Barron’s ran with Tuesday’s No Goldilocks Economy in the weekend print edition:
"RAFAEL PALMEIRO ROCKED the baseball world after testing positive for steroid use. Now we see with no small degree of skepticism, a stream of improving macro-economic data. Color us unconvinced.
Many of the key releases have been fraught with
misleading headlines, obscuring much weaker data beneath, and last
month was no different.
From inflation to the federal deficit, to
unemployment rates, to industrial output, to recent gross domestic
product (and its revisions) — nearly every data point comes with an
When we look back at this period of economic home
runs, we will recall it as the season of steroids. Like major leaguers,
the data is on the juice."
The first line is their’s (wish I could take credit for it).
Economic Data May Be Juiced, Too
WEDNESDAY, AUGUST 3, 2005