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Politics : Ask Michael Burke

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To: Dennis O'Bell who wrote (85623)	11/17/2000 9:09:59 AM
From: Mike M2	Read Replies (2) of 132070

Dennis, the problem with hedonic indexing used in calculating chain weighted GDP is that there is no economic relevance. These dollars exist only in the minds of bureaucrats who want to please their political bosses. When you purchase a PC from Dell you use (real) nominal dollars not chain weighted dollars and that is what Dell reports. Chain weighted dollars do not create income or expense for anyone. IMO hedonics were fabricated to deceive the investing public about the source of strength of the economy and overstate productivity. Mike

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