“The worst number of all is Gross Domestic Product put out by the Bureau of Economic Analysis with spending data based on a Census Bureau survey. I will bet that almost all of you viewers do not know that the initial GDP numbers are based on, and I quote, sample surveys. The Census Bureau says the estimates of consumer expenditures are based on a subsample of approximately 5,000 retail and food services firms whose sales are then weighted and benchmarked to represent the complete universe of over three million retail and food services firms.”
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