Galt's Gulch

doctor the data and BHO looks good

Posted by johnpe1 9 years, 10 months ago to Economics
36 comments | Share | Flag

the only prices which are dropping are
petroleum-based (credit fracking) and the
huge group of able workers not participating
in the economy represents the subsidence
of the "American Dream" -- Watch Out For
Propaganda in January!
SOURCE URL: http://www.wnd.com/2014/12/expert-obama-economy-based-on-doctored-data/

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  • Posted by jsw225 9 years, 10 months ago
    The government calculates the inflation everyone experiences. Except they don't include Food. Or gas. Or medical costs. Or insurance costs. Or housing. Or travel.

    Basically they don't count 95% of what Americans spend their money on.
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    • Posted by xthinker88 9 years, 10 months ago
      And even then it's not inflation but pricing. Inflation has to do with how much money is in the system, not with pricing. I think we are currently in a situation where the Fed has radically increased the money supply and consumer pricing has not kept up.
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      • Posted by jsw225 9 years, 10 months ago
        Inflation affects the value of money. Since Eggs in 2015 are basically the same thing as Eggs in 1915, you can track inflation by the amount of money it takes to purchase something.
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        • Posted by Robbie53024 9 years, 10 months ago
          Not exactly. In 1915 most eggs would have come from relatively small farms with relatively inefficient systems. The improvements in efficiency over the past 100 years have allowed that same dozen eggs to be created (after all, you need to house and feed those chickens), gathered, inspected, packaged, transported, and sold with incredibly better efficiency and speed than they were a hundred years ago. So, that same dozen eggs is actually a lot cheaper in terms of resources than it was a hundred years ago. The improved efficiency is a DEFLATIONARY force, so what you see as the price in 2015 is not merely monetary inflation, it also includes efficiency deflation. And that has not occurred equally across all sectors of society.
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        • Posted by xthinker88 9 years, 10 months ago
          But only indirectly and imperfectly and with possibly significant time lags. And when money is digital and being pumped into large financial institutions and, in addition, the price measures are being doctored, a pricing index will not provide an accurate reflection of the true inflation of the money supply. at least until the SHTF and the house of cards comes crashing down.
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      • Posted by johnpe1 9 years, 10 months ago
        if they neglect the prices of food, housing and fuel
        in the calculation of inflation, then other prices may
        not be keeping up -- but food and housing are .....
        and fuel is dropping because of fracking! -- j

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        • Posted by xthinker88 9 years, 10 months ago
          You can't calculate inflation by the use of pricing. That's not what inflation is.
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          • Posted by johnpe1 9 years, 10 months ago
            ok; that is right. . my emphasis as a retired person
            is the declining value of my relatively stagnant $$.

            thus:::

            we need a tracking index which follows the
            relative value of the dollar. . I am sure that
            "quantitative easing" is destroying my retirement
            dollars. . and I resent the hell out of it. -- j

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            • Posted by xthinker88 9 years, 10 months ago
              It seems to me that the real problem is that even inflation (as it relates to the money supply) is a somewhat notional concept when the money supply is based on fiat. If a gold standard has $33 = 1 oz of gold and you print $40 but only have one oz of gold then you have inflated the money supply. $40 paper/$33 gold = 121%.

              When $1 is worth nothing and backed by nothing, then, essentially, every dollar printed is infinite inflation. $1 paper/ $0 gold.
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  • Posted by wiggys 9 years, 10 months ago
    5Au has good reason not to believe the data because it is unmitigated lies. If 0 was to make the statement about how good the economy is and you were to then ask where he got his information from and was it backed up by facts that could be proven you would be asked to leave the room.
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  • Posted by term2 9 years, 10 months ago
    I dont listen any more to our governments propaganda. All that matters to me is my own condition. Inflation is really expansion of the money supply relative to whatever backing the money has, NOT the change in prices that are an unreliable result of money printing.
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  • Posted by Herb7734 9 years, 10 months ago
    I never trust statistics, especially coming out of Washington. What's important to the economy is how Joe Lunchbucket is faring. Those who are employed are finding times tough because prices from the Stock Market to the supermarket are rising quickly, but income is not. The figures out of the regime are smoke, mirrors, and trap doors. Magicians are entertainers not economists.
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  • Posted by woodlema 9 years, 10 months ago
    I think Gruber should give the State of the Union:
    Speech should go something like this:

    My fellow Stupid Americans unable to distinguish what is or is not good for the economy based on your wealth of ignorance concerning the economy, Things are great. Republicans want to make you responsible for yourself, this we do not believe is fair. You should not be forced to work just so you can have health insurance or food. The rich should pay for you since they are rich off your backs. We encourage all those who do not want to work to vote 100% democrat in 2016 to continue this fast pace toward your freedom from work and efforts. Remember YOU are the majority, and the rich people and those One Percenters OWE you your livelihood.

    BY taking from the rich and giving to everyone and redistributing the wealth equally ALL can have a share in the American dream.
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  • Posted by plusaf 9 years, 10 months ago
    One of my posts on that blog...
    plusaf > wiz9999 • 3 minutes ago

    wiz, here's one litmus test... does Williams sell subscriptions to a financial newsletter or does he work for a company that sells such 'subscription wisdom'?

    If the answer is Yes, you can ignore his claims. Like Stansberry, Krugman and all the rest who have predicted about 25 of the last three recessions. :)
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