The Government reported its “advance” estimate of first quarter 2017 GDP today. The data-monkeys at the Bureau of Economic Analysis (BEA) reported that the economy grew at just 0.7%
Next to the monthly employment report, the GDP report is subjected to the highest degree of statistical manipulation in order to make the reported reality look better than reality itself. If the Government was willing to release a report showing a 67% decline in economic growth from Q4 2016 to Q1 2017, imagine how bad the real numbers would show the economy to be.
The report itself, like the employment report, serves no purpose other than as tool for political goal-seeking and propaganda. The consumer spending component of the report fell
Worse, the various Government agencies are reporting inconsistent numbers. The Census Bureau’s monthly retail sales report showed a
The problem with the phony economic reports is that eventually the public begins to see and feel the truth.
When someone who is working two menial part-time jobs to make ends meet and reads that 200k jobs were allegedly created in a given month, that person knows and feels the truth. That person also begins to get angry. In fact, the general level of anger across the U.S.
If the economy were producing real growth in employment and wealth, as purported by the Government, not many people would care which person or political party occupies the White House. In fact, the party in power would get credit. But the growing political discord among the population is a reflection of a middle and lower class that is rapidly transitioning to lower and poverty class – and they are getting pissed. The stock market bubble, which is another form of propaganda, is only serving to intensify the anger.
- Source, SD Bullion