If the Bureau of Economic Analysis of the Dept. of Commerce were led by smart people, they'd start producing a variety of different measures of "real GDP" the way that the Bureau of Labor Statistics of the Dept. of Labor produces more than one estimate of the unemployment rate.
On Wed, Jul 31, 2013 at 6:47 AM, Jim Devine <[email protected]> wrote: > the key question is whether or not the new measure of GDP is more > accurate than the old. I don't think so. > > note that they haven't (yet) played with the unemployment numbers to > make them look good. That's rather more important to "Main Street" > than GDP numbers. > > On Wed, Jul 31, 2013 at 6:34 AM, Louis Proyect <[email protected]> wrote: >> Inside The Numbers >> Economic Recovery by Statistical Manipulation >> by JACK RASMUS >> >> Facing the prospect of a 2nd quarter GDP report showing economic growth >> less than 1% (some professional forecasting services predict as low as >> 0.5%), and a year to year growth of the US economy likely to come in at >> barely 1%–compared to a 2011-12 already tepid 1.7%–today the Obama >> administration will announce a major revision of how it calculates GDP >> which will bump up GDP numbers by as much as 3% according to some >> estimates. That’s one way to make it appear the US economy is finally >> recovering again, when all other fiscal-monetary policies since 2009 >> have actually failed to produce a sustained recovery. >> >> full: >> http://www.counterpunch.org/2013/07/31/economic-recovery-by-statistical-manipulation/ >> _______________________________________________ >> pen-l mailing list >> [email protected] >> https://lists.csuchico.edu/mailman/listinfo/pen-l > > > > -- > Jim Devine / "Reality is that which, when you stop believing in it, > doesn't go away." -- Philip K. Dick -- Jim Devine / "Reality is that which, when you stop believing in it, doesn't go away." -- Philip K. Dick _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
