The Ludwig von Mises Institute

Advancing the Scholarship of Liberty in the Tradition of the Austrian School

Source link: http://blog.mises.org/10993/all-those-trillions-for-a-little-white-space/

November 6, 2009 by Jeffrey Tucker

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As a result of the statistical “growth” in the GDP, the St. Louis Fed can now mark a little white space on its graphs, but it looks a bit silly here:

{ 2 comments }

Matt Blackman November 7, 2009 at 12:26 am: Give me a break! The unemployment number now and the number in the 1980s are hardly comparable. The statistic has been so drastically altered since the early 1980s as to make it an ‘apples to oranges’ comparison. The real unemployment rate today is far higher than what we are led to believe by the BLS…
Bruce Koerber November 7, 2009 at 7:48 am: This is the ‘stag’ part of stagflation!

In this case the bogus government statistics actually detect something that makes the sequence of syllables {stagnation before inflation} prophetic.

Let’s see how many of the empirical economist bozos will proudly look back at these points of data and exclaim: “See, we actually were right! It was some of the other empirical economist bozos that prematurely stopped shading the graph!”