SPLAAAT – It was the kind of report that make data great again

ZeroHedge/Michael Every/5-13-2021

“It was the kind of report, like Friday’s payrolls, that Make Data Great Again. One that also shows the whole economic number forecasting business is a silly game when it really matters. Yes, you can tell me what a number will be when that number doesn’t change anything: you just can’t tell me what the number will be when it changes everything. Perhaps the most telling part of the report was that used car prices are surging. As any economist will tell you, as soon as you drive a car off the dealer lot, the price goes down because of the ‘lemon’ factor. Well, a giant lemon meringue custard pie just hit them all in the face. ‘Forecasters are struggling to get a handle on the economy,’ says Bloomberg charitably. You think?”

USAGOLD note:  A slightly (smile) irreverent review of last Friday’s payroll number and Wednesday’s consumer price report courtesy of Rabobank’s Michael Every……

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