2houndz

GDP and the Decline of National Statistics

bds 231 - That's a great idea to have privte companies collect "accurate" data and sell it. Economists do that. In fact, Alan Greenspan's company Greenspan Kennedy has been doing it since Alan was a young man, which was a long time ago. Of course they often use government data, but they try to get to the "real" number for clients making business decisions.

Jason C - I think you made your own case against yourself.
"The masses aren't duped by government economic numbers, because the masses don't know government economic releases from their anatomy."

They may or may not know their own anatomy, but they know inflation when they see it at the gas pump, grocery store and anywhere else, and they adjust their lives accordingly, which they are in fact doing. Nobody's smarter than Mama with five faces to feed and a tight budget.