quick to call foul should a diversity program appear at all to hamper their own chances for advancement,” Warikoo claims in that book, asserting for instance that white students “reluctantly agree with affirmative action as long as it benefits them.”

Her new study, too, criticizes white students for believing in meritocracy and supporting affirmative action, suggesting that white students only support affirmative action for selfish reasons.

One white student, Naomi, was criticized for saying “diversity is really how you learn here,” as Warikoo suggested that Naomi only valued diversity because it added to the “collective merit” of her cohort of students.

Warikoo also reports that “some students used the collective merit framework to express support for legacy admissions…even while lamenting the inequality legacy admissions engenders.”

She bemoans that, ultimately, the students she interviewed were more motivated by “self-interest” than a commitment to social justice.

“They value collective merit for its impact on themselves, not for social justice, or for the collective good of society,” she writes. “They are not espousing, for example, a vision of multiculturalism that emphasizes group identities and the need to support ethnic and racial groups.”

According to Warikoo’s interviews, students who attended elite high schools “no longer see a large number of their peers gaining admission to the likes of Harvard, Brown, and Oxford,” which they interpret “as evidence that the system is fair, even while ignoring the fact that students like them and their peers are vastly overrepresented at elite universities.”

The professor suggests that when the legitimacy of how they obtained seats at elite institutions gets called into question, students only become more convinced that they deserve to occupy those seats.

“This paper shows how admissions systems often reproduce inequality not only by how they select students, but also by defining ‘merit’ for admitted students in ways that will reproduce inequality in the future,” she concludes.

Warikoo claims that schools have “unequal” admission processes because black, working class, and first-generation students are underrepresented in student bodies. To fix this, Warikoo recommends that elite universities employ an “admissions lottery,” which the schools would use to randomly admit students who meet certain minimum standards.

“An admissions lottery would shift the meaning of selection from an absolute sense of merit—the best of the best—to an understanding that admission is somewhat arbitrary,” she predicts.

Warikoo’s study was published in the journal Social Sciences, which boasts of a “rapid peer-review” system. While most articles take months if not a year to be accepted, Warikoo’s article was accepted by reviewers in 48 days.

Though Warikoo initially agreed to answer a few questions by email, she ultimately did not respond to Campus Reform. Harvard University also did not respond.

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