My guess is that the employees of the Bureau of Economic Analysis are lazy weasels.
2022 is the year that we started to ‘come out of’ the pandemic shutdown. Whole downtowns began to revive, people shut in their homes warily began to venture out to do things again. Because of the historic uniqueness of the multi-year shutdown, a huge percentage of the statistics gathered and generated by these government employees would need to be ‘corrected’ for historic abnormalities. But how, exactly? An excellent mind such as yours, Mr. Kust, would have figured out fairly accurate statistical corrections, but the bureaucrats- faced with a task they’ve never encountered- probably could not agree on the particulars of how and what to correct, so they didn’t, at least not in meaningful ways. An employee of a government bureaucracy is not likely to rock the boat by proposing daring new corrections. The result is that their statistics are probably off even more than usual.
Coming out of a huge economic shutdown, there should have been such pent-up demand that we would have had robust growth. We didn’t, and your analysis shows that growth was even weaker than officially indicated. I agree, we’re in a recession, not two-plus percentage annual growth. Thank you again, Mr. Kust, for giving us meaningful analysis!
Mr. Kust - thank you for another substantive work of original thought. Yours is a daily must read - have you thought out the fate of the dollar as the reserve currency to the world and whether it is net net good for us regular USA cutizens? The "hype media" seems to claim sky is falling is that true?
Know this is a complicated topic but I'm guessing you have serious thoughts on it already?
My guess is that the employees of the Bureau of Economic Analysis are lazy weasels.
2022 is the year that we started to ‘come out of’ the pandemic shutdown. Whole downtowns began to revive, people shut in their homes warily began to venture out to do things again. Because of the historic uniqueness of the multi-year shutdown, a huge percentage of the statistics gathered and generated by these government employees would need to be ‘corrected’ for historic abnormalities. But how, exactly? An excellent mind such as yours, Mr. Kust, would have figured out fairly accurate statistical corrections, but the bureaucrats- faced with a task they’ve never encountered- probably could not agree on the particulars of how and what to correct, so they didn’t, at least not in meaningful ways. An employee of a government bureaucracy is not likely to rock the boat by proposing daring new corrections. The result is that their statistics are probably off even more than usual.
Coming out of a huge economic shutdown, there should have been such pent-up demand that we would have had robust growth. We didn’t, and your analysis shows that growth was even weaker than officially indicated. I agree, we’re in a recession, not two-plus percentage annual growth. Thank you again, Mr. Kust, for giving us meaningful analysis!
Mr. Kust - thank you for another substantive work of original thought. Yours is a daily must read - have you thought out the fate of the dollar as the reserve currency to the world and whether it is net net good for us regular USA cutizens? The "hype media" seems to claim sky is falling is that true?
Know this is a complicated topic but I'm guessing you have serious thoughts on it already?
Thanks in advance.
DT