{"id":5744,"date":"2015-07-30T17:44:11","date_gmt":"2015-07-30T17:44:11","guid":{"rendered":""},"modified":"2015-07-30T17:44:11","modified_gmt":"2015-07-30T17:44:11","slug":"the_new_gdp_is_bs","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/","title":{"rendered":"The New GDP Is BS"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: Eric in Latham, New York. Hello, sir.<\/p>\n

CALLER: Rush?<\/p>\n

RUSH: Yes.<\/p>\n

CALLER: Mega dittos squared.<\/p>\n

RUSH: I appreciate that. Thank you very much, sir. <\/p>\n

CALLER: I don\u2019t know if you were watching this morning. I had CNBC on, and the government now has a new formula for calculating the GDP.<\/p>\n

RUSH: Yes, we predicted this. What a prediction! We told you that they were going to revise the way they calculated GDP so as not to have to report how bad it is. This was some months ago.<\/p>\n

CALLER: What has happened is, typically what happens is they report the number and then there\u2019s two or three revisions. Well, the final revision had been done on the first quarter, and it was negative. It was negative 0.2. Well, with the new formula, they\u2019ve been able to revise that, because there\u2019s a new formula. Now it\u2019s positive. <\/line><\/p>\n

RUSH: Yes, I have that story right here (paper shuffling) in my formerly nicotine-stained fingers. I anticipated somebody calling about this today, and right here it is. I have it from Bloomberg, but CNBC has it too. Six of one, a half dozen to the other. The headline is (don\u2019t go away Eric), “The GDP Rises 2.3% Second Quarter; First Quarter Revised Upwards.”<\/a> He\u2019s right. It was negative 0.9%. But now there have been revisions, and what is the new number? It\u2019s like two point —<\/p>\n

CALLER: It\u2019s 2.3.<\/p>\n

RUSH: That is second quarter growth. They reported 2.3% second quarter growth. The first quarter has been revised up. This was last year. No, the 2.1% GDP for the first quarter of last year has been revised to a negative 0.9%. New adjustment. Now I\u2019m confused what it is. But you\u2019re right. They\u2019ve changed the whole formula. They announced they were going to, so the GDP is calculated a different way, so it never is portrayed to be as bad as it really is. That\u2019s part of managing the decline and establishing the “new normal,” like the unemployment number. The same thing is happening there. They\u2019re revising that over and over again. There\u2019s no way it\u2019s 5.7% unemployment right now. It\u2019s just not possible.<\/p>\n

CALLER: But it\u2019s also spun as if 2.3% is good.<\/p>\n

RUSH: Yeah. <\/p>\n

CALLER: That\u2019s the current number. Now wait a minute. The weather\u2019s been good here in the second quarter. <\/line><\/p>\n

RUSH: That\u2019s right. They gave the weather as the excuse for the 0.9% in the first quarter. <\/p>\n

CALLER: Shouldn\u2019t it be 5%? Shouldn\u2019t it be 5%, because we\u2019ve had pretty good weather.<\/p>\n

RUSH: It should be 5%. If we had real recovery, economic growth going on here. You\u2019re exactly right. But this is part of defining the new normal. But here\u2019s the Wall Street Journal: “The Worst Expansion Since World War II Was Even Weaker<\/a> — The economic expansion — already the worst on record since World War II — is weaker than previously thought, according to newly revised data.<\/p>\n

“From 2012 through 2014, the economy grew at an all-too-familiar rate of 2% annually, according to three years of revised figures the Commerce Department released Thursday. That\u2019s a 0.3 percentage point downgrade from prior estimates,” and it will probably be downgraded, revised down again, in the coming years. But no, you\u2019re exactly right. The regime today is reporting GDP of 2.3% as though it is glorious news. <\/p>\n

CALLER: I think we\u2019re going to look back on this era as the era of false numbers, because it\u2019s got to come out some day. I mean, numbers don\u2019t lie.<\/p>\n

RUSH: Well, numbers lie all the time. Numbers can be made to lie. If you write the numbers, if you control the calculation, you can make the numbers whatever you want them to be, which is what is happening here. But I agree with you. You\u2019re kind of echoing a point that I made yesterday, and that is 100 years from now Americans are going to be looking back at this era with utter shock. <\/p>\n

They\u2019re going to learn what was discovered going on at Planned Parenthood. They are going to read how the people in charge made excuses for what they were doing, killing babies in the womb and harvesting the organs supposedly for research. One hundred years from now people are not going to believe that that kind of thing, this kind of thing, that is routine, actually happened in this country. <\/line><\/p>\n

If I\u2019m wrong about that, if 100 years from now that kind of news does not shock people, then this isn\u2019t going to be the kind of country we want to contemplate anyway. But I think it\u2019s going to be. We always have cyclical valleys and hills and peaks and we\u2019re definitely in a down valley right now, culturally, generationally. We\u2019re going to recover from this. That\u2019s the history of the country. We always do. We always have. <\/p>\n

