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March 24, 2008

Comments

BelowTheCrowd

Cody,

What Ben Stein misses (as do so many others) is the same point you've made over and over in this space. Government statistics are lies. Who do you trust more, the hundreds of CEO's and business owners saying that we're in a recession, or a bunch of government statisticians at the BEA? Ben Stein has chosen to believe the statisticians. It's clear that even the Fed and the Treasury have chosen to listen to other voices.

As with any other group of people, you need to watch what they do if you want the truth, and ignore what they say.

"Official" GDP is determined by the same corrupt government statisticians who determine the CPI. It's hedonically adjusted in the same ways, and often in even worse ones. To a large degree, GDP has been a political football since the Johnson administration. John Williams details the issues with GDP here: http://www.shadowstats.com/article/57

So, the question is not why we are engaging in a "pre-emptive strike" against a non-existent recession. Instead, the question should be what they're seeing that the "official" statistics are masking?

-btc

SD

Ben Stein has been on Fox Business channel before as he reveals in this weird article he penned about the network for "Best Life" magazine-- http://www.bestlifeonline.com/cms/publish/finance/Invasion_of_the_Money_Honeys.shtml

SD

Funny comment about intervention that BBH currency strategist Marc Chandler wrote recently:

"...Previously many critics depicted intervention as a transfer of wealth from central bank to speculators..."

http://www.realclearmarkets.com/Why%20Intervention%20Remains%20Unlikely%20031408.pdf

Jason from the 'hood

Ben Stein would be a great guy to have on the show, Cody, if you haven't already.

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Cody_1a

  • CODY WILLARD
    THE BIG APPLE, NEW YORK
  • Cody Willard is the general manager of CL Willard Capital. Find him at TheStreet.com, the Financial Times, on TV, or even playing that rock n' roll.

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