i smell panic in the air, page-33

slikk,

As the government measures it:-

Real GDP = Nominal GDP - Inflation (CPI)

Nominal GDP is relatively hard to fiddle. However, with the advent of hedonic adjustments, substitution effects and varying component weightings, you can virtually make CPI say anything you want.

The US Government wants us to believe that US inflation ran at a meager 0.8% in the last quarter. What a load off bollocks!

Have a look at what inflation and real GDP would be, if the US Government still used the old CPI methodology employed before the late 1980's:-

http://www.shadowstats.com/cgi-bin/sgs/data