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The new GDP methodology: What you need to know
MarketWatch ^ | July 31, 2013 | Steve Goldstein

Posted on 07/31/2013 7:40:43 AM PDT by Mad Dawgg

The Commerce Department has made changes to how it calculates gross domestic product, designed to have the data better reflect the so-called knowledge economy. The U.S. government adjusted data all the way back to 1929, and other countries have or are about to make similar changes to their data.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: 1984; gdp; gdpformula; ministryoftruth; orwellian; randd
Ministry of Truth is "revising" history to make the "present" look better...!
1 posted on 07/31/2013 7:40:43 AM PDT by Mad Dawgg
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To: Mad Dawgg

That’s exactly what it is.


2 posted on 07/31/2013 7:45:43 AM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: Mad Dawgg
Gosh, according to the new methodology, the economy has done better under five years of Obama than at any time since 1929!

Boy, did I ever have the wrong impression.

3 posted on 07/31/2013 7:48:08 AM PDT by skeeter
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To: Mad Dawgg

When the facts don’t fit the conclusion Big Brother just changes the facts.


4 posted on 07/31/2013 7:58:31 AM PDT by Iron Munro (They Old. That's Old School People. We In A New School, Our Generation)
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To: Mad Dawgg

Dear Leader is right and reality is wrong!


5 posted on 07/31/2013 8:42:36 AM PDT by BinaryBoy (Socialism is built on slavery.)
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To: Mad Dawgg

HOLY FREAKING ORWELL, BATMAN!


6 posted on 07/31/2013 8:50:08 AM PDT by Crazieman (Are you naive enough to think VOTING will fix this entrenched system?)
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To: Crazieman; Mad Dawgg
He who controls the present controls the past.
He who controls the past controls the future.

FREEDOM IS SLAVERY
IGNORANCE IS STRENGTH
DEMOCRATS ARE PATRIOTS

7 posted on 07/31/2013 9:32:54 AM PDT by Hoodat (BENGHAZI - 4 KILLED, 2 MIA)
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To: Mad Dawgg

I read the title as, “The new GDP mythology: What you need to know.” About the same thing, I suppose.


8 posted on 07/31/2013 1:18:47 PM PDT by dinodino
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To: Mad Dawgg

The ministry of truth has spoken. All citizens bow down and chant “I believe”


9 posted on 07/31/2013 1:32:49 PM PDT by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: Mad Dawgg

This is the whole reason that Austrian economists reject the entire notion of measuring national economies. The reality on the ground can be outright dismal, but we are suppose to think everything is coming up roses because our official numbers say so.


10 posted on 08/01/2013 9:02:03 AM PDT by Sam Gamgee (May God have mercy upon my enemies, because I won't. - Patton)
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To: Mad Dawgg
Does this mean I have to throw away my collection of annual copies of THE STATISTICAL ABSTRACT OF THE UNITED STATES? Evidently every number in them is now "out of date."
11 posted on 08/01/2013 5:21:32 PM PDT by JoeFromSidney ( New book: RESISTANCE TO TYRANNY. Buy from Amazon.)
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To: Mad Dawgg

don’t like the results, change the method


12 posted on 08/01/2013 5:24:48 PM PDT by GeronL
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