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The US Department Of Commerce Officially Jumps The Shark, Will "Double Seasonally Adjust" GDP Data
It's official: after seeing it work so well for years in China, the US Department of Commerce's Bureau of Economic Statistics has officially replaced all of its excel models with just one function. The following:
As Steve Liemsan hinted a few days ago, in what we thought was a very belated April fools joke, th eBEA has finally thrown in the towel on weak seasonally-adjusted US GDP data, and as a result has decided to officially proceed with a second seasonal adjustment: one which will take all the bad data, and replaced it with nice and sparkly, if totally fake and goalseeked, GDP numbers.
As Bloomberg reports, "the way some parts of U.S. gross domestic product are calculated are about to change in the wake of the debate over persistently depressed first-quarter growth. In a blog post published Friday, the Bureau of Economic Analysis listed a series of alterations it will make in seasonally adjusting data used to calculate economic growth. The changes will be implemented with the release of the initial second-quarter GDP estimate on July 30, the BEA said."
In other words, as of July 30, the Q1 GDP which will have seen its final print at -1% or worse, will be revised to roughly +1.8%, just to give the Fed the "credibility" to proceed with a September rate hike which means we can now safely assume not even the Fed will launch a "hiking cycle" at a time when the first half GDP will print negative (assuming the Atlanta Fed's 0.7% Q2 GDP estimate is even modestly accurate).
Will abnormally "good" data be revised lower, or whether labor market data, which is already manipulated beyond comparison by the BLS will also be adjusted due to "residual seasonality"? Don't hold your breath.
And since economists pride themselves in giving complex names to what even 5 years olds now grasp is open data manipulation, the technical term the BEA will use to goalseek historical data is now also clear: "residual seasonality"
Although the agency adjusts its figures for seasonal variations, growth in any given first quarter still tends to be weaker than in the remaining three, economists have found, a sign there may be some bias in the data. It’s a phenomenon economists call “residual seasonality.”
More details on how economics has just devolved into a complete farce on a scale that even the Chinese Department of Truth will find laughable:
“BEA is aware of the potential for residual seasonality in GDP and its components, and the agency is looking for ways to minimize this phenomenon,” the division said in the post. More information will be available in a BEA Survey of Current Business report scheduled for mid-June publication.
The agency is exploring ways to address possible issues in measures of federal government defense spending, where research has shown that first- and fourth-quarter growth rates are lower on average, the BEA said, reiterating a statement given to Bloomberg published May 18.
It will also start seasonally adjusting some inventory components that currently aren’t, and also some data from the U.S. Census Bureau’s quarterly services survey, it said. The latter should boost the accuracy of consumer spending estimates, it said. The changes to the calculations will cover the period from 2012 to the present.
Additionally, the BEA is reviewing all series that figure into the GDP calculations to find and fix any leftover biases that exist within its current methodology.
And to complete the total collapse of US reporting integrity, here is the full BEA blog post on the topic of goalseeked data, aka "residual seasonality."
* * *
BEA Works to Mitigate Potential Sources of Residual Seasonality in GDP
The Bureau of Economic Analysis (BEA) is working on a multi-pronged action plan to improve its estimates of gross domestic product (GDP) by identifying and mitigating potential sources of “residual” seasonality. That’s when seasonal patterns remain in data even after they are adjusted for seasonal variations.
Each spring, BEA conducts an extensive review–receiving updated seasonally adjusted data from the agencies that supply us with data used in our calculation of GDP. Most of the data the feeds into GDP is seasonally adjusted by the source agency, not BEA. At the same time, BEA examines its own seasonal factors for those series that BEA seasonally adjusts itself. All that work takes place in preparation for BEA’s annual revision to GDP and its major components, which will be released on July 30.
As a result of this ongoing work, BEA is aware of the potential for residual seasonality in GDP and its components, and the agency is looking for ways to minimize this phenomenon.
• One of the areas we’re currently reviewing is possible residual seasonality in measures of federal government defense services spending. Initial research suggests that the first and fourth quarter growth rates are lower on average than those of the third and second quarters. BEA is developing methods for addressing what it has found.
• Time frame to implement: Improvement will take place with the release of second quarter GDP on July 30. Period covered: 2012, 2013, 2014, and forward.
