Economic Growth: False Numbers!

Posted by Gordon Long

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This 31 Minute video below is Part I of a three part series on the current misinformation of Economc Growth between Gordon T Long ( and Ty Andros ( with 26 supporting slides.

Highlights of the discussion include:

    Why the presently accepted GDP measurement is ineffective in properly measuring wealth creation, national economic health and prosperity,

    How the elements of Government Spending, Taxation, Stock Market changes, Export & Import trade balances and other statistical indicators are all  being used to manage the perceptions of economic growth,

    How Hedonics, Substitution and Imputation make GDP greater than it really is,

    How the new game of “Imputation” is using notional numbers to represent growth with no money actually changing hands,

    How bad data leads to bad decisions and too many bad decisions leads to fewer decision choices until the only choice is to lie,

    How the current US growth rate is minimally overstated by 20%, even if you accept the illogical 1.54% Deflator for the US and the IMF’s 2.2% Global Deflator.

To Watch the Video CLICK HERE