phantom GDP due to offshoring

Discussion in 'Current Events' started by Truthmatters, Jun 10, 2007.

  1. Truthmatters
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    http://tinyurl.com/3brj6g

    Very interesting article about how the Admin has been mismeasuring GDP by not taking into account the effects of offshoring.

    Its a bit long but I sugest you read it all to understand fully.
     
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    But the new numbers also require a reassessment of productivity and wages that could add fire to the national debate over the true performance of the economy in President Bush's second term. The official statistics show that productivity, or output per hour, grew at a 1.8% rate over the past three years. But taking the phantom GDP effect into account, the actual rate of productivity growth might be closer to 1.6%--about what it was in the 1980s.
     
  3. Toro
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    That's very interesting.

    But its not "the administration" measuring the GDP. This is a problem of statistical methodology.
     
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    by whom?
     
  5. Toro
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    The Bureau of Economic Analysis is a government agency independent from the administration.

    It is not under political control.
     
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  8. Truthmatters
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    there seems to be some key vacancies ad I cant find out how thy fill them or why they havent filled them.

    They have not had a commissioner for a while I think.

    Maybe someone is starving them.

    The do appear to be independent but the DOJ was at one time also.

    I get shit all the time when I quote things from the GOA or the CBO which are just as independent when people dont like the results.
     
  9. Toro
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    Nonpolitical people tend to view the GAO and the CBO as generally independent and credible. The market and academics do so, as do I.
     
  10. RetiredGySgt
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    Explain again how POLITICAL appointments are Independent?
     

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