A Softening of the Economy?

For John, BLUF:  The view of one person on how the economic numbers don't aadd up to a continuing strong economy.  Nothing to see here; just move along.

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Sketchy Economic Data About to Surface, White House Proactively Seeds MSM Narrative

From The Conservative Tree House, by Sundance, 31 January 2022.

Here is the lede plus two:

For those who have been following closely, the economic data releases over the past several months have been almost impossible to reconcile from a Main Street perspective. Additionally, the scale of inflation is skewing everything that stems from dollar valuation.

CTH is certain the fourth quarter GDP statistic (+6.9%) is useless and was an outcome of several flawed metrics:  (1) the import data was misrepresented and not accurately deducted (supply chain issue); (2) the value of building inventories was over calculated as an outcome of inflation; and (3) the value of all economic activity was subsequently skewed because the economic outputs (goods and services) were recorded at higher prices.

It has been our estimation that Main Street economic activity was substantially less than the data discussed by financial pundits.

The article suggests thzt the White House knows that the economy is softening, and is trying to crezte an alternate story.

This is important, because a soft economy would not be helpful to Democrats going into the Fall Mid-term elections.

Hat tip to the InstaPundit.

Regards  —  Cliff