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Townhall
Finance
The
Top 7 Lies of Obam-a-CON-omists… So Far
By John Ransom
Aug 13, 2013
There
they go again: while admitting to their lie about first quarter GDP,
government economists are finding new ways to lie about second quarter
GDP.
While
all of the attention for market-watchers has been on
will-they-or-won’t-they taper at the Fed, the real story GDPof the year
is the
fact that the Commerce Department just downgraded GDP growth once
again, in at
least a partial revision of the lie they first told last winter.
And
lost in the official revisions to GDP and the revisions to revisions
and the revisions to revised revisions, is the story of how ordinary
people are
struggling. And lost is the way they
want ordinary folks to stay. Why? Because politicians are getting ready
for
another round of reckless spending.
The
tape doesn’t lie, they say in the stock market, but this government
finds ingenious ways to lie every day about the economy as Main Street
languishes.
If
Mark Twain said that there were lies, damned lie and statistics, I
would
only add a fourth category: government statistics.
More
specifically government statistics put out by Obama economists.
First
quarter GDP was revised downward from an initial reading of 1.7
percent to 1.1 percent, a revision amounting to a whopping 35 percent.
Even
Republican pollsters got better margin of error against Obama in 2012.
I
know what you are thinking: These are the same honest
O’bam-a-con-O’mists
who sold America Obamacare as a deficit reduction measure-- a measure
that
would decrease healthcare costs, improve healthcare, wash your car and
make the
seas part so Al Gore could walk to Europe instead of taking his jet.
Thus,
we should just give them the benefit of the doubt like stock traders
do.
Well,
if this stock market ever tries to trade just on real fundamentals-
like it used to- the new cash-induced highs that we’re told are the new
normal
could crash, as they normally do when taken of the Fed’s cash-drug
abruptly...
Read
the rest of the article at Townhall Finance
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