Every government reported number leading up to the re-election of Obama will be revised dramatically lower over the coming months and years. You will not be told by the MSM. The revisions will be a footnote on page 45 of their press release. The country has been in recession since June. That is a fact only revealed by John Hussman, Zero Hedge, Mike Shedlock and ECRI. The false GDP readings will be revised to negative numbers two years from now. Do not trust anything the government says or reports. It is nothing but lies and misinformation.
The US Government Just “Adjusted” Away $40 Billion In Real Disposable Income
Submitted by Tyler Durden on 11/30/2012 09:43 -0500
Perhaps the Bureau of Economic Analysis was hoping that today’s cornucopia of ugly income and spending data would be enough for those who keep track of the US government’s Department of Truth shennanigans and ignore the meat behind the numbers. Whatever the reason, the real story in today’s Personal Spending data was not the consumer weakness, but the unceremonious revision of historical data, which as the chart below mysteriously whacked away a whopping $40 billion in real (i.e., inflation adjusted) disposable income. Because as the chart below shows, somehow, somewhere starting in March and continuing through the last month just before the election (the September data was released on October 29 or a week before Obama’s reelection), $40 billion in cumulative disposable income evaporated. Where it went, and/or why it had been counted in the first place is anyone’s guess. But one thing is certain: 0.25% of annualized GDP was just whacked away. One wonders: how many more such retroactive revisions will we see before reality and economic propaganda myth are finally superimposed?
Source: St. Louis Fed