🕐13.03.12 - 04:27 Uhr

SLIPPERY GDP NUMBER SLITHERS AWAY




March, 2012
Sliding in through the Out Door ..and much to my surprise
The Slippery GDP Number Slithers Away The underlying theme for 2012 according to Americas Keynesian leadership is that the "worst is now behind us!" Everybody of merit and worth agrees the recession has been stopped in its tracks, if you believe their company line. Wait, theres even more; as they would also have you believe that America is now in a sustainable economic recovery.

And when pressed, the numbers are trotted out; or are they? As 2011 came to a close the much ballyhooed GDP numbers were quietly revised downward from 3.5 percent to 2.8 percent, and at the last legitimate count stood at approximately 2.2 percent; until vigorously massaged once again upwards to 3.0 percent.

Imagine my surprise when I read in Reuters "the economy grew 1.7 percent in 2011 after expanding 3 percent the prior year". I noticed how Reuters buried this detail in the 14th paragraph of their (unexcerpted) article.

That is what has become known as advocacy journalism; which appears to be the kind of journalism that is now the norm.

So the real news is that last years GDP is down considerably from a year ago.

.. More
Larry Myles Larry Myles Reports
My intention is to inform, never to annoy.

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