“If the errors are really what you say, then we really have no idea what’s going on.”
– Joel Naroff, president, Naroff Economic Advisors
But my Econ teacher said this is how the world works?
Economist-types totally discount personal experience as gauge of economy but happily use fantasy hedonic, birth/death & seasonal adjustments.
CNBC should do more of this kind of stuff and less “Filthy Rich”. #GDP
Spreadsheets are bibles for economists. Verses are column and row cells, which like religious texts, are based on myths.