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Thread: Government Cooking the books

  1. #1

    Government Cooking the books



    Just like they distort inflation statistic through the CPI now they will distort economic growth and size through new GDP measurements. Its ridiculous.



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  3. #2
    Quote Originally Posted by gwax23 View Post


    Just like they distort inflation statistic through the CPI now they will distort economic growth and size through new GDP measurements. Its ridiculous.
    Peter Schiff is hilariously funny. I thought the funniest part was when he said musicians will take their money and go buy drugs or a sports car or whatever musicians buy with their money. (I'm a musician..LOL)

    So what does GDP stand for these days?

    GROSSLY DISTORTED PROPAGANDA?

  4. #3
    If recording movies, television, other content is now an investment does every FB post and Tweet count as an investment? My god our GDP is going to go through the roof!

    In that case we need a new commodity market. I want to short tweets.

    Did some beancounter in washingtown look at the Hollywood exchange (hsx.com) and think it was a real thing?
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  5. #4
    NPR had a follow up on this. Nice to see it getting some more exposure. It didn't go into depth but it shows how silly the gov is

    http://www.npr.org/blogs/money/2013/...paign=20130425
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  6. #5
    Quote Originally Posted by gwax23 View Post
    Just like they distort inflation statistic through the CPI now they will distort economic growth and size through new GDP measurements. Its ridiculous.
    That's been the case for a long time. GDP is one of the lynch pins for the claim that WW2 was good for the economy.

  7. #6
    The GDP number is inherently cooked by what goes into it. Government spending is most definitely not production, and government borrowing actually constitutes negative production, yet those numbers are rolled into GDP as equals with genuine economic productivity.

  8. #7
    Quote Originally Posted by thoughtomator View Post
    The GDP number is inherently cooked by what goes into it. Government spending is most definitely not production, and government borrowing actually constitutes negative production, yet those numbers are rolled into GDP as equals with genuine economic productivity.
    Borrowing should in principle translate to less consumption (and thus lower GDP) in the future. At least if the borrowed capital isn't used to actaully grow production. So in principle, that's ok.



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