alt Hacker NewsThe phrase "when US data becomes unreliable" is misleading in one sense: for many years political manipulation of economic data has screwed things up.
Calculation of unemployment and real debt has seldom matched the norms of most other western countries. Add military (often black budgets) spending without much oversight or accurate accounting.
The wealthiest people in the USA are now in the mode of grabbing what they can while the 'grabbing is still good.' Without this immoral looting, our government could do a better job of protecting US citizens as our empire collapses.
Replies
> Calculation of unemployment […]
Define "unemployment". There are six (U-1 to -6) ways of classification in the US:
* https://www.bls.gov/lau/stalt.htm
* https://www.investopedia.com/articles/investing/080415/true-...
* https://www.investopedia.com/terms/u/unemployment.asp
And the fact that they're different between the US and other countries, and between other countries and other-other countries is well recognized; "International unemployment rates: how comparable are they?":
* https://www.bls.gov/opub/mlr/2000/06/art1full.pdf
And this isn't something new; from 1957, "International Comparison of Unemployment Rates":
* https://www.nber.org/books-and-chapters/measurement-and-beha...
Just because they're different does not mean that they are "misleading" or 'manipulated'.
> The wealthiest people in the USA are now in the mode of grabbing what they can while the 'grabbing is still good.'
How is this new? Is greed something discovered recently and especially in the US?
* https://en.wikipedia.org/wiki/Friedman_doctrine
* https://en.wikipedia.org/wiki/Gilded_Age
Even stacking government with loyalist appointees is, to a certain extent, returning to 'the old ways' before reforms were enacted to clamp down on the practice:
* https://en.wikipedia.org/wiki/Civil_service_reform_in_the_Un...
>Calculation of unemployment and real debt has seldom matched the norms of most other western countries
Source? For unemployment, isn't the U-3 definition used for "headline unemployment" consistent to most other countries?
The frustrating thing about the empire collapse is that it doesn't need to happen. There are still tons of highly energized and ostensibly disciplined and competitive people here. It's just that the production base was sold off to foreign lands and the aesthetic and moral project of "America" was effectively discontinued, for reasons unclear.
> for many years political manipulation of economic data has screwed things up
This is a myth. But a self-fulfilling one, given we’re cutting budgets to those agencies because so many Americans believe it.
I think the real issue now is that it's 10x worse. The people controlling things are actively and shamelessly making things worse, for their own purposes (so there is less accountability, IMO). The problem is the new, unintended side effects of what they are doing. Because they aren't really that smart, they don't even understand this.
> Calculation of unemployment and real debt has seldom matched the norms of most other western countries.
This is a big claim. What other countries? What are their methods and how do they differ?
Calculating unemployment seems like it is always going to be a challenge no matter how it is done. For example, the current system in the US does not track unemployed graduates, as they have not been laid off and are not filing for unemployment benefits.
> for many years political manipulation of economic data has screwed things up.
That’s a bold claim, do you have sources to back it up? If true, we’d all (I’d, at least) learn an important lesson.
"for many years political manipulation of economic data has screwed things up"
That's quite a claim. A "whopper" one might say.
mark_l_watson says"The wealthiest people in the USA are now in the mode of grabbing what they can while the 'grabbing is still good.' "
(1)This is normal human behavior usually described as "capitalism". It has been well-studied & the literature awaits you, e.g., The Wealth of Nations, published in 1776 by Scottish economist Adam Smith. Go ahead: if you read the entire tome you may be the first man to do so. Perhaps you could write a usefully shortened version or versions of it.
mark_l_watson says"Without this immoral looting, our government could do a better job of protecting US citizens as our empire collapses."
(2)the behavior isn't immoral, as you will find by merely educating yourself [see (1)].
(3)There was/is no [US]"empire". And certainly none in the sense of the Persian, Mongol, Roman, incan, Spanish, British, French, or even, God forbid, Belgian empire, all of which were true empires.
Your comment is broadly misleading. In fact, I would say that "shadow stats" guys like you have enabled the destruction of the system by creating the space to cast doubt on the valid methods used by BLS. BLS unemployment metrics have a valid basis and where they differ from Eurostat those differences are minor and with rational basis (such as 16 vs. 15 year old starting age).
We’ve never doubted the BLS numbers before until this admin. Think about how that screws things.
Sure, but thetes a sizeable diffetence when skewed data becomes no-data.
Context has power. Removing it is thining the herd of power.
Depending upon which party controls the White House, numbers seem to be released to support a predictable narrative, then adjusted later.
But that's probably just my lying' eyes.
I agree. The super rich have been in "prepper" mode for a long time now
https://www.theguardian.com/news/2022/sep/04/super-rich-prep...
> They started out innocuously and predictably enough. Bitcoin or ethereum? Virtual reality or augmented reality? Who will get quantum computing first, China or Google? Eventually, they edged into their real topic of concern: New Zealand or Alaska? Which region would be less affected by the coming climate crisis? It only got worse from there. Which was the greater threat: global warming or biological warfare? How long should one plan to be able to survive with no outside help? Should a shelter have its own air supply? What was the likelihood of groundwater contamination? Finally, the CEO of a brokerage house explained that he had nearly completed building his own underground bunker system, and asked: “How do I maintain authority over my security force after the event?” The event. That was their euphemism for the environmental collapse, social unrest, nuclear explosion, solar storm, unstoppable virus, or malicious computer hack that takes everything down.