Fake News: Economics Edition

02/02/201919 Comments

Just when you thought "fake news" was only about those dastardly Russians hiding under every bed, Japan comes out and admits that 40% of its economic data is bogus. That's right, a report from Japan's Internal Affairs Ministry this week reveals that 22 of the 56 key economic statistics reported by the government are faulty and "that irregularities in 21 of the 22 sets amount to violations of the statistics law."

The story is set to become yet another political scandal plaguing the beleaguered reign of Prime Minister Abe. Not only did the government's use of the faulty statistics lead to an underpayment of unemployment benefits, but, worse yet (according to opposition members in the Japanese Diet), the news is threatening to deliver a serious blow to Japan's global reputation.

"There is no telling how far the impact has spread," one senior BOJ official has ominously warned.

But fret not, dear Japanese. This scandal doesn't make you stand out from the crowd at all. In fact, quite the contrary. It's a well-known fact that every nation in the world fudges the numbers and cooks the books to make things seem rosier than they really are.

What? Is the dodgy data practices of every government in the world news to you? Then don't miss this months edition of The Corbett Report Subscriber where I dish all the juicy details and expose the statistical shenanigans of the central bankers and their political pals. Also, stick around for this week's recommended reading, listening and viewing.

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Comments (19)

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  1. manbearpig says:

    Well. I’ve argued that institutionalized secrecy in the form of Classified Information (in the interest of national defense, of course) has enshrined (and legalized) “Government Conspiracies”. Or at least hiding them. Government Conspiracies are enshrined SOPs.

    Anyhow, in our present society, the notions of “legal” or “illegal” only have binding force for those naive, stupid or poor enough (as I was/am) to believe they mean anything.

    I mean all’s fair in love and war. And the human condition appears to be an unending war.

    • generalbottlewasher says:

      Trifold homo-chimeras full of hubbub! You may be right. In fact you are probably correct which crushes the creative soul.
      Absalom, Absalom!

      • generalbottlewasher says:

        No doubt modern Psychiatry is modeled after the Dismal Science of Economics . Soul crushing murder of creativity. Hyper-delusional excuses for justification of abnormal greed. A component of just what you said along with what Falkner said. Economics = Bacon cuss word for procreating.

  2. Ukdavec says:

    Sticking with the economics theme, this is a good read on the new economic theory on the block – MMT – or the road to hyperinflation?


  3. bladtheimpaler says:

    Further on Fitts’ pronunciations she has recently called the America Federal govt a “securities marketing shell” employing fascists accounting practices. Like wise many other levels of govt.and not just confined to America. My definition of fascist accounting is to defraud your investors (tax and pension payers as well as those buying govt. bonds-T bills etc) while taking what you want by any means possible from the rest of the world. Meanwhile any assets of value are bundled and disappear out the back door.

    It appears that TPTB are descending on many a national corporation just as a vulture fund would on a distressed company, to sell off the profitable assets to their friends while looting the pension fund with exorbitant management fees (seen as cost +++ contracting out) while turfing the employees and shuttering the rest. It seems the days of the national corporation are nearing their end. You can bet your last dollar that a parallel economic system has being readied to be slid in as the replacement ‘solution’ when the final collapse actually does take place and the world is foreclosed upon. Technocracy Rising….

  4. HomeRemedySupply says:

    Again, as usual, I was not disappointed with reading The Corbett Report’s subscriber article Fake News: Economics Edition.
    To quote James:
    “…This is absolutely incredible.
    Every regime in history has lied to its public, but it’s difficult to find an example of one that has ever enshrined its “right” to lie to its people in black and white. Well, here it is. In the name of “national security,” governments can move around line items, mislabel expenses, hide revenue sources, and otherwise fake their budgets….

    John Williams’ website, ShadowStats.com, is a real keeper.
    Thanks so much.

  5. HomeRemedySupply says:

    Silver for 2019
    Okay, I’m just a regular guy who hardly has any money. So, my opinions on money matters don’t carry no weight.
    Over the past few months, I have kind of fixated on silver.

    We had a recent spike in gold/silver prices the last week of January.

    For a good while, I have been following Mike Maloney’s videos and recently have been watching some of the Kitco interviews to gain a broad round of perspectives.
    Some of the Kitco videos are very insightful. For example: MEGA MERGERS Occasionally, the marketplace will be abuzz about a mega-merger. Recently, there have been some big mergers of some gold companies (e.g. Barrick, Newmont)
    In a Kitco interview, Nolan Watson (Sandstorm) gives some great insight on how Wall Street investment protocol has changed and how mega-mergers, in general, benefit.

    Silver Sales Pitch.
    Dang…the following is a pretty good sales pitch on silver.
    I’d probably buy a used car from this guy.
    Anyway, for what its worth, despite the hyperboles…

    • Thanks for the link. Silver looks good to me… and all other precious metals to a lesser extent too.

    • HomeRemedySupply says:

      I do have one important piece of financial advice…
      “Never take my financial advice.”

    • HomeRemedySupply says:

      Silver enthusiast, David Morgan had mentioned this Lode.one silver monetary system of exchange using the blockchain. So, I took a look at it.