• BEA also will begin adjusting certain inventory investment series that currently aren’t seasonally adjusted.
• Time frame to implement: Improvement will take place with the release of second-quarter GDP on July 30. Period covered: 2012, 2013, 2014, and forward.
• Also as part of this year’s seasonal adjustment review, BEA is planning to seasonally adjust a number of series from the Census Bureau’s quarterly services survey that now have sufficient time spans to which seasonal adjustment techniques can be applied. Currently, these series are smoothed using a four-quarter moving average to attempt to smooth out seasonal trends in the data. While BEA’s review had not identified residual seasonality in the PCE services estimates, applying statistical seasonal adjustment techniques to these indicators will improve the accuracy of the underlying trends in PCE estimates.
• Time frame to implement: Improvement will take place with the release of second quarter GDP on July 30. Period covered 2012, 2013, 2014, and forward.
• BEA will review all series entering the GDP calculations to identify, and where feasible, mitigate any residual seasonality within its existing seasonal adjustment methodologies.
• Time frame to implement: Review will take place with the release of second-quarter GDP on July 30. Period covered: 2012, 2013, 2014, and forward.
• Longer term–beyond July 30–BEA will continue looking at components of GDP to determine if there are opportunities to improve seasonal adjustment methodologies. Should BEA identify other areas of potential residual seasonality, BEA will develop methods to address these findings. If research suggests that residual seasonality originates with already seasonally adjusted source data, BEA will work alongside its source data agencies to determine the appropriate course of action.
* * *
Some further thoughts: when, not if, the Fed's rate hike leads to a recession, that too will be seasonally adjusted away. And QE4 will be called tightening in the name of "residual seasonality."
And, of course, once the Fed's credibility finally crashes, its seasonally adjusted credibility will be at an all time high.
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hahahahahaha we swindled some folks
If at first you don't succeed..tweek the bullshit some more...
http://www.bloomberg.com/news/articles/2015-05-22/gdp-changes-coming-in-...
Clown show
In Soviet America, shark jumps you!
Jackoff Smirnoff
I need one of those for my checking account. Think the Credit Union will notice?
Explained
https://www.youtube.com/watch?v=Y8sNT-VFCow
Ill make it easier....
GDPx1x1x1x1x1= 5x GDP
Common Core Bitchez....!
Now someone pass me that bag of unicorn farts to huff.....
FIFY
RIPS
The most important 'seasonally adjusted' shark jumping feat ~ SINCE FONZ!
https://www.youtube.com/watch?v=t4ZGKI8vpcg
In OTHER shark jumping news...
http://www.msn.com/en-us/news/world/indonesian-woman-who-offered-to-wed-...
Hey, start with the conclusion and work backwards! Perfect.
Works for "climate science" why not try it for economics?
pods
OMG..
We are all Animals
https://www.youtube.com/watch?v=Y0cF2piwjYQ
Was that Lennon or Belushi.. I forget.
should read "residual bullshit"
But what is even more amusing everyone also pretends to beleive it and salivate all over - want to smack this ANALysts when I see how confidently they talk about US recovery....
2 + 2 = 239847/289^2-687349/300 - 0.729652023642756512334223329063 = The New Rules of Global Finance 4 The World.
If the doubly seasonally adjust winter up they must doubly season adjust summer up, correct?
Don't be a jerk 'cause the model don't work
Stick a fork in it, it's done.
Anybody with skin in the game has been forewarned.
Its OK, I can handle this one. I took many years of complex algebra, diff-equations, and non-euclidean geometry. Can someone please get me a drink while I fix this mess.
double.....double.....double....
oh yeah:
https://www.youtube.com/watch?v=vVXEQ8hjyGI
OK, I've been making great progress on this GDP equation stuff, but I keep hitting one problem in the solution.
SQRT(-1)
Does the group out there have any ideas?
I looked over your figures and I think I may have found the problem. You forgot to include the square root of stupid. Try adding that in, and you may come up with a number that comes close to this fucking bullshit .gov answer.
That would be an imaginary number - exactly what we are dealing with so good job!
In a world of lies, the only enemy is the truth.
We've always been at war with EastAsia.
Totally false formula because you left out pi ...you can't have a legit solution with out pi.
To reach happy ending must eat pi @ (y).
"Hey, start with the conclusion and work backwards! Perfect."
