Sunday, January 3, 2010

Got gloom?

Oh, well, I just happen to have a spare cup or two on hand:
Do you believe everything the government tells you? Economist and statistician John Williams sure doesn't. Williams, who has consulted for individuals and Fortune 500 companies, now uncovers the truth behind the U.S. government's economic numbers on his Web site at Williams says, over the last several decades, the feds have been infusing their data with optimistic biases to make the economy seem far rosier than it really is.

Go here to the Fairfield [Conn.] Weekly for a long interview with Williams. The comments are a hoot, with every possible variety of despair and doom.

1 comment:

Anonymous said...

The statistics by Williams are fundamentally correct. His analogies, especially Zimbabwe are not. Expropriation of White properties and similar economic devastation due to civil war led to super-inflation. In the US, to make this short, for every dollar produced out of plain air was balanced on the backs of someone losing a job (taking money out of circulation) or a home that balanced the money in circulation. Neat, huh?