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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: SofaSpud who wrote (3515)2/4/2003 4:33:55 PM
From: Raymond Duray  Read Replies (1) of 3536
 
SS,

Re: While the economy certainly isn't going gangbusters, an unemployment rate of what, 6%, isn't the end of the world. That could be interpreted as fairly deft........

disinformation is the word I believe you were reaching for.

The way to achieve a figure of 6% unemployment is to ruthlessly exclude under-employment among the self employed, figures on "discouraged" workers, or on workers whose unemployment has exceeded the limits of unemployment compensation schemes. By hiding these and more people, the true extent of unemployment and underemployment is masked from and by the media.

Another famous lie of the Greenspan oeuvre is "hedonics" as it relates to productivity. This is an astonishing bit of devious doublethink that easily shows declining ARPUs of information age technologies to conveniently be interpreted as productivity gains. Great for statistics that are meant to be lies. But hardly the stuff upon which to rely as fact.

-Ray
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