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Peter Schiff: GDP Propaganda Exposed
You Tube, Schiff Report ^ | 22 April 2013 | Peter Schiff

Posted on 04/28/2013 5:36:32 PM PDT by Lorianne

video 16:49

TOPICS: Business/Economy; Government
This is getting even more insane!
1 posted on 04/28/2013 5:36:32 PM PDT by Lorianne
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To: Lorianne

thanks for to listen now

2 posted on 04/28/2013 6:02:02 PM PDT by blueyon (The U. S. Constitution - read it and weep)
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To: Lorianne
It is called cooking the books. I hope Rush picks it up.
3 posted on 04/28/2013 6:10:40 PM PDT by mountainlion (Live well for those that did not make it back.)
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To: Lorianne

No problem...low information voters don’t give a rat’s behind, so long as they keep receiving free stuff.

4 posted on 04/28/2013 6:40:49 PM PDT by entropy12 (Even tho Obama is now a lame duck but with 2014 House majority, he will be dangerously socialist!)
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To: Lorianne

Chris Martinson talked about this in this 2009 video:

The word is “Hedonics”. It is used to falsely increase the GDP and falsely reduce the inflation rate.

5 posted on 04/28/2013 6:46:38 PM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Lorianne; 1010RD; Toddsterpatriot; Mase; 1rudeboy
Here's a transcript of Schiff's rant for my fellow readers:

you know it's ok of course in dance and that increase but they want to close   their eyes to what should be obvious that the government is just lie   about this kind of stuff   here is some another changed its in this thing and apparently this is getting the   for the deflator   right when they try to calculate inflation the government is going to   come up with a new way of majoring in cost   of bank's services and having a bank account   no doubt the goal they are   he is to reduced   the cost component of banking   so that the inflation number will end up being lower so the government is finding   a way to make the g_d_p_ bigger   by both throwing things into the g_d_p_ that don't belong there   and by making a different or smaller so that they can make the the real number   appear to be bigger   fragment brother sent me and i get a lot of these from people in the mail   sent me uh... is uh... indication of inflation is real-world   i he had a bottle of uh... as spring   uh... volcanoes its engine eric wright eight aspirin   five hundred pill bottle materiality just ran out   and the this figure on the last bottle   was thirteen ninety nine   and a new model for the same number of pills of the exact same generic aspirin   now cost eighteen twenty nine   and of course he's had it for a few years but he's looking at the expiration   dates on both so we can pretty much   guess about how much time has fifty-two transpired   between the thirteen ninety nine model   and the eight twenty nine model   and according to my brother it translates into a ten percent increase   in the price of those aspirins   per year   are over the time period on a short sees that same ingredients nothing is really   changed   in the ass for it's just another anecdotal evidence   of a price increase of about ten percent per year over the past three or four   years   not be one-and-a-half percent increase that the government claims and i know i   know there's all sorts   of anecdotal evidence is that what you peter you can't you can't just find one   thing   it's not just one thing it's almost everything find me something that isn't   going off   in price attn   here finally things are going up accorded the c_p_i_ hour by those things   you know   disturbing to you by your going up much faster then the c_p_i_ they don't   actually sell c_p_i_ units   uh... they actually sell real things   and prices are going up and now of course it's gonna look like the economy   is getting bigger uh... even though it isn't and this is just more flop on top   of flopped   our g_d_p_ is one big y   who knows are what it really is but it's a lot smaller than what the government   claims   which means our deck in g_d_p_ numbers   or already far bigger   uh... than anybody cares to realize and why that's important   is because the real g_d_p_ gives you the ability   to service your debt   but if you have a bs g_-eight g_d_p_   that's artificially inflated   based on creative accounting that'd it does it mean the economy is generating   the income necessary to service   all of that debt  

Amazing; people pay him money to say that stuff...

6 posted on 04/29/2013 6:05:45 AM PDT by expat_panama
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To: expat_panama
Here's a transcript of Schiff's rant

Whoa, change that to ...

i found out about what the u_s_ government had planned before revising
the methodology for computing g_d_p_
just this morning
i was reading this piece in it the financial times
u_s_ economy gets a hollywood makeover
and the idea is to change
the way they can pw g_d_p_
the result is going to be a much bigger g_d_p_
uh... what a coincidence
you see that's what the government does write whenever they don't like the
the changes in that but al ology
for calculating
those results
see when it comes to inflation
the numbers were to hide in one of them small
so they change the way
they calculated inflation and the result is less inflation
accorded the government
third they've been doing the same thing with g_p_ this is not the first time
they have changed the way the compute g_d_p_
  within goal of producing a larger number
this is exactly what they've done
now doesn't mean the economy's actually any bigger
but they can pretend it's bigger

now why does the government of pretend the economy is bigger what did it really
well you know just like any kid you know
he'd like to pretend that he got an a
now even though is you know he he's he's getting a lower-grade right it's good to
pretend that you're doing better than you are
and that we're gonna do and why do we want to attend were doing that are
because then it will make that debt look smaller
if we can claim we have a bigger connie
then we can claim we can handle it that
and maybe some of our creditors will be dumb enough to believe the hype
but let's look at what they're going to be changing
in the uh... the the g_d_p_
well most of the changes are gonna com to the investment business investment
member g dot
g_d_p_ is c

...and then it goes on and on here...

7 posted on 04/29/2013 6:37:49 AM PDT by expat_panama
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