I was preparing the 2009 version of "Real GDP is Decreasing", and I noticed something that made me say "WTF? Shenanigans!"
As part of that post, I use M2 as published by the Federal Reserve. I updated my Excel spreadsheet for 2009, and I noticed something bizarre. All the values changed!
|Year||Raw M2 (Mar 2010)||Raw M2 (Mar 2009)||% diff|
WTF is up with that? I could understand them adjusting the 2009 value or even the 2008 value. Why did they change every value all the way back to 1990? Why wasn't there a footnote explaining the change? That was the "raw M2" column, with no seasonal adjustment?
It's only a 1% difference. Still, I'm disturbed that the numbers changed. Why did they change?
The Jan 2010 value is suspiciously low. I expected it would be a lot higher. Can you trust statistics published by State bureaucrats?
I also checked the raw GDP numbers. They also changed all of them, all the way back to 1990! This is raw GDP (no inflation adjustment). WTF is up with that?
Are State bureaucrats just making up whatever numbers they feel like? Then, if the lies aren't believable anymore, they retroactively change them?