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Friday, January 4, 2013

The New and Improved Metric System

If it fits the political narrative, wear it!


Inflation
Inflation (Photo credit: Night Owl City)
Related source »
Peter Schiff Blog: The Underreporting Of Inflation: 'via Blog this'
[This related source is recommended in its entirety.]

“Since the 1970's the preferred government inflation metrics have changed so thoroughly that they bear scant resemblance to those used during the "malaise days" of the Carter years. Government and academia defend the integrity and accuracy of the modern methods while dismissing critics as tin hat conspiracy theorists. But given the huge stakes involved, it's hard to believe that institutional bias plays no role. Government statisticians are responsible for coming up with the methodology and the numbers, and their bosses catch huge breaks if the inflation numbers come in low. Human behavior is always influenced by such incentives.”
— Peter Schiff, January 4, 2013 (peterschiffblog.blogspot.com)


Many of us are familiar with the expression, "Lies, damned lies, and statistics", which could serve as the mantra for every politician who ever sought to supersede lawyers as the scum de la scum of society. This is why those politicians who have managed to worm their way into the hearts of the hoi polloi, like the heartworms they truly are, strive to mask their malodorous essence with $500 haircuts and industrial strength deodorants.

Enter political spin, as well as the armies of spin-masters who ply this trade. But, as even the [m]asses learned to be somewhat wary of spin, a new paradigm became necessary to reinvigorate complacency among the perpetually perplexed.

Thus emerged the new and improved system of political metrics, whereby the pliable metrics assume the characteristics appropriate to the preferred political narrative.
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