Who is going to trust the government reporting once Trump has "yes men" in these critical positions?
And is the idiot really surprised that hiring is weak after the spending cuts, tariff increases and general chaos he has caused?
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This is part of the campaign against credibility. If we can't believe the people we used to believe, who should we believe? Where do we get the information we need to conduct our lives?--Hiram
The market does not usually like uncertain data... :-O
There is nothing certain about economic data. Conclusions are based on incomplete data which itself changes over time, hence the revisions. W hat the markets are looking for isn't data that is true or false, because it understands those are unattainable even meaningless goals. What it does want is credibility, numbers we can all agree to accept. Numbers all of us can have confidence in, Credible numbers. But once that credibility is taken away, what replaces it? Where is the alternative? Will the vacuum get filled? What will happen is that various private entities will come up with their own numbers, which won't be compiled transparently and won't be disclosed except on terms of advantage. Most of us will have to trade and act blindly. The levelled playing field government statistics are intended to provide us, will be unlevelled and not to the advantage of most of us.--Hiram
I subscribe to a lecture service, "The Great Courses". They have a new series on financial frauds and panics. I watched the one on Ponzi schemes the other day. One of the points the prof made was that Ponzi's scheme succeeded as long as it did was due to a lack of information. Back then corporations were not required to issue financial reports. Many did not, and many that did issued only the sketchiest of numbers. Is that the era to which we are returning?==Hiram
Thankfully the payroll companies publish some data.
I don't know what the normal investor is thinking right now?
Record stock / crypto prices in the faces of deep debt and chaos.
A friend said. There is just too much money and too few "good" investments.
My view: that cash is our HUGE national debt...
Crypto feels like a ponzi scheme to me... Maybe I am just jealous of their gains... :-)
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