Post by unlawflcombatnt on Feb 13, 2007 16:18:24 GMT -6
GDP growth expected to be revised downward to 2.2%
Analysts say that GDP growth for the fourth quarter will likely be revised downward from 3.4% to 2.2%. This revision is due to a factor in quarterly GDP estimates that many people (including myself) were not aware of. The final trade balance results for the 4th quarter aren't even available when the 1st estimate of GDP is published. The BEA simply "guest-imates" what the trade balance will be. Not surprisingly, they always over estimate it, to make the economy look better and encourage the markets to invest more and consumers to spend more.
What's even more deceitful is that prior to today's Trade Balance report, they already anticipated a downward 3rd quarter GDP revision to 2.5%. However, since the trade balance was worse than predicted, they now anticipate a downward revision to 2.2%. I wonder how long they've known that their original overestimate of 4th quarter GDP growth was wrong. Did they know it the very day it was originally published?
It appears any so-called "honest" reporting from the BEA is overpowered by their desire to disseminate optimistic propaganda.
The BEA is a subdivision of the Dept. of "Commerce." That name should really be changed to the Dept. of "Commercials." Apparently "optimism" is more important than "honesty." They're not trying to report on the economy.
They're trying to sell the economy.
"Optimism" is not a substitue for "honesty."
Our government needs more analysts, and less sales people.
Can't anyone in our worthless, Corporatocratic government report anything without putting a "spin" on it?
Analysts say that GDP growth for the fourth quarter will likely be revised downward from 3.4% to 2.2%. This revision is due to a factor in quarterly GDP estimates that many people (including myself) were not aware of. The final trade balance results for the 4th quarter aren't even available when the 1st estimate of GDP is published. The BEA simply "guest-imates" what the trade balance will be. Not surprisingly, they always over estimate it, to make the economy look better and encourage the markets to invest more and consumers to spend more.
What's even more deceitful is that prior to today's Trade Balance report, they already anticipated a downward 3rd quarter GDP revision to 2.5%. However, since the trade balance was worse than predicted, they now anticipate a downward revision to 2.2%. I wonder how long they've known that their original overestimate of 4th quarter GDP growth was wrong. Did they know it the very day it was originally published?
It appears any so-called "honest" reporting from the BEA is overpowered by their desire to disseminate optimistic propaganda.
The BEA is a subdivision of the Dept. of "Commerce." That name should really be changed to the Dept. of "Commercials." Apparently "optimism" is more important than "honesty." They're not trying to report on the economy.
They're trying to sell the economy.
"Optimism" is not a substitue for "honesty."
Our government needs more analysts, and less sales people.
Can't anyone in our worthless, Corporatocratic government report anything without putting a "spin" on it?