Read more on this subject: Economy – Economics USA
News Story Source: By David Stockman
So when a big trend or condition is negative and unsustainable, you generally can't even get a glimpse of it from the so-called "high-frequency" weekly, monthly and even quarterly data on which the financial press and its casino patrons thrive. And that's not merely because most of the data from the government statistical mills is heavily massaged and modeled and often "adjusted" beyond recognition over 3-5 year intervals of statistical revision.
Beyond that, however, even medium term trends get largely ignored. That's because the purpose of economic and financial data today is to facilitate daily (and hourly) trading in the casino—not inform long-term investors about underlying trends, conditions and prospects.
The investor class of yore, in fact, has largely been destroyed by the last 30-years of monetary central planning and the Wall Street deformations it has fostered—-meaning that, increasingly, headline reading algo-traders and trend-foll
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