Economy: Fed Manipulating Statistics (again)

Friday's Industrial Production "increase" of 0.2% is another example of the Federal Reserve manipulating statistics to make currently published figures appear "good" or "improved." From the Fed's own publication of Industrial Production figures taken from 10/30/06, the "Gross Value of Final Products and Nonindustrial Supplies" has been downwardly revised for every single time period shown. Every quarterly report has been revised downward. August and September's numbers have been downwardly revised. Even the total for 2005 has been downwardly revised by $36 billion, from the previously reported $2.990 trillion down to $2.954 trillion. (This would subtract approximately 0.1% from 2005's reported GDP.)

Even using only the current numbers, there has been a $15 billion net decline in Industrial Production since August. However, using the previously published number for August of $3.1301 trillion, there has been a decline of $64.4 billion to November's $3.0657 trillion. This is a decline in the annual rate of over 2% in 3 months.

(Below is a modified copy of both the Federal Reserves report from 12/15/06 on Industrial Production on the top with a copy of the Fed's report from 10-30-06 on the bottom. The changed numbers are underlined in red.)



(Friday's Fed Release can be found at Industrial Production)

Are these signs of an economy that is "strong, and getting stronger"? At best, much of this so-called "growth" has been a result of statistical manipulation, especially through the downward revision of previously published numbers.

unlawflcombatnt

Economic Populist Forum

EconomicPopulistCommentary

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The economy needs balance between the "means of production" & "means of consumption."

I'm afraid the whole thing is going to crash is what it's going to do.
All of these things they do like this are short-term, and won't last.
They know this I'm sure, but it is getting rediculous.
I can't even watch the economy talking-heads on tv anymore.
It's like a very, very, bad joke.

I don't even know what think about these damn numbers anymore, I just wait for whatever they say, see the reaction and hopefully get in the markets in time to capitalize on whatever direction it is going.

The problem and where the whole confusion lies with me is the constant "revisions" they revise one month, causing one month to be good, then the following month they revise that number and so and so forth. I don't even know if i can follow the number game anymore.

why are they constantly revising numbers, why the hell can't they get it right the first time??? obviously they're trying to hide something or the whole system is more incompetent than anyone thinks.

The US will be one of the biggest winners out of the impending World Wide Economic collapse as far i can see, most the US owed debt is owned by foreign countries and denominated in USD, so when the USD crash comes, the US debt of worthless USDs will be exactly that, worthless !!