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To: Proud_Infidel who wrote (5405)	10/31/2005 1:11:44 PM
From: All Mtn Ski	Respond to of 5867

I'm referring to the "spin" from the government regarding their numbers. After every job report, you have the White House economic advisor giving their spin on the figures and that is the "sound bite" that makes the rounds on the news programs. Have you ever heard that individual ever say anything negative about jobs or the economy, even in 2000-2002? That is were there is no factual transparency. Walmart's sales figures I believe and are not "revised" two times over a few months before they are considered final. Any number or figures coming from a political entity, which the government certainly is one, is going to be biased, spun and twisted to meet their purposes, one purpose of which is to keep America spending regardless of the imbalances that result (ie no savings, Warren Buffet's "sharecropper society", etc). I mean, its like the war in Iraq. Now the administration says we are in there to fight Al Quada, well, they weren't there before we invaded, doesn't that mean that Al Quada is in Iraq BECAUSE of the US invasion and that we caused Iraq to be overrun with terrorists? Oh that's right, this administration doesn't make any mistakes and certainly doesn't lie about little things like WMD. Now the line is that Al Quada was there and we invaded Iraq to remove Al Quada. The administration must think the citizens of America are pretty stupid, and they may be right. A-M-S

To: Proud_Infidel who wrote (5405)	10/31/2005 1:47:39 PM
From: All Mtn Ski	Respond to of 5867

Some opinions on the GDP report: Real disposable income fell in third quarter, and consumers desperately tried to keep up spending by drawing down savings. Did anyone on Wall Street notice? Hidden behind the ‘strong’ GDP figures is an ongoing consumer recession. Buried beneath the mass of heavily manipulated economic statistics, the Bureau of Economic Analysis notes that real* disposable income fell at an annual rate 0.9% in the third quarter. It went from a $8,128.7 billion annual rate in the second quarter to $8,110.5 billion in the third quarter. Already heavily indebted, consumers resorted to draining cash from their bank accounts to maintain prior spending levels. The BEA says the amount of negative savings reached an annual rate of $100 billion in the quarter – or put another way, -1.1% of income. This is duly confirmed by the continuing drawdown in the M1 money supply we have seen for a number of weeks now. The BEA also issued a stern note of caution about reliability of their GDP figures: The Bureau emphasized that the third-quarter "advance" estimates are based on source data that are incomplete or subject to further revision by the source agency. The third-quarter "preliminary" estimates, based on more comprehensive data, will be released on November 30, 2005. The GDP report is built upon other economic reports, some of which contain estimates or even include special adjustments for the effect of hurricanes on the economy. In some cases, those other economic reports essentially ignore the impact of the hurricanes until more reliable information is available. With the economy being affected by hurricane damage over a three month period, it may take a while for more accurate information to become available. Not surprisingly given the special aid to hurricane victims and reconstruction, government spending rapidly accelerated to a 7.7% rate in the third quarter. This spending may further add to the misconceptions about just how strong the economy really is. wallstreetexaminer.com And a great piece by Mish on the GDP with lots of links to the report and calculations: globaleconomicanalysis.blogspot.com A-M-S