Thursday, April 1, 2010

Pretend, Extend, and REVISE

Show them a big upward revision while quietly downwardly revising previous data. I have observed this practice across the spectrum of government released economic data since 2001. It's all part of the pretend, extend, and revise strategy.

Manufacturers' New Orders: Nondefense Capital Goods Excluding Aircraft:


Source: census.gov

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