SVP Bernie McSherry published on Financial Times Op-Ed page
July 16, 2009 |12.12 pm
In an article entitled "Investors Have to be Sure Statistics Do Not Lie", SVP Bernie McSherry Wrote
In an unsettling development that may speak volumes about the true level of confidence underlying the “green shoots” economic recovery story, many professional traders have begun to doubt the veracity of the US government’s economic reports. Recently, most new releases of economic data have been accompanied by negative revisions of prior reports; and that is causing many to question whether the public is receiving the total, unvarnished truth. Conspiracy theorists abound on Wall Street and the current theory holds that a desire to unlock consumer spending is causing the government intentionally to skew the numbers. If that belief were to spread, the very difficult task of restoring confidence would be made much harder. I can already hear some of you scoffing at the whole idea. After all, the government does not lie, does it?
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