They're measuring and quoting the wrong empirical data in the first place, for a variety of reasons. Largely to keep the narrative going that the fed is needed to stabilize the economy. Unemployment figures is a grossly misleading term for what that figure actually measures, for example. They don't look like idiots to everyone, only to those people who do economics right.
And they're not idiots. It's very carefully constructed to avoid most people ever questioning the system, while keeping the system self sustaining within a gullible populace.
They're after their own wealth and prestige. Not that of a political party.
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Hmmm, then they have failed. Their numbers are constantly questioned and have been for decades.
But not enough to oust them. They could never stop me from questioning them. They don't have a monopoly on thought.
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True, but in this case that's not what we are talking about. We are talking about survey data estimates and actual data post timeframe comparisons/revisions.
I thought we were talking about whether the fed lies.
Oh right lol
Today is my day off from being an economist 😂
To be fair, we were bouncing around different things.
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