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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?


To: Jim Willie CB who wrote (921)6/29/2002 10:28:48 AM
From: stockman_scott  Read Replies (1) | Respond to of 89467
 
***Global: House of Mirrors

Stephen Roach (New York)

Lest I be accused of piling on, read no further if you’re looking for the next WorldCom. I don’t have a clue. But I do know that Corporate America is not alone in cooking its books. Washington statisticians seem poised to join the restatement sweepstakes with a stunning rewrite of the recent performance of the US economy. So much for the boom!

Each July, when many of us head to the beach, the guys with the green eyeshades are hard at work in Washington. They are compiling the so-called benchmark revision of the national economic statistics -- an annual restatement of recent economic history based largely on more complete (and presumably more accurate) samples of underlying activity. This particular benchmark revision is slated to be released on 31 July. Mark that day on your calendar.....***

morganstanley.com

btw, I'll do some checking on gold for you...=)