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overtheedge
Member since May 2012
680 commentaries - 6 followers

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has posted a comment on the article :

Ignoring Reality Doesn’t Help Anyone… Least of All Our Portfolios - Graham Summer - Gains Pains & Capital

It is no problem when dealing with actual hard numbers to state, "Up 5%, down 11%, only 81% of predicted, ... etc."

"Consumer spending, adjusted for inflation, was up just 0.1% in June."

This statement was nonsense from the very beginning and calls credibility into question.
#1 Consumer spending is an estimate.
#2 Rate of inflation is an estimate.
#3 "... up just 0.1% ..." is
A. statistically insignificant.
B. at least an order of magnitude more precise than the capability to measure.
C. based upon two estimates for June.
D. based upon the premise that May's figures were reliable.

Tsk, tsk, tsk. Certainly sounds like you were quoting the Fed and/or government.

Commented 4101 days ago

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Beginning of the headline :The latest policy being implemented by Governments around the world consists of simply making data points up when reality doesn’t conform to their wishes. The best example of this is China where the PMI measure erupted from the lowest level in 12 months (47.7) to 50.1. This represents the single largest month over month change for the data point in three years. This means China’s economy is now expanding rapidly after facing a liquidity crisis, systemic unrest, and economic contraction over the ... Read More

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