Bureau of Economic Analysis bests the Onion

P

PHOENIX TRADING

The US economy will officially become 3 per cent bigger in July as part of a shake-up that will see government statistics take into account 21st century components such as film royalties and spending on research and development.

Billions of dollars of intangible assets will enter the gross domestic product of the world’s largest economy in a revision aimed at capturing the changing nature of US output.

Brent Moulton, who manages the national accounts at the Bureau of Economic Analysis, told the Financial Times that the update was the biggest since computer software was added to the accounts in 1999.

“We are carrying these major changes all the way back in time – which for us means to 1929 – so we are essentially rewriting economic history,” said Mr Moulton.
More...

Whatever it takes to keep debt to GDP below 120% eh?
http://www.zerohedge.com/news/2013-...illion-following-addition-intangibles-economy
 
So, when counting the nations apples shows them being rotten year after year we'll now throw in a few oranges to count as apples to see if we can't improve on the results.
 
Quote from Eight:

next we won't be able to believe the unemployment and inflation stats!
More...

NEXT? Shouldn't have believed them for the last 10 years, or more. (Or, was your comment sarcasm? If so, GOOD ONE!)
 
Quote from Eight:

next we won't be able to believe the unemployment and inflation stats!
More...
I not already don't believe them but know they are lies intended to pacify the sheeple.
 
You must log in or register to reply here.
Back
Top