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Some of the big lies you've been told, and believe:
1. We're in a time of record prosperity; low unemployment and low inflation.
Wrong! The only reason unemployment appears to be low is because they've cooked the books on how they're calculated, once in '82 and again in '98 (equal opportunity cooking of books!). The Department of Labor said inflation was only 4.1% in 2007, which made us feel good, despite what trips to the grocery told us was the truth! But if they still calculated inflation the same way as they did in '81 it was actually 11.6%!
The Dept. of Labor tells us that unemployment is low, and if you're working, it is. But if they calculated it the same way today as they did in '81 it would really be over 12%. This really makes sense if you think about it, low unemployment forces wages up, but wages have been stagnant.
Same thing with Gross Domestic Product. Every quarter the Bush administration tells us that it' up, up and away. But if it were calculated the same as in '82, it would've been in negative territory since the first quarter of 2006.
I'm going to hold off on more of this because no one likes to read loooong OPs.
Oh, and feel free to do your own research, shadowstats dot com.
Stats are not reliable and can be torted to fit any agenda. Maybe American's have become bad workers due to self-entitlement that many believe they deserve.
Some of the big lies you've been told, and believe:
1. We're in a time of record prosperity; low unemployment and low inflation.
Wrong! The only reason unemployment appears to be low is because they've cooked the books on how they're calculated, once in '82 and again in '98 (equal opportunity cooking of books!). The Department of Labor said inflation was only 4.1% in 2007, which made us feel good, despite what trips to the grocery told us was the truth! But if they still calculated inflation the same way as they did in '81 it was actually 11.6%!
The Dept. of Labor tells us that unemployment is low, and if you're working, it is. But if they calculated it the same way today as they did in '81 it would really be over 12%. This really makes sense if you think about it, low unemployment forces wages up, but wages have been stagnant.
Same thing with Gross Domestic Product. Every quarter the Bush administration tells us that it' up, up and away. But if it were calculated the same as in '82, it would've been in negative territory since the first quarter of 2006.
I'm going to hold off on more of this because no one likes to read loooong OPs.
Oh, and feel free to do your own research, shadowstats dot com.
golfgod
Very very true.
How about CPI? M3 money supply growth?
One city-data person dismisses the stats simply because of the name of the site, "shadow"-stats. Odd thing coming from someone who was very articulate and supposedly educated.
Be careful of being fooled into the short term rally of the dollar. Fed rates are wayyyyyy too low at 2% and they have pumped an enormous amount of money into the money supply.
Stay liquid. Even in a hyperinflationary scenario, you could have a severe deflationary period to the run up when cash is briefly king.
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,516,713 times
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sheeple
Quote:
Originally Posted by golfgod
My only conclusion; Americans are sheep.
Some of the big lies you've been told, and believe:
1. We're in a time of record prosperity; low unemployment and low inflation.
Wrong! The only reason unemployment appears to be low is because they've cooked the books on how they're calculated, once in '82 and again in '98 (equal opportunity cooking of books!). The Department of Labor said inflation was only 4.1% in 2007, which made us feel good, despite what trips to the grocery told us was the truth! But if they still calculated inflation the same way as they did in '81 it was actually 11.6%!
The Dept. of Labor tells us that unemployment is low, and if you're working, it is. But if they calculated it the same way today as they did in '81 it would really be over 12%. This really makes sense if you think about it, low unemployment forces wages up, but wages have been stagnant.
Same thing with Gross Domestic Product. Every quarter the Bush administration tells us that it' up, up and away. But if it were calculated the same as in '82, it would've been in negative territory since the first quarter of 2006.
I'm going to hold off on more of this because no one likes to read loooong OPs.
Oh, and feel free to do your own research, shadowstats dot com.
golfgod
Look Golfgod alot people now-a-days are more intersted on American Idol than watching the news or learing about how to mangage their portfolio. And while I do understand your frustration at the american people ignorance and lack of willingness to do their due dilligence. One can also look at this as an opportunty to help futher oneself ecomomically through not following the heard and making smart investment choices that others will probably be to lazy to look for. Yeah I know it sucks to see America get duped. But it unfortunatly a lot of people are going to have to learn the hard way that you need to read between the lies to find the truth.
The OP and people who've already replied are right-on. Indeed this information is all reinforced with what I've learned. The Government is working hard right now to make people feel good about the US economy.... to its credit it needs to. If citizens continue to feel badly about it, it will sink like a rock since emotions (and the resultant actions) really do affect a lot of things economically. I hope people are sheep-ish enough to get some confidence back regarding the economy even if only based upon some skewed stats for the time-being. Once we get a new President, I hope they get even more confidence and have more optimism. That combined with actual programs and initiatives geared towards rebuilding the economic base of this great country is necessary for us to get out of the economic doldrums we now find ourselves within. We have a mess on our hands, and it will be through hard work and effort that we will eliminate it. Hard work and effort by not just the citizens but the Fed, State, and Local government officials as well.
I've lived long enough to see that things are generally cyclical in nature so although I might be a bit cynical, my positivity is a result of seeing previous economic turn-arounds. I don't think it is misplaced but you can bet I'm cautious these days about where I put my money.
Some of the big lies you've been told, and believe:
1. We're in a time of record prosperity; low unemployment and low inflation.
Who believes this? Now, I'm all for bashing my fellow Americans, but I don't think anyone believes we're in a time of record prosperity. If so, then I'm going to go stick my head in the sand and cry for a decade or so.
cash and hard assets will be king when banks fail. I'll be chilling on the ranch living the way men are supposed to. Get prepared and make the best of it.
Some of the big lies you've been told, and believe:
1. We're in a time of record prosperity; low unemployment and low inflation.
Wrong! The only reason unemployment appears to be low is because they've cooked the books on how they're calculated, once in '82 and again in '98 (equal opportunity cooking of books!). The Department of Labor said inflation was only 4.1% in 2007, which made us feel good, despite what trips to the grocery told us was the truth! But if they still calculated inflation the same way as they did in '81 it was actually 11.6%!
The Dept. of Labor tells us that unemployment is low, and if you're working, it is. But if they calculated it the same way today as they did in '81 it would really be over 12%. This really makes sense if you think about it, low unemployment forces wages up, but wages have been stagnant.
Same thing with Gross Domestic Product. Every quarter the Bush administration tells us that it' up, up and away. But if it were calculated the same as in '82, it would've been in negative territory since the first quarter of 2006.
I'm going to hold off on more of this because no one likes to read loooong OPs.
Oh, and feel free to do your own research, shadowstats dot com.
golfgod
Great points. I think *all* government numbers are suspect...GDP, "productivity", "growth". They're all fiction designed to distract you from what's going on. Why they're still published, or why anyone believes them...I don't know. Why they haven't been challenged more by a supposedly "independent" media....??
In some areas the media will dig around to find the truth...in sports, say the steroids scandal. Or digging around for celebrity dirt.
What would it look like if we ran the 1980 numbers using today's calculations rather than the other way around?
I dunno exactly but they'd probably look a lot rosier.
Just wait until the government puts in price and wage controls.
Then the unthinkable...
Heavy restrictions or outright denial of foreign equity ownership, perhaps followed by the passing of laws making it a federal offense punishable by jail or death to aid and abed someone wanting to get out of the dollar.
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sheeple
