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|John Williams from ShadowStats.com Interview: This is End of the World Type Stuff|
His research is where you go if you want the truth about the U.S. government economic data. One of John’s early clients was a large manufacturer of commercial airplanes, who had developed an econometric model for predicting revenue passenger miles. The level of revenue passenger miles was their primary sales forecasting tools, and the model was heavily dependent on the GNP (now GDP) as reported by the Department of Commerce. Of course as the government continued to change the methods of calculating this information in order to always make things look better for whoever was in the white house, the model his client had been using became worthless as the government information became worthless. So, John fixed it. He began the lengthy process of using realistic methodologies to calculate GDP, unemployment, and our inflation rate.
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