{"id":295,"date":"2003-12-10T13:41:28","date_gmt":"2003-12-10T18:41:28","guid":{"rendered":"http:\/\/www.brianarner.com\/weblog\/wordpress\/2003\/12\/there_was_no_1548_recession\/"},"modified":"2003-12-10T13:41:28","modified_gmt":"2003-12-10T18:41:28","slug":"there_was_no_1548_recession","status":"publish","type":"post","link":"http:\/\/www.brianarner.com\/weblog\/2003\/12\/there_was_no_1548_recession\/","title":{"rendered":"There Was No 1548 Recession"},"content":{"rendered":"<p>Say Uncle posted on a <a href=\"http:\/\/saysuncle.com\/archives\/001533.html\">revision  to the official figures relating the start of the Bush recession<\/a>.  I thought it curious they are still revising data from three years ago.  Then I read further:<\/p>\n<blockquote><p> Until now, statisticians at Commerce&#8217;s Bureau of Economic Analysis believed the economy did not start shrinking until early 2001. But extensive <i>revisions dating back to 1929<\/i>, incorporating both improved statistics and changes to definitions, revealed a contraction in gross domestic product, or GDP, in the July-to-September quarter of 2000.<br \/>\n[Emphasis added]<\/p><\/blockquote>\n<p>It&#8217;s interesting how economists <strike>manipulate<\/strike> revise data as they go.  I&#8217;m not sure what we recently found out about 1929 that we didn&#8217;t know in, say, 1999.  And why stop at 1929?  We can write some exciting new chapters in world economic history by merely tweaking a few definitions and formulas.<\/p>\n","protected":false},"excerpt":{"rendered":"<a href=\"http:\/\/www.brianarner.com\/weblog\/2003\/12\/there_was_no_1548_recession\/\" rel=\"bookmark\" title=\"Permalink to There Was No 1548 Recession\"><p>Say Uncle posted on a revision to the official figures relating the start of the Bush recession. I thought it curious they are still revising data from three years ago. Then I read further: Until now, statisticians at Commerce&#8217;s Bureau of Economic Analysis believed the economy did not start shrinking until early 2001. But extensive [&hellip;]<\/p>\n<\/a>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-295","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-uncategorized","7":"h-entry","8":"hentry"},"_links":{"self":[{"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/posts\/295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/comments?post=295"}],"version-history":[{"count":0,"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/posts\/295\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/media?parent=295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/categories?post=295"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brianarner.com\/weblog\/wp-json\/wp\/v2\/tags?post=295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}