By Dan Celia for Townhall.com | Image from Townhall
Despite a wealth of information at our fingertips, I’m wondering how we will ever get a true assessment of current economic conditions. There was a time when you could look at economic data and related indicators, along with technical information, and understand where the economy and the markets were heading. The correlation between these factors lined up to give us some sense of our economic future.
Yet, in today’s economy, this is very difficult to do. A leading reason is that we have no clear and accurate information to look back on. When we survey the 2008-2016 time frame, we see eight years full of false positives — namely, technical data circulated and promoted endlessly by an ideologically driven Bureau of Labor and Statistics, Department of Commerce and Labor Department, plus a majority of Wall Streeters with a firm bias in the same direction.