Pods, you just described the 9/11 Commission findings!
That's the problem with lying; once you start you must tell increasingly greater lies to cover the original ones.
"once you start you must tell increasingly greater lies to cover the original ones"
Very true.
Even worse when we have a fiat money system whose foundation is theft.
The derivative of theft is corruption.
Don't forget all the other adjustments they made to boost GDP back in 2013 and of course, we still don't (cough) mark to market, nor
will we ever again.
If your pens is 5 in you need to tell her it's 9 in
When the fly is unzipped it's too late....sheep got to swallow
"once you start you must tell increasingly greater lies to cover the original ones"
eventually someone gets hurt very bad, so bad they can't breath...
The data are being shaped around a policy of raising interest rates in order to support the dollar, which is closer to the precipice than most imagine.
Exactly correct. The world is entering the Currency War Cage Match to the Death. The BRICS and others saw what happened with the Arab Spring, when the sheeple revolted because of runaway food and fuel prices, causing weak govts to fall, all aided by the West fiat banking system that sacrifices every other currency for the dollar. Now these BRICS leaders realize they are closer to the guilotine then they are Western Bombs, so they are saying "Fuck You", and looking for any alternative to the slavery of the US dollar. The Western Banks are not going to go away without the Mother of all fights, all the way to WWIII if necessary.
But as George Costanza said, "It's not a lie if you believe it."
Leave it to an ashkenazi satanist.
"...increasingly greater lies..."
Oh, you mean QE1, 2, 3, 4...etc.
Soon just making shit up will be official policy for the idiocracy.
Soon?
Make believe IS official policy for the idiocracy...NOW.
Bookmark this. Now that the "old" method is replaced by the "new" method, I want to see some old vs. new comparisons a year or two from now. Because nobody will care what number the "old" method will spit out any more. Sort of like comparing today's CPI numbers with those from the 80s.
Upward GDP bias, anybody? You bet your ass.
I TOLD YOU none of us would live long enough to see the next declared recession. And here you go.
While I'm good and fucking worked up, I also need to say: STEVE FUCKING LIESMAN?? He's not even a fucking economist. He's got a degree in journalism. And he doesn't even do that well. Annoying prick who talks over all the guests like he's king shit or something.
Shadowstats will probably do it. They do the comparisons now for several economic indicators that have changed over the past 30 years (like CPI).
Right out of 1984.
20>30.
Nuff said.
as everyone loses confidence in what is reported for ALL metrics the BLS puts out - for those who can pay the cost there will be new standards of performance for the ecconomy set up and sold dearly for access
The average investor will fly blind right into a wall that the big guys know is there and will not be able to do anything about it.
This is another form of rents- reliable standards going away
Liesman, it's all in the name. Liesman should be euthanized immediately. Fuck moronic yes man makes me puke.
Like many other reasons people have shut off that pump-channel.
Nearly everyone on that channel has PhD in oligarchy boot-licking.
Advertisers are throwing away their money posting anything on CNBC. Just write-offs for them
why the hell exactly should we the people keep paying these fools' salaries and pensions?
The Dept has clearly outlived its usefuleness to America
We pay them because people with guns tell us we should. Don't fool yourself that there is any other reason.
Why not multiply by 10?
You're hired!!!
What if you get to 10 and ten just isn't enough?
"It goes to eleven."
Multipliers can go to infinity, I'm pretty jealous about that...
You could too 813....
It just takes doing..
https://aadivaahan.wordpress.com/2013/05/10/wisdom-for-warriors-no-pain-...
I say we make this simple and just use the year date as the multiplicative factor . That way, we are always guaranteed a growing economy !!!
In 2008, the 25-54 yr/old segment of the US population began outright shrinking (the Ponzi had run out of new "investors")...the market implications were decidedly not good. As Bush said in Dec. '08, "free market principles were abandoned to save the free market". In the next year or two, the 25-64 yr/old population segment will likewise begin shrinking and do so for 5 to 8 years. And this is happening across almost all advanced economies.
The Fed and CB's are simply running a con game to avoid outright panic of the masses and meanwhile stuffing the pockets of the greatest among us at the expense of the vast majority...this was a system premised on ever more population, consumption, investors. The entire premise was always in trouble but now it is totally broken. We are presetly in the full on fucking Wile E Coyote moment.
