Deflation, disorder, development (and its demise), democracy (ditto) and dystopia.
posted by Gen. Glut @ 10:36 AM
I guess this goes along with the fact that the Secretary of the Treasury is a guy the administration said they'd can after the election (assuming they could find a replacement, which they haven't) and why the Council of Economic Advisors is one guy. It's CW on the left that the Bush administration can't find people to fill these posts because anyone who's smart enough to do the job is also smart enough to want to avoid damaging his/her reputation when things fall apart. But if government economic data is being manipulated, it's easy to see that decent economics types would refuse to be party to it.Hmm...
Get them General we have no use for them. Maybe you can become the Secretary of Barter in the new world order.I smell a change coming we the people need leaders!!!!
From Barry's post, I need to kick this around:"Yesterday's upwardly revised GDP data is believable only if you accepty the premise that HOME PRICES WENT DOWN IN Q1 2005."But housing has not been measured on home prices for decades. It's the rent equivalent which may have well gone down as more home owners left the clutches of the landlord (for the banker).Fester's comment there hits the spot.Still, because there has not been an effort to adjust the way in which housing is measured, (not even in an annual sort of way in which the BLS makes baseline corrections), I have to side with Ritholtz in the failure of this number to represent the economic reality. Is this practice universal? Does an inflated GDP growth number have an impact on knowledgeable foreign investors? on less knowledgeable Americans? on those (more knowledgeable) US investors who parked $240B outside the country last year?calmo
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