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Dulcinea

(9,095 posts)
Mon Aug 18, 2025, 07:57 AM Aug 18

What would happen if America started faking its economic data? Here's what happened when other countries did it

(CNN) Lying to your lenders is a bad enough idea when you’re an individual. It’s even worse when you’re a country.

That’s the specter critics of President Donald Trump have raised after he fired the head of the US Bureau of Labor Statistics this month after disappointing jobs data. While there’s no indication the data has been rigged (assertions from the White House aside) – or will be rigged in the future – the White House’s nomination of a partisan to lead the government’s economic data agency was enough to worry global economic and financial circles.

There’s historical precedent for that fear. Countries like Greece and Argentina have been both been punished by investors for putting out manufactured numbers in the past.

“President Trump has just taken one very negative stop along a slippery slope,” Alan Blinder, a former vice chair of the Federal Reserve, told CNN. “The next worry is going to be manipulation” of data.

https://finance.yahoo.com/news/happen-america-started-faking-economic-080041502.html

10 replies = new reply since forum marked as read
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What would happen if America started faking its economic data? Here's what happened when other countries did it (Original Post) Dulcinea Aug 18 OP
When investors will not buy our debt gab13by13 Aug 18 #1
Would be surprised Timewas Aug 18 #2
It's not already happening. Sheessh. Wiz Imp Aug 18 #3
OK Timewas Aug 18 #5
It's not my beliefs, it's a fact. Wiz Imp Aug 18 #7
Something attributed to Mark Twain Timewas Aug 19 #8
So you know better than every single economist and statistician in the world? Got it. Wiz Imp Aug 19 #9
OK n/t Timewas Aug 19 #10
If Trump is indeed a Russian agent, he is the most successful Russian agent in history. Jim__ Aug 18 #4
Everything Trump touches dies Yo_Mama_Been_Loggin Aug 18 #6

gab13by13

(29,739 posts)
1. When investors will not buy our debt
Mon Aug 18, 2025, 08:13 AM
Aug 18

the dollar will be at risk for not being the world's currency.

Our GDP used to cover our debt, not any more.

Timewas

(2,516 posts)
2. Would be surprised
Mon Aug 18, 2025, 08:38 AM
Aug 18

If not already happening, I don't trust any numbers coming out of an government office anymore.

Wiz Imp

(7,025 posts)
3. It's not already happening. Sheessh.
Mon Aug 18, 2025, 09:13 AM
Aug 18

It will be blatantly obvious if/when it happens. It's far more likely they will just stop publishing data that doesn't look good.

Timewas

(2,516 posts)
5. OK
Mon Aug 18, 2025, 11:10 AM
Aug 18

You are welcome to your beliefs....How are you so sure??If you have some inside info I would love to see it..

Wiz Imp

(7,025 posts)
7. It's not my beliefs, it's a fact.
Mon Aug 18, 2025, 11:19 PM
Aug 18

I am a recently retired government statistician who worked closely with the Bureau of Labor Statistics for over 33 years. I can say with absolute certainty that the career government statisticians will never manipulate data, they would resign before throwing away their integrity with fake data.

Beyond that, there are 3 blatantly obvious signs that the data has not been manipulated to this point. First, if they were going to fake data, they'd make the data look good. All of the economic data released by the administration so far has been mediocre at best and downright terrible in some cases. Second, firing the BLS Commissioner was an obvious sign that the data from BLS has been honest. Third, and most importantly, the entire economic community in this country brutally criticized Trump for firing the BLS commissioner fearing it was a sign he will try to manipulate the numbers moving forward. I have been unable to find record of a single economist or statistician who has accused Trump of already faking the data. That's because it hasn't happened. Professional economists and statisticians aren't stupid - they will be able to tell when the data ceases being honest and at that point will make sure the entire world knows it.

Timewas

(2,516 posts)
8. Something attributed to Mark Twain
Tue Aug 19, 2025, 09:33 AM
Aug 19

The three types of lies "Lies, Damn lies and statistics"

Too easy to manipulate numbers to be really believable...Regardless of what you are an expert at, I do not believe anything that comes out of this administration.

My opinion

Jim__

(14,911 posts)
4. If Trump is indeed a Russian agent, he is the most successful Russian agent in history.
Mon Aug 18, 2025, 09:20 AM
Aug 18

The undermining of the US economy being just one of his accomplishments.

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