by Sundance at The Conservative Treehouse
The Bureau of Economic Analysis (BEA) is scheduled to deliver their calculation for the second quarter (Apr, May, June) Gross Domestic Product (GDP) on July 28, next week. The calculation is essentially the total value of all goods and services generated within the U.S. economy, minus the value of exports received.
CTH has predicted the people within the BEA research group [SEE HERE], ie those who make the determinations of GDP, will circle the statistical wagons and generate something akin to a positive 0.5% GDP figure for Q2.
The reason is simple… As with all other highly political institutions in U.S. government, the BEA is driven by political ideology.
With the Biden administration’s Green New Deal energy policy driving the U.S. economy into the ground; and with the BEA statisticians worshipping at the same governmental altar as all other climate change ideologues; they will do everything in their power to defend what the people behind Joe Biden are doing.
[For the greater good and all things that are associated with that line of elitist thinking.]
The BEA data team will first play with the statistics by underestimating the rate of inflation in their value calculations. If that effort doesn’t yield the desired result, the BEA will likely move to avoid calculating import data from the West coast (Port of LA, Port of Long Beach, and/or Port of Oakland) for the month of June. The current labor union and trucker issues within the ports will help create the noise to justify any interim data that is false. [Whoops, we’ll catch it in the updates, etc]
That’s just how this BEA crew rolls. If they can save the planet by fudging the statistics…Continue Reading