Wednesday, July 27, 2011

So, Who's Making These "Estimates"?

One has to wonder if these economists that were polled are nothing more that shills for the administration. If not, how do you explain this:

U.S. Durable Goods Orders Unexpectedly Sink

New orders for long-lasting goods fell 2.1% in June from May, missing economists estimates of a 0.3% increase.

How in the hell does the actuality turn out to be -2.1% when the estimate was +0.3% unless your estimates are based on wishful thinking.

Then, of course, there's the "unexpectedly" tripe that accompanies every bit of bad economic news these days. If one is continually given news that is unexpected, shouldn't one revise one's expectations?

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