Back to Soviet Statistics
I'm late to comment on this, and didn't have time yet to absorb other players' responces (which I'm sure will be as plentiful as the unreported M3 supply), but my first gut reaction is we're back in the USSR, with official statistics reporting that the citizens' well-being grew another percentage point on increased production of pig iron. So they're telling us that inflation is slowing down? To mere 0.2% per month? That it's less in April than it was in March? Well, here's my take on this: I will not believe these numbers even if they show me all the input data with each data point signed and rubber-stamped by PriceWaterhouse Coopers, Ernst&Young and Arthur Anderson. My only question how long will it take before the Bureau of Labor Statistics loses all vestiges of credibility.