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The public should keep a suspicious eye on every stat published; only that way, we would notice the Libor scandal, 2008 mortgage related valuations, or a lot of
by diminish 14y ago
The public should keep a suspicious eye on every stat published; only that way, we would notice the Libor scandal, 2008 mortgage related valuations, or a lot of countries from Argentina to Turkey playing with their major economic stat reporting such as inflation, GDP, foreign trade etc.
- reitzensteinm 14y agoIn the US, the government just openly changes the methodology, which is forgotten shortly after. Seems to work just as well as falsifying the stats, with none of the risk. http://en.wikipedia.org/wiki/Shadowstats.com http://en.wikipedia.org/wiki/Shadowstats.com I'm not recommending Shadow Stats specifically - I have no idea how accurate or biased they are. But there's a clear need for this information in order to do any kind of historical comparisons of things as basic as inflation and unemployment numbers.