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Silver Wheaton Corp. Message Board

  • moses_on_wall_street moses_on_wall_street Jul 18, 2013 12:32 PM Flag

    Pulling Back the Curtain on Phony Government Statistics

    Excerpted from an article on Casey Research:

    Our guest contributor today needs no introduction, but I'll give him one anyway. John Williams, founder of Shadow Government Statistics (often referred to as "ShadowStats"), has been debunking federal government statistics for years. John adjusts government economic data to be more honest and realistic, and publishes the results on his website. Among other statistics, John has developed his own inflation, unemployment, and GDP measurements that aim to more accurately describe reality than the government's own numbers.

    In some cases, the government has made his job easy—John simply uses the government's own calculations from many years ago, before they were massaged, revised, and "improved" to the point that they're hardly recognizable. For others, he strips out distortions and adjusts the statistics to more truthfully describe the real world. For instance, I'd bet that your grocery bill would agree that ShadowStats' inflation rate of 9% is much closer to reality than the government's own calculation of 1.4%.

    To whet your appetite, I grabbed two more of the more stunning stats from John's piece below:

    The government reports its 2012 deficit as $1.1 trillion. If you calculate the deficit using generally accepted accounting principles, as publicly traded companies in the US are required to, the deficit would be $6.6 trillion.

    So far in 2013, the Federal Reserve purchased 90.5% of the US government's net issuance of debt.

    There's more and some links, too. If you want to better understand the fraud that is Bizarro World.

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