Liberty Global grew a tiny fraction this year up 0.2% in real terms as reported to $18.28 billion, but as usual made out that its performance was off the charts. The truth is that many of the markets it operates in are saturated and every one of its major Western European countries showed revenue going backwards – the UK, Germany, Belgium and Switzerland/Austria, and its explanation was merely currency fluctuation. The Netherlands is only going forwards because it is comparing last year’s number without Ziggo’s contribution. The company always uses what it calls Rebased Revenue Growth, taken to be a restatement based on differences in GAAP principles in different parts of the world, acquisition accounting adjustments and differences between in-house…