Economists and Fed chiefs enjoy explaining the growth of the US population as a part and parcel of the US "exceptionalism" meme. But the truth of our economic troubles (and OECD nations alike) lies in slowing population growth and the components of that slowdown. The core populations are shrinking...the old are swelling...the young are barely growing.
http://econimica.blogspot.com/2015/05/the-truth-of-great-financial-crisisand.html
When you have demographics against you, interest rates at zero, record debt to GDP, and you are likely beginning a recession while in the midst of the greatest asset bubble of all time...below are some things to consider while Wall St. and the Fed tell you all is well!?!
http://econimica.blogspot.com/2015/05/reality-check.html
All seasonal adjustments are unnecessary. That's why they make 12-month moving averages and YoY comparisons.
That would require thinking on the part of those who read the numbers. And if there's thinking involved, they're going to do it for you. Their way. Not your way, which might rightly lead to the conclusion we're in the middle of the second Great Depression.
Lies. Damned Lies. And Liesman.
Aaaaaaararrararraaaggggg!
They pretend to tell us the truth and we pretend to believe them.
That is mainstream media journalism for you.
The only way I know I'm not living in a Rand novel is that she would have considered naming a character 'Liesman' too heavy-handed.
And a Whitehouse spokesman "Josh Earnest"
josh jäSH/ informal verb-
1.
tease (someone) in a playful way.
"he loved to josh people"
-
nounNORTH AMERICAN
==
ear·nest1 ??rn?st/ adjectiveIt's like a porn name, but for someone in politics.
Most likely these names are CIA created as these are agents operating from within the Whore House.
like 'dan rather' and 'morely safer', etc...
we're having jumbo shrimp tonight!!!
Or a Central Banker named Now Wot NY repatriating gold from the BOE. It is almost like he was appointed on purpose only for his name to be used as a secondary signalling propaganda command.
https://en.wiktionary.org/wiki/wot
Then almost like the computer networks make decisions in a vacuum we just happen to get this story about Brexit leak by the BOE.
http://www.zerohedge.com/news/2015-05-22/bank-england-accidentally-e-mai...
We know the algos that move the computer networks trigger on words/hidden commands in news/propaganda headlines/stories.
http://www.zerohedge.com/news/2015-05-22/austria-confirms-faith-fiat-fad...
Translation: They want debt-to-GDP to be below 100% and they want a AAA-rating forevermore no matter what?
goddamFUBARtoHell.
The national debt total hasn't moved in months. If they report it they will be in violation of the old debt ceiling. They are, but they just leave the figure at $18,112,975,000,000. It has been ignored since March 13th.
AAA baby, yeah!
Circular referencez, bitchez!
Just keep hitting F9
Next we will have 5-year Plans and Great Leaps Forward
Good news, Comrade!
Da comrade, we have a bumper crop of statistics this year.
What's with all the Lies, man?
C'mon, it's an Onion article, right?
" "the way some parts of U.S. gross domestic product are calculated are about to change in the wake of the debate over persistently depressed first-quarter growth."
I've watched my country slowly, and now not so slowly, adopt the Soviet USSR method of news reporting and economic data releases. Us older folks remember the Soviet tractor production numbers, or the number of new toasters and fridges the Soviet heros of labor were producing. It was all lies, and that is why even the CIA failed to predict the collapse of the USSR. In fact, in 1984 [odd date!], after an extended visit to European USSR, I came home and told everyone I knew that the USSR was in near total collapse, and would be a failed state shortly. At a time the US media and CIA said the USSR was a strong forceful growing threat, in fact, it was all but over.
Here in the USA, we are failing, and failing fast. No honest person can argue that without the extraordinary privilege of printing the world's reserve currency, the USA would be right now in the deepest depression it ever experienced. Let that sink in, because it is a fact. The US government spends 2X it's revenue. That included military, social programs, capital investment, debt repayments, and administrarion. The people, have lived on rising public debt, even though fake figures have shown people paying down debt, this is a lie. Another lie.
The rulers are desperate, so desperate that have aped the Soviet System of lies and more lies. Economic figures, unemployment, GDP, debt to GDP, real Military spending, is all lies. Remember, the Pentagon has a 50 billion black budget that is not even part of the regular published defense budget. If you add CIA, NSA and Pentagon Black off Budget spending, it is more like 200 + billion.
