Posted on 07/31/2013 5:57:57 AM PDT by Mad Dawgg
WASHINGTON (AP) -- The U.S. economy grew from April through June at a seasonally adjusted annual rate of 1.7 percent, as businesses spent more and the federal government cut less.
(Excerpt) Read more at hosted.ap.org ...
EXACTLY! See my similar post #18.
Regards.
That's an interesting mathematical point. Are they calculating the Q2 improvement from the "revised down" number from the previous quarter? If that's the case, it would be more mathematically accurate to not revise up or down, but just compare the new number with the one that was given for the previous quarter.
We're now in wonderland, where the economy always goes up because it's lowered to something it can go up from.
Bingo.
And right now the Fed needs good headlines to raise rates.
We’re now in wonderland, where the economy always goes up because it’s lowered to something it can go up from.
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That’s true, except in the case of the weekly unemployment reporting where the previous week’s number is always revised up, so that the current week’s number will tend to look like a drop.
Regardless of how they do it, this economic ledgerdemain reduces the impact of political bad news. Right now, Yahoo Finance is touting “Better US Economic Growth” as one of their headlines. This is the type of “wonderland” headline they wanted from their friends in the media.
there are large scale revisions done all the time so it’s not just this administration. Here is a list of them back to 1997:
http://www.bea.gov/national/an1.htm
Thank you, that’s good objective feedback and I respect that. Facts and accuracy are always good to get into the conversation.
Having said that, this administration has cleary been bending and distorting facts for political ends. It’s not just economics; there are numerous scandals and constant dissembling that have characterized this administration from day one. Just yesterday Art Laffer was actually laughing out loud at some of the new and obviously absurd ways of calculating the GDP that were introduced. So while other administrations have allowed revisions to economic calculations, I doubt that they were so conveniently blatent as the ones Obama has been fostering.
Regards.
Take away quantitative easing, and what does it look like?
I'll go with "the 1930s"...
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