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Experts warn about the 'crumbling infrastructure' of federal government data

(www.npr.org)
99 points xnx | 1 comments | 15 Mar 25 03:41 UTC | HN request time: 0s | source
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KennyBlanken ◴[15 Mar 25 04:46 UTC] No.43370057[source]▶
Destroying agencies that collect statistics is a "feature", not a bug.

Why deal with unemployment, declining GDP, etc when you can just shut down the agency figuring out how many people are unemployed and where the GDP is going?

Better yet, outsource it to the guy who gave you $10M in campaign donations or bought your crypto coins and then wink-nodded at you, and give him a $50M contract to do something the feds were doing for $20M - and he lies to make you look better. Win-win-win...

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IceHegel ◴[15 Mar 25 05:20 UTC] No.43370177[source]▶
In the middle of Covid, the Federal Reserve changed the definition of M2 money supply at the exact moment of the largest increase in the money supply to date for unknown reasons. It made all comparisons between pre- and post-change numbers difficult, probably a coincidence.

USG is an independent organism that is under attack and it is fighting back however it can. Remember, it's always looking out for itself, not for you.

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scrollbar ◴[15 Mar 25 05:50 UTC] No.43370301[source]▶
FUD / Citation required. Quick google search reveals you are incorrect (components of M2 shifted, and portions moved between M1 and M2, but M1 is a subset of M2, so there is no significant change to total M2 supply before and after).

Also Federal Reserve is not part of the US Government.

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MegaButts ◴[15 Mar 25 05:57 UTC] No.43370330[source]▶
https://fred.stlouisfed.org/series/M2SL

> Before May 2020, M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000) less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market funds (MMFs) less IRA and Keogh balances at MMFs.

> Beginning May 2020, M2 consists of M1 plus (1) small-denomination time deposits (time deposits in amounts of less than $100,000) less IRA and Keogh balances at depository institutions; and (2) balances in retail MMFs less IRA and Keogh balances at MMFs. Seasonally adjusted M2 is constructed by summing savings deposits (before May 2020), small-denomination time deposits, and retail MMFs, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.

EDIT: Of course since M1 is what really changed, M2 is effectively the same.

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1. houston_Euler ◴[15 Mar 25 06:06 UTC] No.43370360[source]▶
The comment you replied to was correct, as M1 was expanded to include savings deposits.

Here's a link to a Q&A about the change, and the relevant explanation.

"3. Why are savings deposits being recognized on the H.6 statistical release as a transaction account? Posted: 12/17/2020

A. As announced on March 15, 2020, the Board of Governors reduced reserve requirement ratios on net transaction accounts to 0 percent, effective March 26, 2020. This action eliminated reserve requirements for all depository institutions and rendered the regulatory distinction between reservable “transaction accounts” and nonreservable “savings deposits” unnecessary. On April 24, 2020, the Board removed this regulatory distinction by deleting the six-per-month transfer limit on savings deposits in Regulation D. This action resulted in savings deposits having the same liquidity characteristics as the transaction accounts currently reported as “Other checkable deposits” on the H.6 statistical release.

To account for the change in their liquidity characteristics, savings deposits will be recognized as a type of transaction account on the H.6 statistical release"