Lies and more lies
The Government “Revises” 84 Years Of Economic History This Week
(Zero Hedge) Don’t like how high debt-to-GDP figures are? Revise ’em. Unhappy at the post-‘recovery’ growth rates? Revise ’em. Disappointed at the pace of economic improvement in the last decade or two compared to the rest of the world? Revise ’em. This week “we are essentially rewriting economic history” as the BEA is set to revise GDP data from as far back as 1929. The ‘adjustments’ to account for intangibles (that best known of micro- accounting fudge factors) and as we noted previously in great detail, will increase GDP by around $500 billion. Of course, these changes are defended aggressively (just as the hedonic adjustments to inflation calculations ‘make perfect sense’) as GDP will now reflect spending on research, development, and copyrights as investment – and reflect pension deficits for the first time (think of all that potential future GDP from massive pension deficits now). With Q2 GDP growth estimates set for a dismal 1.1%, expectations are for the short-term economic data to be revised upwards (and with any luck the great recession never happened at all).
Mama’s Note: Just in case you had any lingering trust in government studies, reports, or functions…
Nathan: The growing incompetence of government at ANY level is frighteningly obvious. They seem to have gotten so arrogant that the various managers and administrators and politicians think that people will believe anything. L. Frank Baum had it right, with his portrayal of the “Wizard” – or should we say “Forecast” instead? The next story shows that even with the tinkering with history and facts, they STILL identify this period as an economic disaster.
The “messiah” – Crash of 2009
1%: Average Annual Economic Growth Under Obama
Nathan: So? The “messiah” and anyone else sitting in the White House cannot make the economy GOOD, they can only make it BAD. Especially when that seems to be the goal: to push us into crisis, to make more and more people dependent on the government for everything, to destroy families and communities and businesses. I am sure that the Tranzis are as disappointed in this as conservatives are, because the Tranzis would hope (as in Europe) for a decline in the economy. And seriously, I cannot and do not believe this number in any way: the economy has contracted nationally, over the past four-plus years in this “recession” and the administration and government agencies have made up and changed and twisted numbers to try and pretend otherwise. With VERY few exceptions (like North Dakota), things are MUCH worse off than five years ago. And it is this administration and the FedGov that deserves blame, immediately followed by the PREVIOUS administration.
Mama’s Note: What most people seem to ignore or fail to see is that no measure of “growth” is necessarily an indication of HEALTH for either a living being or an economy. Cancers GROW, and grow fast, but that does not mean the body is healthy. Government theft, coercion, regulation and control are all serious and obvious signals that the body of our society is suffering from a terrible cancer, and that the condition will be terminal if there is no radical surgery soon.
Stupid politicians – World wide
Japanese Finance Minister angers more people
(The Diplomat) Taro Aso has done it again. This time, the terminally gaffe-prone deputy prime minister has invoked the ire of a New York City-based Jewish human rights group, the Simon Wiesenthal Center, after suggesting that Japan could learn a thing or two from Nazi Germany when it comes constitutional reform. “First, mass media started to make noises about Japan’s proposed reforms, and then China and South Korea followed suit,” Aso said in a speech at a right-leaning think tank on Monday. “The German Weimar Constitution changed, without being noticed, to the Nazi German constitution. Why don’t we learn from their tactics?”
Nathan: This is like what he said several months ago, as far as outraging people:
“Heaven forbid if you are forced to live on when you want to die. I would wake up feeling increasingly bad knowing that [treatment] was all being paid for by the government,” finance minister Taro Aso said during a meeting of the national council on social security reforms. “The problem won’t be solved unless you let them hurry up and die.” (Emphasis added.)
Aso’s remarks constitute a classic gaffe, defined by journalist Michael Kinsley as a mistake that occurs “when a politician tells the truth — some obvious truth he isn’t supposed to say.” (As befits such a gaffe, Aso was forced to backtrack; outright lying, on the other hand, seldom gets a politician into serious trouble.)
Nathan: Truth accidentally told by a politician, or just callousness?
Mama’s Note: This is an incredibly incoherent statement, unfortunately all too typical of our supposedly highly educated masters. But if I understand what he’s saying, it is the classic error that comes when people believe that if the government doesn’t build the roads, nobody will – or worse, that nobody CAN build them. Same with things like “the poor,” and “national defense,” of course.
Politicians telling the “truth” accidentally? I don’t know about that. They’d have to recognize and understand what was true in order to do that. So far, I’ve seen little sign of that. Oh, and I wasn’t aware that Vice Pres. Biden had a Japanese brother…
Government Fiddles, Our Nation’s Forests Burn
(TownHall.com) Over the past two decades, timber harvests in the 155 national forests have plunged 80 percent from 12 billion board feet per year in the 1980s to less than 2.4 billion board feet per year, says H. Sterling Burnett, a senior fellow with the National Center for Policy Analysis…
Nathan: The destruction of the nation in a simple and easy-to-understand examination of just a small part. Timber and lumber come now from Canada and Latin America, because government regulations and the cost of doing business in the US drove domestic producers out of business. Even in the Black Hills, there are fewer trees cut and fewer and fewer sawmills – from 1990, I’ve seen the industry all but vanish. It is very difficult for small businesses to get going, and meanwhile, every year, more and more trees burn and are lost completely, except as more air pollution and more damaged areas of our economy.