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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: No Mo Mo who wrote (5484)7/24/2000 9:07:53 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
it is in the government's interest of course. first of all, many of the entitlements are tied to inflation rates (so-called COLA, cost-of-living adjustments) and secondly, all of these stats make the govt. look good, no?

it is also a necessity for the ponzi scheme on WS to keep pretending that things are what they are not.

i agree that in some ways quality enhancements should be accounted for - i don't agree with how it's done in practice.

i recommend reading the following reports on productivity:

grantspub.com

faculty-web.at.northwestern.edu

they explain in some detail how specifically computer hardware is used to distort the data.

as for gold, there is in fact no guarantee it will be a good vehicle. however, it is the only form of money that is not someone else's obligation, and as such may well return to favor when the accumulated debt of the upswing implodes.
note, gold is primarily inversely correlated with the US dollar. it is generally sought after in either very strong inflationary periods, or during outright deflation.
there is of course a drive to discredit it as a store of value, and CB's around the world are trying to demonetize it. they hate nothing more than anything that could inhibit their printing habits...
therefore there are no guarantees how long it will be before the gold bear market ends. but it is heavily shorted via the carry trade, and pure fiat systems throughout history have failed in the end, prompting a return to specie backing of some form every time.
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