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Author: SuisseBear Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 489620  
Subject: Now for the real economic statistics... Date: 2/23/2006 3:10 PM
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John Williams adjusting government statistics to get some real numbers.

Result: 12%.real unemployment, 8% real CPI, real GDP contracting. Economic comments thrown in.

A few choice quotes:

if you adjust the real GDP numbers that the government releases for the myriad revisions and redefinitions [...] there's a happy overstatement of growth of about 3% on a year-over-year basis.[...]

if the same CPI were used today as was used when Jimmy Carter was President, Social Security checks would be 70% higher.[...]

average household income is dropping[...]

In fact, the fiscal 2005 statement shows that total federal obligations at the end September were $51 trillion; over four times the level of GDP. It is unprecedented for a major country to have its actual obligations so far out of whack.[...]

So there'll be an inflationary recession, which I think we're already beginning to get into, that possibly could evolve into a hyperinflationary depression, as much as I really hate to use that term.[...]

So the cures will have to be remarkable. They will have to convince people that things have changed. As crazy as it sounds, I think the only thing they will be able to do is to go back on some kind of gold standard. [...]

More here:


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