In it to Win it, Released on 6/4/25

John, founder of Shadow Government Statistics, joins Steve Barton on In It To Win It to reveal how U.S. economic data has been distorted since the 1980s. He explains that government-reported figures on inflation and GDP are manipulated using methods like substitution and hedonics, significantly understating the real cost of living and economic hardship. According to John, actual inflation is over 10% and true unemployment hovers around 27.5%, with official statistics designed to serve political ends, particularly around election times. John also warns that the Federal Reserve’s pandemic-era policies unleashed decades’ worth of monetary stimulus in just months, setting the stage for prolonged inflation. He urges Americans to protect themselves by investing in physical gold, calling it a shield against the economic instability ahead. This interview is a wake-up call for anyone seeking to understand the true state of the U.S. economy.

00:00 Introduction
00:25 Global Economic Outlook
03:16 International Economic Impacts
03:56 Professional Background and Origins of Shadow Stats
13:41 Inflation Methodologies: Substitution, Hedonics, and Weighting
18:26 CPI Weighting Practices
19:02 Unemployment Data Discrepancies
23:58 Overview of GDP
27:03 Reliability of GDP Inputs
31:19 Comparative GDP Analysis
34:20 Economic Forecast
36:31 Strategic Advice for Individuals
37:36 Monetary Policy and Fiscal Challenges
45:52 Gold Pricing and Inflation Metrics
46:58 Conclusion and Contact Information

Walter J. “John” Williams has been a private consulting economist and a specialist in government economic reporting for more than 30 years. His economic consultancy is called Shadow Government Statistics (shadowstats.com). He tracks and reports economic data using the methodologies formerly used by government agencies prior to changes being made to make the reported data look more favorable, and estimates the true, real inflation rate to be significantly higher than the reported rate. He received a bachelor’s degree in economics, cum laude, from Dartmouth College in 1971, and was awarded a master’s degree in business administration from Dartmouth’s Amos Tuck School of Business Administration in 1972, where he was named an Edward Tuck Scholar.

  economy, gold, inflation