Looks like we're going to get some more cooked books come July.

[MadHound]

"In July of 2013, the U.S. gross domestic product will officially grow three percent, due to a few additions to the statistics that economists have been using to calculate GDP for years.

From now on, government statisticians will take into account money earned from creative works including movies, television shows, books, theater and music. Money spent on research and development, which has, until now, been considered a cost of doing business will also be included."
http://www.marketplace.org/topics/economy/us-economy-grow-3-under-new-gdp-calculation

More of the same ol' same ol'. Reagan cooked the unemployment books, as have several other presidents. Now we're going to get the GDP books cooked as well. I suppose to find out what the real GDP is in July, just subtract three percent from whatever figure they throw out there.

Funny timing on all of this, what with the effects of austerity starting to take hold. I guess they simply don't want us to know how bad it truly is.

[Newest Reality]

1. Pump up the volume!

The song rocks! Play it again.

[Fumesucker]

2. I got those Millionaire Blues

[woo me with science]

3. K&R And the chocolate ration is increasing, too! nt

[ProSense]

4. Are you saying

"More of the same ol' same ol'. Reagan cooked the unemployment books, as have several other presidents. Now we're going to get the GDP books cooked as well. "

...the 1990s never happened? That it was all a lie?

Is this pre-emptive outrage at potential good news?

[Fuddnik]

6. Read "Bad Money" by Kevin Phillips.

You'll find that EVERY President since Ike has cooked the books to make themselves, GDP, unemployment, and the economy look better.
Here's an excerpt from Harpers, reprinted in the St. Pete Times.

http://www.tampabay.com/news/hard-numbers-the-economy-is-worse-than-you-know/473596

Hard numbers: The economy is worse than you know

Kevin Phillips, Harper's Magazine

Saturday, April 26, 2008 4:30am


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.

The corruption has tainted the very measures that most shape public perception of the economy:

• The monthly Consumer Price Index (CPI), which serves as the chief bellwether of inflation;

• The quarterly Gross Domestic Product (GDP), which tracks the U.S. economy's overall growth;

• The monthly unemployment figure, which for the general public is perhaps the most vivid indicator of economic health or infirmity.

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.

(snip)

[SidDithers]

5. Speculative outrage is the best outrage...nt

Sid

[woo me with science]

7. K&R