He argues that national economic figures are unreliable. In his words the government has "cooked the books" to produce an "unrealistic view of where the economy is." For example, the Govt pretends that the annual inflation rate (the rate at which prices increase/ the value of money declines) is in the 2-3 percent range. It does this by excluding the "volatile categories of food and energy" from the CPI (consumer price index- the basket of goods used to determine the rate of inflation.) He describes this methodology as "nonsense" designed to manufacture consent and camoflouge a broken economic system. In reality the actual rate is in the 6-9 percent range. That is, its in 1970s territory. This also creates this the illusion of GDP growth. When you factor in an accurate picture of inflation, the US economy has been in recession/ depression for over a decade.
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