[Marxism] Economists Seek to Fix a Defect in Data That Overstates the Nation’s Vigor (NYT)

S. Artesian sartesian at earthlink.net
Tue Nov 10 08:11:12 MST 2009


Can we get off this merry-go-round?  Every time the spot price of oil 
doubles, the same old same old record gets played-- peak oil, shortages just 
around the corner, the US is applying pressure to the IEA according to 
unnamed sources.

You think this might have anything to do with the fact that IEA has just 
lowered its estimates for consumption of oil over the next decade, the 
run-up in oil prices is part of another asset-bubble,  and traders want to 
keep the prices up based on the "bigger fool" theory of capitalist 
reproduction?

You think?

----- Original Message ----- 
From: "Marv Gandall" <marvgandall at videotron.ca>
To: "David Schanoes" <sartesian at earthlink.net>
Sent: Tuesday, November 10, 2009 8:02 AM
Subject: [Marxism] Re: Economists Seek to Fix a Defect in Data That 
Overstates the Nation’s Vigor (NYT)


Matt Russo posted:

http://www.nytimes.com/2009/11/09/business/economy/09econ.html?ref=business

 A widening gap between data and reality is distorting the government’s
picture of the country’s economic health, overstating growth and
productivity in ways that could affect the political debate on issues like
trade, wages and job creation.
=================
Maybe also oil...

Key oil figures were distorted by US pressure, says whistleblower
By Terry Macalister
Guardian
Monday 9 November 2009






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