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Posts Tagged ‘U.S. economy’

The Charts The Government Doesn’t Want You To See

August 2, 2011 Comments off

wealthcycles

A healthy skepticism of government statistics is one of those self-preservation mechanisms that keeps us from hurting ourselves. Misleading official statistics too often lead people and businesses to act contrary to their own best interests and plan for scenarios that never happen.

We have always questioned what the government gives us; it’s not only a self-preservation mechanism, it’s part of our patriotic duty in the democratic system.

Take these two charts, presented by Robin Harding over at the Financial Times Money Supply blog. One is of the U.S.’s real GDP in dollars, and one is of the percent change of real GDP. The green bars are the government’s GDP estimates in June 2010, the blue are estimates from a year later in June 2011, and the red are the most recent estimates, from July 29, 2011.

What the charts are screaming is that the government has a consistent tendency to overinflate GDP numbers, and that the United States never really emerged from recession.

Take the second quarter of 2009—which has been continuously revised lower to the tune of a quarter trillion dollars. That’s enough to pay the annual median income ($52,000) for 4.8 million U.S. families—no small error. The percentage change chart shows something starker—a consistent fall of GDP since early 2010

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All Eyes on the U.S. Dollar: Danielle Park

June 9, 2011 Comments off

People Of Earth: Prepare For Economic Disaster

March 9, 2011 Comments off

theeconomiccollapseblog

It is not just the United States that is headed for an economic collapse.  The truth is that the entire world is heading for a massive economic meltdown and the people of earth need to be warned about the coming economic disaster that is going to sweep the globe.  The current world financial system is based on debt, and there are alarming signs that the gigantic global debt bubble is getting ready to burst.  In addition, global prices for the key resources that the major economies of the planet depend on are rising very rapidly.  Despite all of our advanced technology, the truth is that human civilization simply cannot function without oil and food.  But now the price of oil and the price of food are both increasing dramatically.  So how is the current global economy supposed to keep functioning properly if it soon costs much more to ship products between continents?  How are the billions of people that are just barely surviving today supposed to feed themselves if the price of food goes up another 30 or 40 percent?  For decades, most of the major economies around the globe have been able to Read more…