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More Fuzzy Numbers – GDP Wildly Overstated

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By Chris Martenson
Friday, January 22nd, 2010

More Fuzzy Numbers – GDP Wildly Overstated

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By Chris Martenson on
Friday, January 22nd, 2010
48

If you’ve watched Chapter 16 of the Crash Course (Fuzzy Numbers), you know that I am especially dismissive of the way in which the BEA calculates the US GDP figures. All manner of statistical tricks, many of which would land private business accountants in jail, are used to create an overly optimistic view of the GDP. Recently the US GDP was reported as being +2.2% for the 3Q09, and many are calling for 4Q09 to come in at around +3%. This means that when we add these to the -6.4% 1Q09 and -0.7% 2Q09 results and average everything together, the

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