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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Investor2 who wrote (10308)12/7/1999 12:45:00 PM
From: Wally Mastroly  Read Replies (1) of 15132
 
Re: "..How can we trust their data?..." - because Dr. Greenshades says no politics involved <g> (I know, he said non-political, that doesn't necessarily mean accurate).

10:22 GREENSPAN: ECONOMY BENEFITS FROM NON-POLITICAL NATURE OF GOVERNMENT STATISTICS

Besides, would any government agency lie to the American people <BG>

-

On a more serious note (not to make excuses for revisions to government statistics):

>..Productivity is the key to economic growth. It's the only way the pie can get bigger. If firms can be more productive, both workers and owners can make more money without raising prices for customers. Heightened productivity drives down prices and keeps a lid on inflationary pressures.

However, productivity is very hard to measure, especially in the services where the concept of a "unit" of output is elusive...<

cbs.marketwatch.com
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