A house of cards, built on money printing and lies. The American people are so media brain washed and public education dumbed down, they haven't a clue!
At least one thing in common: a bulbous, cumbersome government. End result will always remain the same.
Mr. Burton,
Have you ever considered a SafeHouse in CHE when the USD Collapse/Adjustment occurs?
Collapse?- we'll just seasonally adjust that too!..
That just about sums it up.
At the time the Soviet leaders knew it to be a house of cards and were divided into two camps on how to procede. The hawks wanted to use the one remaining asset, the military, and invade Northern Europe to knock out the opposing Western powers giving them breathing room. Gorbachev and the other doves wanted to follow a route of making friends with the West. In the summer of 1984 the Warsaw pact had their summers war games designed to test one question, could the military supply system move enough supplies over one rail line (as much as they assumed they could keep open despite NATO bombing) to supply an invading army. For weeks they moved supplies up the single rail line to the Kola Penisula, stockpiling them in a monsterous ammo dump near Murmansk. No one knows what happened, I like to blame a drunken sailor taking a smoking break, but the ammo dump blew up in an explosion that quickly brought complaints about violations of the nuclear test ban treaty and 40% of the Soviet's ammo was gone in what must have been an impressive fireball. Without enough ammo for an invasion the doves prevailed and history moved as we now see it.
The US knows the house of cards is going to fall, what power struggles and plans are happening now that we don't know about? I don't know how an explosion can neutralize the Jade Helm test but we can pray.
The CIA knew the USSR was about to collapse. They told Senate and Senators with close ties to MIC told their lobbyists. Alarm bells went off because once the threat was removed, the ongoing massive funding for MIC would be much much more difficult.
They kicked the arms race into hyper gear just around that time frame and setup the actor Ronald Reagan to tell Gorbi a few years later "Mr. Gorbachev, tear down this wall" when in fact there was no option but to tear the wall down.
Same script was tried in Iraq which is why GWB declared "mission accomplished" when there was little fighting left and just before the insurgency started. They misjudged the size and the potential of the insurgency.
Do not ever underestimate what CIA and US Senators know and why certain policies are crafted.
Patriot Act as well as the Bailout Legislation were all drafted and copied several months before 9/11 and the GFC struck. Then they gave Congress a few days to look over thousands of pages and forced them at gunpoint to vote on this. Surely sweetening their votes with a backroom deal for themselves and possibly the constituency.
Thanks to Climate Change, seasonal adjudtments are now double-plus good.
I'm investing in Florida sea walls. ALso looking into land fill and sea wall firms in Virginia. Norfolk and the US Navy are already spending hundreds of millions to raise the Navy piers and Docks. Sea Walls are next. Some savy investors are going to make a boat load of money! Floridia beach front property might be a good thing to get out of, especially if you are young, the old folks should be fine for a decade at least.
Sell Florida beachfront to Canadians and Russians!
"A boatload of money"
I saw what you did there
If there actually is any sea level rise (which I doubt, since a marker made by explorers in 1857 near New Zealand shows no such thing happened), it will be so small and take so long, that the pay-off might only come in a thousand years.
It doesn't matter... Traders know the figures that are currently published are complete malarkey.
This is going to end up backfiring on the Fed. and .gov when they raise rates. The only thing propping up the markets currently is ZIRP.
Everyone knows this, and as soon as rates move higher it's game over.
For a long time now, the slightest hint of a return to market interest rates or a Fed rate increase has been enough to panic the bulls. In the last 3-4 years, nearly every market down turn has been interest rate related, rumor of a hike, and stock sell off. Then the Fed panics and rushes in to assure traders that ZIRP is here to stay.
The BEA statisticians are just showing off to try to get a job at the IMF.
The question isn't whether people will still believe government numbers after this.
The question is how ostensibly sentient people ever believed the government numbers in the first place.
Yeah, how do they know it isn't the other three quarters that are being over measured and Q1 is the more accurate? Oh wait, they're bureaucrats...nevermind!
I'm guessing that the Bureau of Economic Analysis medical plan includes free prescription drugs.
