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Hard Numbers -- the Economy Is Worse Than You Know

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posted on May, 8 2008 @ 09:45 AM
Harper's has a fantastic new article out that shows how exactly the government is cooking the books to make the economic situation look much better than it actually is. I knew about most of the things mentioned, but it's a very nice compilation of facts, plus, they also provide a history of which president implemented which still used measure to "beautify" the numbers. This has been going on since the '60s, folks!

Ever since the 1960s, Washington has gulled its citizens and creditors by debasing official statistics, the vital instruments with which the vigor and muscle of the American economy are measured.

The effect has been to create a false sense of economic achievement and rectitude, allowing us to maintain artificially low interest rates, massive government borrowing, and a dangerous reliance on mortgage and financial debt even as real economic growth has been slower than claimed.


Not only do governments, businesses and individuals use these yardsticks in their decisionmaking, but minor revisions in the data can mean major changes in household circumstances — inflation measurements help determine interest rates, federal interest payments on the national debt, and cost-of-living increases for wages, pensions and Social Security benefits.

So what the government is actually doing is cheating people out of increases in salaries and SS benefits. In another part of the article, the author says SS benefits -- if calculated by real, not the twisted inflation figures -- should be 70% higher than they are today.

posted on May, 9 2008 @ 04:48 PM
Hey, its all cooking the books! We have not had any real money since 1933. FRNs are notes of DEBT. Every time we use one, we increase the National DEBT.

All the FED has to do is balance the books, change numbers from the + to the - side and poof, we have balance. They will not do that, because the real reason for debt is to control and enslave the People.

The major reason the dollar is in real trouble is because other countries are becoming the better producers, ie, their Citizen-slaves have a better world credit rating then American citizen-slaves do. Since labor and output are how world markets "rate" the value of a countries currency is "worth" the dollar is falling and failing. American citizen-slave labor (real currency) is now sub-prime and nearing junk bond status, our birth certificate bonds just are not worth as much. It really is that simple.

We just are not performing as well as other citizen-slaves, and like they say, you get what you pay for!!


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