Government workers failed to produce at least three economic reports this week alone due to the shutdown. Other reports went missing in action last week.
Economic Reports Not Produced
- New Home Sales: Dec 27
- Advance Retail Inventories: Dec 28
- Advance Wholesale Inventories: Dec 28
- Advance Trade: Dec 28
- Construction Spending: Jan 3
- Factory Orders: Jan 7
- International Trade: Jan 8
- Wholesale Trade: Jan 10
- Retail Sales: Jan 16
- Business Inventories: Jan 16
- Housing Starts: Jan 17
Do we really need government employees compiling these reports or is this something private industry should do?
Mike “Mish” Shedlock
Nearly $90 million for Trump golf trips as of 12/1/18. Glad we’re cutting costs somewhere.
… because “private” corporate run statistical analyses would be so much less prone to corruption than the government issued propaganda.
Maybe the problem isn’t who does the reports but how effective the rule-of-law is in guaranteeing honesty. If the supreme judiciary is appointed by the state, which is propped up by corporate America, then by definition the political system is closer to an autocracy.
Redfin provided December real estate report. About 25% of new new home have had their prices slashed compared with about 18% in December ’17. In general price is rising more slowly, but volume is declining. This is classic topping behavior.
Reporting on arbitrary nonsense, for no purpose whatsoever beyond attempting to sucker the dim into believing government, and”investors,” can, and should, manage something none of them will ever even begin to understand, isn’t exactly one of a proper government’s enumerated powers, as outlined by The Founders, to put it that way.
The issue is what report is needed and which report is not needed. I presume that if the reports were produced by private enterprise they would be sold — and no longer public. It is difficult to make investment decision when basic information is not available.
I agree with Snow_Dog. I trade and invest not on government manipulated reports but on the markets themselves. Another comment was made about enumerated powers which is also to the point. State powers have been usurped by the a federal government and there is endless, and needless, waste as well as corruption.
And who even knows how accurate these government reports are anyway?
And, this is why I am surprised that the shutdown has lasted this long. People have started realizing that much of what government does isn’t really needed.
You said it brother.
Get rid of that stupid Homeland Security