I knew it was too good to be true
Nov 24, 2009
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Once again the government figures scammed the public. They had told us that the GDP (gross domestic product) had gone up by 3.5% in the third quarter ending in September, and they all loudly proclaimed the end of the recession was at hand. Now we are told, after the fact, that it was really on 2.8%. That's not just one or two tenths of a percentage. That's SEVEN TENTHS of a percent, which is absolutely huge. There is no way to overestimate by this much unless someone was deliberately lying or engaging in over-the-rainbow wishful thinking.
They do this in order to instill "confidence," whether such confidence is based upon truth or not. They figure that confidence in the economy will "make it happen" by opening up people's wallets, causing them to spend more, thus raising the GDP by stealth.
When was the last time they underestimated good news, or overestimated bad news? If they need to resort to lies and subterfuge, you know that THEY themselves lack the confidence that they are trying to foist upon us.
When those optimistic figures came out a month ago, I knew it was too good to be true.
Dr. Stephen Jones