October 13, 2010

Government Reports Unreliable, Misleading

[From article]
"Last week, Buffett said, "we are still in a recession" when the subject came up on CNBC.

That was right after the National Bureau of Economic Research declared that the recession officially ended in June, 2009.

In declaring the recession's end, NBER provided an enormous amount of material for late night comedians, cartoonists and even folks like Buffett, who can't seem to get their stories straight.
[. . .]
The Journal last week explained that household debt is declining not because people are paying their bills. Instead, debt is receding because of defaults -- people can't pay their bills, so this debt is being wiped off the books."

http://www.nypost.com/p/news/business/good_september_job_market_not_good_CldpeZTuzWnAdNjlRYsULM

Good September job market not good enough
John Crudele
New York Post
Last Updated: 4:24 AM, September 30, 2010
Posted: 12:09 AM, September 30, 2010

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