Skip to comments.U.S. stops following foreign money trail
Posted on 06/10/2008 3:28:26 AM PDT by Man50D
NEW YORK Foreign investment in the United States is on the rise and key U.S. businesses and infrastructures such as roads and airports are being sold to foreign investors. Now comes word from the U.S. Department of Commerce the Bureau of Economic Affairs will stop publishing a key report tracking those foreign dollars.
WND reported earlier on a decision by the Federal Reserve to quit publishing M3 data, a money-supply measure watched closely by economists.
Last month, econometrician John Williams reported on his subscription website, "Shadow Government Statistics," that the M3 statistic he compiles from available government data shows the growth of M3 at historically high rates last seen in June 1971, two months before President Nixon closed the gold window and instituted wage and price controls.
Charles McMillion, president and chief economist at MBG Information Services in Washington, D.C., also has expressed concern over the recent decision by the Department of Commerce to discontinue publishing foreign investment data and warned that may forecast an unprecedented surge in foreign investment anticipated by the Bush administration.
(Excerpt) Read more at worldnetdaily.com ...
This is kind of like when they said they were going to shut down the Commerce Dept website that has all the economic numbers in one place because of “budgetary constraints.” What does it take to keep a web page running, a hundred bucks a year? They reneged on that plan when they got too much negative publicity. Let’s hope the same thing happens here.
Yeah, can’t let anyone know how much of our country we are selling, at fire sale prices, due to our incompetence and mis-management. As I have gotten older, one pervasive (American) management trend I’ve noticed: people will make boneheaded short term decisions to look good and get promoted; damn the long term consequences for the next company and the next guy. Of course, this forces the next guy to make even MORE boneheaded decisions to do the same.
I have always felt that both Clinton and Bush wanted economic growth + entitlements at any cost to stay in power. The analogy would be an athlete usign steroids to pump up his record. We got the growth and expanded entitlements—and now we’re going to pay thru the nose for ‘em.
Too embarrassing I guess.
Must be going to revive the old “On the Road” series of movies. The first will be “On the Road to Globalization”. They don’t want anybody to figure out the ending, so they are pulling the publication.
Wonder who will play Bing, Bob, and Dorothy’s rolls? Theme by Willie Nelson?
HEY! It’s just as reasonable as so much other BS that’s being shoved off at us.
Is it possible he’s talking about some other measure? I’m trying to give him the benefit of the doubt here.
Or he knows his audience is?
We are looking at basic journalistic incompetence, or a deliberate attempt to confuse his less sophisticated readers. I'll argue it's the latter.
I can't see the BEA discontinuing any such report, despite the beliefs of our tin foil types.
switches to M3 in the second (and onward),
Neat trick, talk about evil foreign investment and then mention a soon to be discontinued report and then mention a report that ended nearly 2.5 years ago.
I think Corsi and Keyes have a lot in common. They talk a good game but when you do a little digging, you realize they both lie for the money. Scumbags. I feel sorry for the idiots who fall for their B.S.
From the BEA:
Discontinuation of New Investment Series
In order to align its programs with available funding, BEA is eliminating the survey of new foreign direct investment in the United States. The last release in this series, which will present data on new investment by foreign direct investors in 2008, will be in June 2009. BEA will continue to collect extensive data on foreign direct investment in the United States, but it will no longer be able to separately identify the portion accounted for by investments in newly acquired or established U.S. affiliates.
Ordinarily it's good news when the government downsizes and ordinarily we're not supposed to believe the government's lying numbers; but this is different. In this case the numbers can be considered bad news for America so then they must be true, and in addition they're being discontinued so that's proof of a cover-up.
That being said, I don't know if this report is useful, and I've never seen one. I'm sure Corsi hasn't, either.
You hit the nail on the head, otherwise. We can't believe the government's numbers (according to the arguments that we hear about inflation, etc.), but the moment the government stops publishing one it's a crisis in the Republic.
I find it amusing that World Net Daily hires a “journalist” who counts on his readers not reading the articles he’s writing.
It’s gets to be a pretty familiar pattern, these clowns insist that government numbers are all lies and then they turn their story upsidedown if the numbers are bad or discontinued. I’ve tried pointing the contradiction out to them but they got brains coated with Teflon and the info slides right off.