Wednesday, August 13, 2008

Video on how and why inflation numbers are messed with

Fuzzy Numbers

15 min video on how inflation is fiddled, definitely worth a look. The same 3 techniques used to suppress inflation numbers are used to boost GDP numbers. Why do governments go to all this trouble? It's called "anchoring". Anchoring refers to peoples expectations of inflation. So the tricks and lies are all meant to convince us that everything is ok and keep us acting like good consumers.

Posted by mountain goat @ 09:44 AM (1009 views)
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10 thoughts on “Video on how and why inflation numbers are messed with

  • mountain goat says:

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  • mountain goat,

    For those of us who are at work, any chance of a summary or a transcript?

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  • I think that picture above is summary enough

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  • Drewster – there’s a fair bit of info packed into 15 mins. Worth waiting until you get a chance to watch it.

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  • The Crash Course is v. interesting, when you’ve got time.

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  • For all those who wonder why life is so expensive and get told the opposite (That’s just about everyone then!) This is a must and will explain your intrinsic distrust of offical stat’s with good reason.

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  • Well worth watching! Does anyone know if we use ‘hedonics’ in the UK to make figures up with? Truly another unbelievable artful form of lying to the public to serve our Masters’ agendas.
    And if you use the real figures that indicate the US has been in recession for some time now, you can bet that the UK also uses these deceptive methods and that we have been in recession for some time also – jeez, what a surprise.

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  • Excellent find Mountain Goat, a real eye opener. Thank you for sharing.

    I never understood what GDP was until this guy explained it. The ‘Bubble’ video is very good too. I plan to spend the rest of this evening running through all the vids, but based on the two I’ve watched, I would recommend they be pinned to the HPC Homepage.

    Thanks again MG.

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  • Great post MG. I’m suprised there are so few comments. Every poster should take a look at these vids.

    Should definately be pinned.

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