The US is Rigging Statistics Like the Soviet Union
from Grams Gold In an interview on 5/26/15 with Jason Burack of Wall Street for Main Street, Jason says, “If you go back and look at what the Soviet Union did with their economic data and statistics, they would routinely release the propaganda data saying that the ‘standard of living in the Soviet Union was higher than the average US citizen.’ I actually read this book about Google called “In the Black” and they talked about Sergey Brin , the co-founder of Google, and his father was a Soviet era economist. He was tasked in the Soviet Union with constantly changing all the formulas to lie about the real inflation rate in the Soviet Union.
They would routinely release the propaganda data saying that the ‘standard of living in the Soviet Union was higher than the average US citizen.’ There were over 100,000 oil jobs were cut, an the numbers didn’t even reflect that! The Chapwood CPI, which follows the prices of 600 items, concluded there was a CPI inflation index of 10%.
Willie: They can do a number of things. There has been criticisms lately about the seasonal adjustments. What they’ve doen in the last 2 months is do twice over the seasonal adjustment to lift it up. The other thing they do that is mocking the data, ‘It only takes seventh grade arithmetic to debunk their shit. We have 22% unemployment in the US when you happen to count those who don’t have a job! Jason: There was over 100,000 oil jobs were cut, an the numbers didn’t even reflect that! A lot of the numbers are bogus across the board. Willie: If you want to get a good indicator of the oil industry job report, look at the Dallas Fed. It was horrendous. They just announced that there are 6,000 retail stores closing down this year. The Chapwood CPI, which follows the prices of 600 items, concluded there was a CPI inflation index of 10%. US society will not react badly until stocks are down hard and bank accounts are showing “missing holes”. There’s a wealth effect for the American public who sees their 401Ks and stock mutual funds are all going up. What they should do is sell them because the Fed and the Wall Street firms are the main buyers.I’m convinced that the Fed and Wall Street own 50% of the S and P 500 stocks. QE to Infinity The Velocity of Money is down 50% since Lehman Brothers. This is a grotesque failure of monetary policy. Let’s call it what it is: QE is a backdoor Wall Street bail out. Alan Greenspan said that as a policy , QE cannot stand as a policy for over 6-9 months because it causes a lot of problems. He didn’t go into detail. It kills capital, at the same time they cannot raise prices prices because of the Chinese imports being lower in price. So you have QE into infinity. You remember the ‘taper talk’ in the summer of 2013. It was a trial balloon that failed. Continue Reading>>>