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Politics : Ask Michael Burke

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To: Don Lloyd who wrote (84881)	11/5/2000 11:17:54 AM
From: Mike M2	Read Replies (1) of 132070

Don, my comment is ho ho ho. The important point regarding the use of the hedonic deflator in calculating chain weighted GDP is that the resulting differential over real or nominal GDP does not result in income creation for anyone. The glorious high tech companies report their results in real dollars not chain weighted dollars. Perhaps as the profit picture continues to deteriorate they will lobby FASB to allow the reporting of financial results in chain weighed dollars. In addition, no other major industrial nation uses hedonic pricing ( although I heard Japan is considering implementing this hoax -g-). The American press and financial community loves to boast about America's superior rates of growth and productivity but convieniently ignore that much of the differential is statistical in nature. The English gov't and the Bundesbank have recently discussed this issue. Like you care names -g- Mike

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