Looks like we're going to get some more cooked books come July. [View all]

[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.