TSX:AX.PR.E - Post by User
Comment by
Torontojayon Aug 15, 2024 11:24pm
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Post# 36181900
RE:RE:Strong data...
RE:RE:Strong data...
Frankie10 wrote: Very good point. Amazing how the revisions are given so little oxygen. Very manipulative indeed.
Then there is the Canadian recession - negative gdp per capita for 2 years now - which has been papered over by mass immigration (to keep gdp flat = "no recession")...
and everyone is just going about their day paying no attention to the ground moving benethe their feet. It's honestly astonishing... I'm glad I'm not the only one seeing this.
The US is accomplishing the same thing as Canada when it comes to immigration. The unemployment rate should actually be a lot higher when you account for the "true" labour force. Don't forget that gdp was positive in the US during the GFC when they backdated the recession to Dec 2007 when all the revisions in Dec 2008 showed the US economy had actually contracted. The NBER didn't announce a recession had started until exactly one year later! This is why it's important to look at the revisions because they tell you important inflection points for the economy. Unfortunately, Wallstreet ignores the revisions because the stock market already celebrated the "good" news on the initial release date. I would not be surprised that in one years time, they will backdate the recession in the US to have started sometime around now or possibly even earlier. It's the revisions that are important.