Pollyanna Creep: Economy Worse Than We Know
Posted in Business, Investments, Observations on Jul 11th, 2008
A fellow value investor brought a remarkable article to my attention: Hard numbers: The economy is worse than you know by Kevin Phillips of Harper’s Magazine.
Ever since the 1960s, Washington has gulled its citizens and creditors by debasing official statistics, the vital instruments with which the vigor and muscle of the American economy are measured. [...]