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Politics : Ask Michael Burke

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To: BGR who wrote (71311)	12/3/1999 8:49:00 AM
From: Earlie	Read Replies (3) of 132070

BGR: Required reading for those who envision a consequential contribution to GDP growth from the tech sector includes Dr. Richebacher's excellent analysis of the current (very bogus) GDP numbers. I commend in particular his analysis of the remarkable "contribution" PC sales provide to the fiction (roughly half the supposed annual growth), in spite of a minuscule year-over-year growth of actual PC sales revenues. Can we say "chained dollars" (g) Subtract the supposed growth attributed to PC "chained dollar" sales, and the reported 4% GDP growth (an economy on a roll) is closer to 2% (an economy in recession). Love those government boys for doing their part to keep the party in gear. As an aside, I think this little bit of statistical chicanery will go down in history as one of the very best. Mark Twain sure had it right. (g) Best, Earlie

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