Is this true?

From: [e-mail] - view profile
Date: Thurs, May 29 2008 12:02 pm
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If the Bureau of Labor Statistics still calculated inflation the way
it did in 1980, we\'d be showing negative GDP growth since late 2004
and only a quarter or two of positive growth since 2001 (http://
www.shadowstats.com/alternate_data). Instead, the BLS modified the way
it calculates inflation in the 1980\'s and 1990\'s, removing most of
home price increases from the CPI in the 1980\'s. This allowed a huge
expansion of credit, especially mortgage credit, effectively goosing
the GDP through inflation. A lot of this inflation was exported, but
globalization and the higher savings rates of our trading partners
kept many prices in check.

Where to, now?