Autoregressive models use the error term of the primary model as an subsequent input to "self-correct." These can be handy tools for time series functions that have inherent (known) variability. But they can also be used to cover for a horribly mis-specified primary model.
I've watched a lot of serious people apply a lot of floating point processing capability against data that are poorly modeled. The rise of cheap, affordable computing power and exotic mathematics has not led to a better understanding of human behavior. All it's really done is enabled people with an agenda to have their way (and gain power as a by-product).
On behalf of all of the people who earned degrees in econometrics way back when, I apologize for the sloppy, juvenile work in a once important, interesting, and respectable field.
-economessed
If we only had enough central planning we could create a world of plenty, of leisure and of total security forever...!
Yes. You got it.
They need to transform it into the Economics Enforcement Agency...with Police powers of arrest for violators of the goals which they seek.
Now that will also increase revenues for the Gooberment also.
The muppets must spend.
Upon further consideration...
There's many more moving parts in play than just U.S. macro. We have over extended valuations & credit, over capacity, poor earnings, low job quality, low participation rates, global macro/geopolitical, real estate /student loan debt and a myriad other issues that will take the casino down.
Shit! Why didn't LTCM think of this? Once your foundational assumptions prove wrong, jigger and double jigger the data! Reality is a 12bln year bubble.
we may need to adjust the calendar as well
The Sixteen Trillion Dollar Economy. Gentleman, we can revise it... we have the technology.
'She's breaking up, she's bre--a---kkkk--ing u-------'
Actually....when looking at the data again from 1929...the market was not down but was robust and growing at 20%
Yes all was rainbows and unicorns during the 1930's.
He who controls the present controls the past,and he who controls the past controls
the future.
By any other name, the United States of America is now a Banana Republic - not that it hasn't been for a while already.
Remember Banana Republics don't blame the weather.
As my Physics prof told me...Garbage in, Garbage out
I am investing in the economy. I got some blow and I have a date with a hooker tonight...
How can you play rugby high on cocaine?
Its only a prop.
I'd like to see some real journalist somewhere track down the real modern day Winston Smith, i.e. the REAL GUY in charge of committing the fraudulent "seasonal adjustments" in government data.
I'd also like to know the name of the REAL GUY in charge of pressing "Enter" when the Fed decides to fraudulently write $1,000,000,000,000 checks to the U.S. people to buy bonds (and thus illegally create money). That's where the story is.
But who cares about THAT?
A Federal Reserve Note isn't money - it's debt. Perfectly legal to create credit.
The secret service may not agree.
All the things we used to laugh at, we now are
In other news, several staff economists at the Federal Reserve bank of Atlanta recently vanished. Blood and other evidence found inside homes suggests foul play but authorities are waiting before they rush to judgement.
Can someone just password protect the fed's spreadsheets.
Another solution is to ban all negative numbers.
|anynumber| = problem solved
It's fucking sad watching America go down the shitter. YOU GUYS FUCKED UP 240yrs of hard work and sacrifice because you couldnt get off the fucking couch!
Anyway it doesn't matter what this new lie is, nobody believed the last lie and nobody will believe the next one either.
Unless you have a vested interest in believing lies of course.
just for clarity, to accomplish this they "should" seasonally adjust the 4th calendar qtr down, no?
Why not save time , energy and money and just assign one person in the govt to pencil in GDP with whats desired.
Keep growth at a perfect 3.26% compounded annual growth, rounded to 3.3% til the end of time.
if they report 4.5% growth, then even jobs wil go perfect full employment, in fact 120% of full employment.
As Buffett says, don't bet against the US.
Manipulating and falsely reporting government data is how the system of overt lies is perpetuated. Sooner or later though, liars always get caught. Once public opinion turns against the system, catastrophy can't be far behind.
http://www.globaldeflationnews.com/inflation-vs-deflation-part-2why-year...
Just have banks pass around 500 billion dollars a quarter for servicing each other that would increase GDP, WTF the difference. Have the FED and every other Central bank print the equivalent of their countries debt and be done with it.
Eventually nobody will be "investing" because anyone with an IQ of 80 will know its all bullshit.
We're all living in a make believe ponzi of a world.
In a future near you:
Goldman: what's the current quarter's GDP going to be?
U.S. DOC: what do you want it to be?
ALL of these fuckers need to be in jail!
