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The "Hard" Data Doesn't Lie
Over the last several months, “hard” economic data have been telling a much different story than “soft” economic data. On the one hand, soft surveys such as the ISM manufacturing index have pointed to robust economic growth. On the flip side, hard economic data have been disappointing. We previously pointed out Goldman's view of the "soft" surveys relatively weak ability to project growth, but as BofAML warns, even before the government shutdown cut off the flow of hard economic data, they were tracking just 1.6% qoq saar for third quarter growth. Confidence is already taking a nose-dive as the shutdown continues and BofAML warns of the potential for significant and lasting shocks to growth if things do not improve quickly.
Via BofAML
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Control the language and you control the mind. It's just another step to control the data since it is comprised of a mathematical language.
While the hard data "doesn't lie" usually it would appear in many cases it can, especially without investigative actions. Case in point Muddy Waters and China.
And even then "hard" activity doesn't necessarily mean the activity is for productive ends either.
Indeed. Don't believe all the mark to fantasy accounting or the "recovery" talk? It's just your lying eyes.
As the saying goes, "You can say anything you want with statistics."
Despite all this megadata, no one really knows the score. It's as if we are floating in a sea of numbers that we can't form into a cohesive story. I consider the source for economic news - NPR could find a silver lining in a mushroom cloud over Manhattan whereas FOX scoffs at anything hinting at improvement.
+1
MACRO DATA UNCORRELATED SINCE 2010 with Financial markets.....thanks to Central banks...
I believe in only one "hard" data point- $85 Billion per month.
The Fed's been slipping banks money under the table as well for years, the 85 is just the turtle head
Consider the source, any source, look for a vested interest... than look around your major cities. Do you actually see the positves or negatives in the real world?
Hard data is revenue minus expenses to equal profit.
Soft data is GAAP that figure out ways to make it look like expenses didn't happen so profit actually exists.
Our Wall Street economic system can't exist on hard data, because you can't fudge hard data. How is Tesla going to be worth $200 on the hard data of actually selling a million cars a year in four years?
Long Bank lobby and lawyers
Ohh common we always knew that such thing will be happening
Best Way to Hedge Against Political and Economic Uncertaintybawney fwank likes hard data
And by 'existing home sales' do you mean pre or post 'seasonal adjustments'?
My hard data is shiny, doesn't rust, doesn't smell like ass or burn below 1064.43 °C.
"if things do not improve quickly"
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you mean like balancing the budget?
jb
By shifting the coordinate system all the hard data in the world becomes shifted as well. The coordinate system is the value of the dollar and this is set by the inflation rate tmultiplied by the time, Because this is lied about all other "hard" numbers become meaningless.
85% of all men overrate the size of their penis.
Ladys in need give me a shoutout, I'm in the top 15%
Surely Fed board member Rosengren had access to hard data when he stated that the FOMC decision to not taper was related to incoming data weakness. So whay then does Zero Hedge accuse him of lying?