Slipping Into a New Recession?

| June 26, 2014


by Paul Craig Roberts | CounterPunch | Click HERE to read article The negative growth rate of -2.9 percent is itself an understatement. This number was achieved by deflating nominal GDP with an understated measure of inflation. During the Clinton regime, the Boskin Commission rigged the inflation measure in order to cheat Social Security recipients out of their cost-of-living adjustments. Anyone who purchases food, fuel, or anything knows that inflation is much higher than the officially reported number.


by Paul Craig Roberts | CounterPunch | Click HERE to read article

The negative growth rate of -2.9 percent is itself an understatement.  This number was achieved by deflating nominal GDP with an understated measure of inflation. During the Clinton regime, the Boskin Commission rigged the inflation measure in order to cheat Social Security recipients out of their cost-of-living adjustments. Anyone who purchases food, fuel, or anything knows that inflation is much higher than the officially reported number.

It is possible that the drop in first quarter real GDP is three times the official number.

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