The Crash Course - Chris Martenson [142]
8. Chris Martenson, “Housing—Simple As That,” ChrisMartenson.com. www.chrismartenson.com/martensonreport/housing-simple (accessed October 29, 2010).
9. “Flow of Funds Accounts of the United States,” Federal Reserve Statistical Release. www.federalreserve.gov/releases/z1/ (accessed September 7, 2010).
10. Ludwig von Mises, “Interest, Credit Expansion, and the Trade Cycle: The Monetary or Circulation Credit Theory of the Trade Cycle,” Human Action: The Scholars Edition. http://mises.org/humanaction/chap20sec8.asp (accessed October 25, 2010).
Chapter 12: Like a Moth to Flame: Our Destructive Tendency to Print
1. Alan Greenspan, “Gold and Economic Freedom,” in Ayn Rand, ed., Capitalism: The Unknown Ideal (New York: Penguin Group, 1967), 101–108.
2. Carmen M. Reinhart and Kenneth S. Rogoff, This Time Is Different: Eight Centuries of Financial Folly (Princeton: Princeton University Press, 2009).
Chapter 13: Fuzzy Numbers
1. Kevin Phillips, “Numbers Racket: Why the Economy Is Worse than We Know.” Harper’s Magazine, May 2008. www.harpers.org/archive/2008/05/0082023 (accessed September 7, 2010).
2. “Fed Luminaries Spar Over U.S. Inflation Target,” The Wall Street Journal, April 20, 2009. http://online.wsj.com/article/SB124006652812232007.html (accessed October 25, 2010).
3. “Zimbabwean dollar,” Wikipedia. http://en.wikipedia.org/wiki/Zimbabwean_dollar (accessed September 7, 2010).
4. “Consumer Price Index: December 2007,” Bureau of Labor Statistics. www.bls.gov/news.release/History/cpi_01162008.txt (accessed October 25, 2010).
5. “Retail Food Prices Up at Beginning of 2008,” American Farm Bureau, March 27, 2008. www.fb.org/index.php?fuseaction=newsroom.newsfocus&year=2008&file=nr0327.html (accessed September 7, 2010; calculations were done manually by author).
6. Timothy Aeppel, “Accounting for Quality Change,” in Essentials of Economics, ed. N. Gregory Mankiw (Mason, OH: Cengage Learning, 2008), 350.
7. John Williams, “Alternate Inflation Charts,” Shadow Government Statistics. www.shadowstats.com/alternate_data/inflation-charts (accessed November 8, 2010).
8. Ibid.
9. Nicole Mayerhauser and Marshall Reinsdorf, “Housing Services in the National Economic Accounts,” Bureau of Economic Analysis, 1. www.bea.gov/papers/pdf/RIPfactsheet.pdf (accessed September 7, 2010).
10. “Table 7.12. Imputations in the National Income and Product Accounts.” Survey of Current Business, August 2010. Bureau of Economic Analysis, 169, line 133. www.bea.gov/histdata/Releases/GDP_and_PI/2010/Q2/Third_September-30-2010/TP/TPSection7all_xls.xls (accessed October 27, 2010).
11. Ibid., lines 28 and 29.
12. For a rather nice and comprehensive discussion of the role and history behind the utilization of hedonics by the BEA, the reader is directed to a paper by Dave Wasshausen and Brent R. Moulton titled, “The Role of Hedonic Methods in Measuring Real GDP in the United States.” www.bea.gov/papers/pdf/hedonicGDP.pdf (accessed October 15, 2010).
13. Mike Shedlock, “Grossly Distorted Procedures,” Mish’s Global Economic Analysis, May 11, 2005. http://globaleconomicanalysis.blogspot.com/2005/05/grossly-distorted-procedures.html (accessed November 4, 2010).
14. Phillips, “Numbers Racket.”
Chapter 14: Starting the Race with Our Shoes Tied Together
1. “Crumbling Nation? U.S. Infrastructure Gets a ‘D,’” MSNBC.com Staff and News Service Reports, March 9, 2005. www.msnbc.msn.com/id/7137552/ (accessed September 7, 2010).
2. “Personal Savings Drop to a 73-Year Low,” Associated Press, January 1, 2007. www.msnbc.msn.com/id/16922582/ (accessed September 7, 2010).
3. “Eurozone household savings rate in December 2009 was 15.1% compared with US at 3.6% and Japan just above 2.0%,” Finfacts Ireland, April 30, 2010. www.finfacts.ie/irishfinancenews/article_1019587.shtml (accessed October 27, 2010).