Submitted by Tyler Durden on 04/16/2012 23:44 -0400
In one of the most coherent take-downs of the government's data gatherers, economists, reporters, and the general investing public that soak up the propaganda spewed forth by the former, TrimTab's CEO Charles Biderman destroys today's 'Advance' retail sales, and crushes the Census Bureau's process. Needing little additional comment, we can only hope that the 'ignorance is bliss' approach of the mainstream media and self-serving talking heads is at least questioned by the broad investing public when they hear the sense that Biderman speaks with regard to the antiquated methodologies used to gather data and the factual destruction of Wall Street Journal "I am the law" headlines straight off the government's press releases.
The simple fact is that while anyone suggesting the government's data may not be accurate is dismissed as a tin-foil-hat-wearing conspiracy theorist (Goldman Sachs client 'muppetry', high-frequency-trading liquidity destruction, rehypothecation and shadow-banking deleveraging, LTRO-Stigma, and real European sovereign balance sheet aside for example), when faced with the facts - the unadulterated numbers - it is hard to argue with tough reality; leaving only the shrug, 'money-on-the-sidelines', 'trend-is-your-friend', 'retail not participating yet', self-fulfilling mutual masturbation that is now become our virtuous circle of reporting, government data, and sell-side economists.
http://www.zerohedge.com/news/ignorance-bls?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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