And at some point down the road in the future, when the people writing history today are no longer around to write it and there\u2019s an opportunity for more objective look back, because the facts here will not be able to be erased. There\u2019s now an alternative media, alternative history writers. So the facts of what\u2019s being learned today, what\u2019s happening, will always survive. I\u2019m telling you, people will look back and, like you say, look back at the economy. They\u2019re going to look back at — with an objective look — just how stagnant, unproductive, flat or worse, this economy was. <\/p>\n

And they\u2019re then going to read that the American people were gloriously in support of the administration responsible for it. And they\u2019re going to scratch their heads and they\u2019re not going to understand it. And hopefully it will be a learning experience that never again would people responsible for what\u2019s happening in our country be elected and given positions of power. Sadly, that\u2019s the thing that hasn\u2019t been learned. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Eric in Latham, New York. Hello, sir. CALLER: Rush? RUSH: Yes. CALLER: Mega dittos squared. RUSH: I appreciate that. Thank you very much, sir. CALLER: I don\u2019t know if you were watching this morning. I had CNBC on, and the government now has a new formula for calculating the GDP. RUSH: Yes, we predicted […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nThe New GDP Is BS - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"The New GDP Is BS - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Eric in Latham, New York. Hello, sir. CALLER: Rush? RUSH: Yes. CALLER: Mega dittos squared. RUSH: I appreciate that. Thank you very much, sir. CALLER: I don\u2019t know if you were watching this morning. I had CNBC on, and the government now has a new formula for calculating the GDP. RUSH: Yes, we predicted […]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"GeorgePrayias\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\",\"url\":\"https:\/\/admin.rushlimbaugh.com\/\",\"name\":\"The Rush Limbaugh Show\",\"description\":\"Excellence In Broadcasting\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/admin.rushlimbaugh.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg\",\"contentUrl\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/#webpage\",\"url\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/\",\"name\":\"The New GDP Is BS - The Rush Limbaugh Show\",\"isPartOf\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/#primaryimage\"},\"datePublished\":\"2015-07-30T17:44:11+00:00\",\"dateModified\":\"2015-07-30T17:44:11+00:00\",\"author\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/9a33276eb9dc5b6d3f8218957f30e6b4\"},\"breadcrumb\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rushlimbaugh.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The New GDP Is BS\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/9a33276eb9dc5b6d3f8218957f30e6b4\",\"name\":\"GeorgePrayias\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d290ab65e2eaca3719268528f83b85bf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d290ab65e2eaca3719268528f83b85bf?s=96&d=mm&r=g\",\"caption\":\"GeorgePrayias\"},\"url\":\"https:\/\/admin.rushlimbaugh.com\/daily\/author\/GeorgePrayias\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The New GDP Is BS - The Rush Limbaugh Show","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/","twitter_card":"summary","twitter_title":"The New GDP Is BS - The Rush Limbaugh Show","twitter_description":"RUSH: Eric in Latham, New York. Hello, sir. CALLER: Rush? RUSH: Yes. CALLER: Mega dittos squared. RUSH: I appreciate that. Thank you very much, sir. CALLER: I don\u2019t know if you were watching this morning. I had CNBC on, and the government now has a new formula for calculating the GDP. RUSH: Yes, we predicted […]","twitter_image":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg","twitter_misc":{"Written by":"GeorgePrayias","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/admin.rushlimbaugh.com\/#website","url":"https:\/\/admin.rushlimbaugh.com\/","name":"The Rush Limbaugh Show","description":"Excellence In Broadcasting","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/admin.rushlimbaugh.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/#primaryimage","inLanguage":"en-US","url":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg","contentUrl":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg"},{"@type":"WebPage","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/#webpage","url":"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/","name":"The New GDP Is BS - The Rush Limbaugh Show","isPartOf":{"@id":"https:\/\/admin.rushlimbaugh.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/#primaryimage"},"datePublished":"2015-07-30T17:44:11+00:00","dateModified":"2015-07-30T17:44:11+00:00","author":{"@id":"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/9a33276eb9dc5b6d3f8218957f30e6b4"},"breadcrumb":{"@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/30\/the_new_gdp_is_bs\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rushlimbaugh.com\/"},{"@type":"ListItem","position":2,"name":"The New GDP Is BS"}]},{"@type":"Person","@id":"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/9a33276eb9dc5b6d3f8218957f30e6b4","name":"GeorgePrayias","image":{"@type":"ImageObject","@id":"https:\/\/admin.rushlimbaugh.com\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/d290ab65e2eaca3719268528f83b85bf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d290ab65e2eaca3719268528f83b85bf?s=96&d=mm&r=g","caption":"GeorgePrayias"},"url":"https:\/\/admin.rushlimbaugh.com\/daily\/author\/GeorgePrayias\/"}]}},"_links":{"self":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/5744"}],"collection":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/comments?post=5744"}],"version-history":[{"count":0,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/5744\/revisions"}],"wp:attachment":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/media?parent=5744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/categories?post=5744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/tags?post=5744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}