UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next
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 464872  
Subject: Now for the real economic statistics... Date: 2/23/2006 3:10 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 78
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:

http://www.weedenco.com/welling/Downloads/2006/0804welling022106.pdf

SB
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

Russia Collapsing Again?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement