Originally Posted by
Black Heart
US returning to a textbook definition of recession,
No problems GS issued a report recently. The report showed that "Goldman's Current Activity Indicator" suggested a recession , as indicated in a chart, "Exhibit 8".
Within an hour or so of the report being published the graph, "exhibit 8" was "revised". This time the last down slope stopped short of the 0% CAI and even showed a small uptick/omitted the last down tick. The dark line was cut short, the pale blue line was unadjusted, indicating a further data point on the graph, which makes a mockery of any "revision".
However the text in the report suggesting:
"Although EM assets remain in the cross-hairs – and the outlook there remains tenuous in spots - growth concerns have impacted the market’s view of US and European growth as well, pushing our market-based measure of US growth risk to new post GFC lows (see Exhibit 8)."
Remained and again mocked the "revised" image.
One wonders that if the Ameristan "recession" can be white washed so easily, whether joe public will ever notice there was one and subsequently, continue to live in la la land oblivious to financial mayhem circling below their comfort horizon.
I wonder if my bank can revise my savings account balance, to add a couple of million, as easily.
Goldman Sends Out Chart Showing U.S. In Recession, Promptly Retracts It | Zero Hedge