      The concept is very interesting. Some aspects are above my understanding.
      Here is an interview with some of the founders…
      Blockchain Interviews – Ian and David from LODE.one, Silver backed Cryptocurrency

      From the lode.one website…
      The LODE Community consists of silver investors and sound money advocates with a common vision to cause the creation of a Collectively Organized Distributed Ecosystem (C.O.D.E.) that will organize, arrange, manage and provide oversight for two unique cryptographic representations of reserved and vaulted silver bullion.

      LODE community members recognize that silver can serve as an affordable, verifiable, safe, and secure store of value, and that when “tokenized” upon blockchain architecture, may become a superior medium of exchange, one that returns to the economic system a fungible, private, resilient, and autonomous unit of account.

  6. FlyingAxblade says:

    & the Protestant Church listen’s to tinnitus and thinks it’s the voice of God.
    For the Intellectual, “The Pilgrim’s Regress” by C.S. Lewis will tickle you.
    He wasn’t just the Narnia author, he was a REAL philologist, he was the person that got Tolkien to make “his elf books” into the block buster it has become. C.S. Lewis book “That Hideous Strength” exposes Progressive Democracy as Socialism in quite the most extraordinary way, so that even blue pillers can see what’s in store.
    There’s a reason there are entire colleges based on his writing.
    @James Corbett: I’ve seen you use the fluoride-addled term time and again, I think it’s time for a Step-by-Step introduction to what’s wrong. WE who know, know. We who want to tell others about the atrocities they live with come across as TMI. We get excited when someone listens to a rant about Cough Trails, and we want to get them to see the problem with Fluoride, 5G, Nexrad, Pharma, Late Term Abortion, The Fed, the Vatican, the two wings of the angel of guvmint, the obvious hypocrisy of the deep state globalists, the immigration invasions of Europe, the Far East is taking over Africa, etc. If I were of a calmer mind, but I’m an activist, not merely a demonstrator, I would make these things in happy little 3 minute chunks which require chewing, and afterward, digesting for 8 hours, as a well balanced meal to share. Like a plate of hummus and chips, all can dip. So that when they go to poop they are glad to be rid of that infectious groove, but when they go to wipe, they begin to see the paper. AND THEN feel the need to wash their hands of the stain of conformity.
    Part 2: I hope you get a dog when your first born is 7 or 8 so that he can learn the responsibility of love. P.S. Cat’s are not for boys. LOL!

    • manbearpig says:

      shoot. that was one pithy comment. CS Lewis, hummus and the responsability of love… the bar just went up a notch…

    • Fawlty Towers says:

      Excellent comments!

      Like a plate of hummus and chips, all can dip. So that when they go to poop they are glad to be rid of that infectious groove, but when they go to wipe, they begin to see the paper. AND THEN feel the need to wash their hands of the stain of conformity.

      But must you be so descriptive with your analogies? 🙂

  7. HomeRemedySupply says:

    Corbett’s Recommended Viewing has FACEBOOK & TWITTER: Are you ever going to tell me the real reason you banned me?. She really raked them over the coals.

    WeAreChange – Feb 2, 2019 – re: TWITTER
    Luke and Bermas give a breakdown of the Joe Rogan interview with Twitter CEO Jack Dorsey. (Some Alex Jones impressions also.)

  8. zyxzevn says:

    Book: Operation gladio
    Operation Gladio: The Unholy Alliance between the Vatican, the CIA, and the Mafia – by Paul L. Williams

    Interesting interview about “operation gladio”
    Where secret bases in the US are used to train radicalized moslems.
    They are flown to Afghanistan by the CIA to fight against troops.
    The billions from the drugs-trade are used to finance these operations.

    What would someone do with a trillion?

    I was also wondering where the pentagon trillions are going to.
    It is such a gigantic amount that it would be hard to hide it completely.

    Some options:
    1) Financing Wars
    “the smell of napalm in the morning”
    2) Conquering and buying resources. Like lithium mines, gold+ guards.
    “I want it all”
    3) Offshore properties on the Caribbean
    “That little shed”
    4) Yachts
    “Who doesn’t need a boat”
    5) The $21-$32 trillions are in hidden offshore accounts.
    “For my children’s education”
    6) Politicians
    “The best money can buy”
    7) Rothchild e.a.
    “Let’s keep in the family”
    8) Women
    “I just did a little shopping”
    9) Secret bases and prisons
    “That’s no moon!”
    10) Secret technology
    “Never open that door!”
    11) UFOs
    “Where did that cattle go?”

    The offshore accounts and properties seem the most likely option for me.
    Can someone identify the properties?

  9. HomeRemedySupply says:

    I did not watch the Superbowl on Sunday. I rarely do watch football.
    But I caught some of the headlines this morning.

    I like seeing how “Corn Syrup” is being demonized.
    It ruffled some feathers.
    The nation’s largest beer criticizes competitors use of corn syrup

    ha!…I had gone to YouTube to watch the “corn syrup ad” on the brewer’s YouTube Channel.
    It was restricted. “Content Warning – This video may be inappropriate for some users. Sign in to confirm your age.”
    Silly gootube.

  10. scpat says:

    In recommended reading, the interview hosted by Robert Scheer was interesting. Particularly interesting was the CIA officer named at the end, Alfreda Frances Bikowsky, who supervised the blocking of relevant information on the alleged hijackers to the FBI before 9/11, and was heavily involved in torture programs. Reading up on her, I found she has all the signs of a viscous psychopath. She is quite an interesting character.


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