Friday, November 18, 2011
John Williams - GDP is a nonsense Number
John Williams of the shadow stats on the Financial Sense NewsHour Nov/15/2011 : Third Quarter GDP Numbers Have No Relation to Reality , John believes unemployment hasn’t really recovered from the 2001 Recession.GDP is a nonsense Number , it is a worthless number in terms of having any meaning in terms of the economy heavily politicized very heavily modeled , they use extremly low rates of inflation , that number could easily be negative as wel as positive John Williams of shadow stats says
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John is bang on. GDP and its siblings explain why we are in a heap of trouble as economics continues to deny the constructs of science and objective mathematics. The drum beats of abstraction create a destiny marching towards a fate of doom.
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