Nov 6, 2012
Every month, Charles Biderman digs through reems of government produced statistics. Often he finds them of little or no value. In fact, he accesses real-time economic data that is far more current and accurate than what gets released by the government statistics mills. For example, rather than relying on government surveys, Charles goes right to Visa and Master Card to get up to the minute information on retail sales. Labor statistics are another area of deliberate obfuscation and concealment. By simply accessing social security and payroll witholding reports, the government has the ability to issue real time jobs stats. Instead, they go through a convoluted survey process, which then needs to be seasonally adjusted and is inaccurate anyway. Perhaps accurate statistics would undermine the political advantages that these reports are often used for.
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