The Shadow knows! (ShadowStats, that is.)
If you ever want to know the country’s true economic numbers the first thing to do is ignore what the American government is telling you. Their figures are manipulated to hide the truth about what kind trouble we’re in.
One very reliable source for the true economic figures is the great John Williams’ ShadowStats.
Take inflation for example. All the moneyprinters tell us to relax because there’s no inflation. But after experiencing the inflation caused by Nixon cutting the dollar’s tie to gold they decided to change the way inflation is measured. Williams explains here.
Look at this comparison between inflation measured under the 1980 CPI vs. the way they measure it now.
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And since they are supposed to factor out inflation when calculating GDP they get to lie about that too. See below:
Unemployment is also much worse than they tell us. Look at Williams’ unemployment chart:
But here is the worst news. Williams has just released his estimate of the true 2012 budget deficit, using the Generally Accepted Accounting Principles instead of the bogus method used by the government. As a matter of fact, if any company tried to use the accounting methods the government uses they would be charged with fraud. And the true budget deficit? You thought a whopping $1.4 trillion, or 40% of the budget, was a disaster?
Try 6.9 TRILLION DOLLARS!!!!!!
What’s the word for much, much bigger than whopping?
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