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On revisions, episode IV (A New Hope?)

May 28, 2009

Durable goods +1.9% vs 0.5%! Durables ex-transportation +0.8% vs -0.3%! Initial jobless claims 5k under expectations! The headlines looked pretty good at 8:30 am, until you took a look at the revisions. Indeed, today's economic numbers serve as yet more examples of creating the false perception of growth by changing the past. Durable goods orders were […]

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