Recession Worse Than Prior Estimates, Revisions ShowRead the article. It further supports the figures in my previous post.
One thing I noticed in the article is the huge amount of mistakes made by the experts. Some of the tell-tales:
... shrink more than twice as much as previously estimated...
... initial figures tended to underestimate...
... further along than anticipated...
... exceeding the prior estimate...
... began sinking sooner than previously projected...
... almost 2 percentage points more than previously reported...
... boosted its adjustments for the underreporting and non-reporting ...
... government changed the way it accounts...
Marvelous.
Anyone get the feeling these high-paid "experts", these people upon whose conclusions millions of lives are adversely affected or changed forever, are just shooting in the dark? That they are just guessing?
Welcome to the club.
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