John
Williams'
Shadow Government Statistics
Analysis Behind and Beyond Government Economic Reporting
Archived Commentaries Primers & Reports Search Text

These various reports are each devoted to a single topic.  Most are open to the public, but any which require an SGS Subscription will be marked with an Subscription Required.

Primers

Goverment Economic Reports: What You've Suspected but Were Afraid to Ask.

Series Master Introduction
Employment and Unemployment
Federal Deficit Reality
Consumer Price Index
Response to BLS Article on CPI Misconceptions
Gross Domestic Product

Special Reports

No. 414: Hyperinflation Special Report 2012    January, 2012
An Analysis of Withheld Income & Employment Tax Receipts    March, 2011
Consumer/Household Liquidity - Special Report    September, 2009
Depression Special Report    August, 2009
Money Supply - Special Report    August, 2008

Reporting Focus Issues

No. 348: Labor Conditions and Revisions    February, 2011
No. 340: 2010 Financial Statements of the U.S. Government    December, 2010
No. 325 CPI, PPI, Production, Household Income    September, 2010
No. 313: Second-Quarter GDP and Revisions    July, 2010
No. 282: Federal Government 2009 GAAP-Accounting    March, 2010
No. 276: Reporting Focus: January Employment and Benchmark Revision    February, 2010
State-by-State Broad Unemployment Rate Comparisons    July, 2009
Indications of Serious Error in Current Government Economic Reporting    April, 2009
Benchmark Revision to Nonfarm Payrolls & Great Depression Indicators    February, 2009
December 2008 - GAAP-Based 2008 Federal Deficit    January, 2009
November 2008 - Economic and Systemic Crises in Historical Perspective    November, 2008
September 2008 - Poverty Report    September, 2008
August 2008 - GDP Benchmark Revisions    August, 2008
May 2008 - Evidence of Manipulation of Key Current Headline Data    June, 2008
Payroll Employment Benchmark Revision and Perils of Mimicking (ADP & ISM)    February, 2008
GAAP Financial Statements of the U.S. Government for Fiscal Year 2007    January, 2008
Revisiting U.S. Housing Data — Worst Downturn Since Early 1980s?    November, 2007
Some Perspective on Historical U.S. Economic Downturns and Financial Market Panics    October, 2007
Annual Income Variance Analysis    September, 2007
Annual GDP Revisions and the SGS Alternate Measure    August, 2007
Misused Statistical Models and Resulting Market Misperceptions    July, 2007
Money Supply M3 Revisited    May, 2007
Loan Delinquency/Default Rates as Predictors/Indicators of Business Activity    April, 2007
Federal Reserve’s Flow of Funds and Foreign Holdings of U.S. Treasuries    March, 2007
Payroll Employment and Alternate Measures Indicate Bleak Labor Market    February, 2007
U.S. Government’s Fiscal Condition Continues Its Collapse    December, 2006
Reality Check on Home Prices    November, 2006
Flow of Funds Shenanigans The Productivity “Miracle”    October, 2006
Income Variance Data Signal Economic Troubles Ahead and Household Income Numbers Suggest GDP Fraud    September, 2006
SGS Alternate Data: Money Supply M3 Continuation; Consumer Inflation at 11.0%; Alternate GDP Shows Annual Contraction    August, 2006
Flow of Funds Accounts of the United States    July, 2006
Housing Starts and Housing Statistics    June, 2006
New Orders for Durable Goods    May, 2006
The Producer Price Index    April, 2006
Money Supply M2 as a Leading Economic Indicator    March, 2006
The Purchasing Managers Survey    February, 2006
Help Wanted Advertising and Alternate Measures    January, 2006
December 2005 Edition Supplement (Re: FY2005 Treasury GAAP Accounting)    December, 2005
November 2005 Edition - Supplement (Re: M3)    November, 2005
Standard and SGS Alternate CPI Measures - Part I    October, 2005
Income Variance/Dispersion as a Predictor of Long-Term Economic Trends    September, 2005
Short-Term Credit Measures    August, 2005
Financial and Trade-Weighted U.S. Dollar Indices    July, 2005
Money Supply, Part II    June, 2005
Money Supply and the SGS Early Warning System    May, 2005
An Alternate Measure of Non-Farm Payrolls    April, 2005
Retail Trade and Food Services (Retail Sales)    March, 2005
Initial Claims for Unemployment Insurance    February, 2005
The Fed’s Index of Industrial Production    January, 2005
Trade Balance in Goods and Services    December, 2004
Consumer Confidence Measures Financial Media Sentiment    November, 2004

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