Sorry, jail is too cushy for these reprobates ... Devils Island on the Mosquito Coast (with no coke or hookers) would be the natural consequence
Nail Gun Idol
Wouldn't it be strange (great) to get two numbers ... the raw data and it's adjustment side by side
Winston Smith lives!
Liberty is a demand. Tyranny is submission..
And to imagine that when I first read 1984 as a teen, I thought Winston Smith's position and responsibilities ridiculous.
Government lies used to have a tenuous link to reality. You could plausibly accept the lies as truth if you didn't want to stay informed. And the liars made an attempt, albeit half-hearted, to hide the evidence of their whoppers.
Now they don't even pretend anymore. The deception is right out in the open. Their audience consists of tens of millions of Americans "educated" in government schools. They are at best apathetic functional illiterates. They don't seem to care about being deceived. They've got reality TV, Kim Kardashian Instagrams, and free porn to keep themselves occupied.
Maybe the zombies will begin to care when their 401(k)s and IRAs become government property. Maybe when their bank accounts are used for bail-ins, they'll put down the TV remote and get pissed. By then it's too late.
Brought to you by the same propaganda script writers who thought up the flonase 6 > 1, this changes everything meme.
We Are Borg
https://www.youtube.com/watch?v=AyenRCJ_4Ww
Yes you are especially if you are owned by a cellphone. I would bet if you a large segment of the population went cellphone less for an extended period you will see a significant spike in brain cancer cases among those that did.
You will pay a carbon tax.
You will install a smart meter.
You will believe in the collective.
Resistance is futile.
You were assimilated already even prior to cell phones you just don't know it yet. The brain tumor stimulaters just allow for a personalized experience.
Terrific. Just terrific. Why don't they just stop measuring and reporting altogether? It would be much more exciting if they would announce the number like they do with the "power ball"? They could have a show on tv, roll a big wheel and let the sheep bet on it.
In fact, there are only two reasons why the State collects these data. One is propaganda - making things look better than they are. The second, and more important one, is that the data can be used to justify meddling with the economy. And that is all there is to it...beyond this, the data have only value to economic historians, but to no-one else.
Keynesianism relies on accurate data to tune the economy. Accurate data is a stated core value. Otherwise Keynesianism does not work. How could it? This should remove all doubt that there is even any sort of Keynesian economics going on. Fake data means only one thing. Denial and failure. They gave up even trying on the economy. The Fed polices will only continue to protect the banks because the Fed is the banks and that is all it has ever protected.
Serious question. If they are making 1st quarter look better than it really is, isn't the second quarter just going to look like ever shittier than it would have been since it is measured quarter over quarter?
Serious answer: Liars lie. They don't confine it to one quarter.
Don't they have to declare recession if it is two neg qtrs. in a row ?
nah. this isnt ignorance, or stupidity, or any of those trivial dismissals.
this is what a OWNED Slave State does. Bodly LIE.
this is Orwell. This Eurasia. this 1984.
any suggestion its stupid, or weak minded, or dumb whatever...is fucking childish. when the guy in the hockey goalie mask comes at you brandishing a clever... its not a accident when you get cut.
wall st banksters, as BiS / Global Banksters Inc. Proxies, are in Scorched earth Mode. Carving out the remainder of the carcasss, formerly know as the USA.
this isn't obummer, or bush, this is a century + of Central Bankers being the parasites they arre. now, the hosts are finally dying, and these ar the last gasp efforts to kick the cann just a lil bit longer.
elections, climate data, bls, earnings reports, the size of my tallywacker... why not.
Tumbling into the worstest Global Depression in 100 years.
Can they tweak tax income the same way?
They already have and there is more of Obamacare to be revealed next year. You think it is expensive now and it is; it is about to get much worse. You know, it is one thing to require people to have insurance and another to decide a "blue-print" as one size fits all. Anyone who comes out with a cost saving plan has and will be labeled a "radical" coming form the ones whose playbook is "Rules for Radicals".
Why not adjust (down) for ZIRP and QE?
Oh baby...mitigate my seasonalities one more time....ohhh...that feels soooo good...
Let's all adjust our declared income so it is more beneficial. Coo? If there is no baseline because the metrics are changed, what the hell is the point of reporting anything?
Calm down, insanity is a completely normal symptom in central planning.