Quote:
Originally Posted by Snake Doctor
These are the kinds of things I've been pointing out for months here, but every time I do the euro brigade comes in and tells me that I'm looking at the wrong numbers, or that the government falsifies the numbers, or that the government hides the true data, or that they have a line graph that corresponds to a pie chart that ties into a Nostradomus prediction that the US economy is going to collapse and by this time next year we'll all be begging the chinese for lead based paint to feed to our kids.
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yes, they constantly changed the way how the stats are counted and thats a proof.
eg. latest job report:
"The U.S. October employment report came better than expected. But the details of this report are much weaker than the headline figure of 166K non-farm jobs created in October.
First, the establishment survey says that 166K jobs were created in October. But the household survey says that 250K jobs were lost in October. Which survey is more correct? In years when the economy was growing rapidly (2004 to mid 2006) the household survey was showing faster growth than the establishment survey. Indeed at that time supply-side commentators used to write every other month (in the op-ed page of the WSJ and other media outlets) that the household survey was a much better measure of the employment situation as the establishment survey did not fully reflect self-employment and new smaller businesses. But whether one survey or the other is a better proxy of the true state of the labor market depends on when you are in the business cycle. When the economy is growing fast ? as in 2004-2006 - the household survey may overestimate job creation; when the economy is slowing down ? like now - the establishment survey may overestimate job creation and the household survey may be a better measure. So today the household survey tells us that 250K jobs were lost in October."
from:
http://www.rgemonitor.com/blog/roubini/