H/t reader squodgy:
Massaging and Fudging Statistics has always been a wonderful way to hide the truth or simply deceive the people.
Here’s an example. World trade in finished goods is trundling along at the bottom, fact.
Put that on a graph and it shows how the picture is following the 2008 financial collapse, which was a rehearsal.
Remove the 2007-2009 sector of the graph, as they have done here, and the current stagnation is a mere hiccup, not a harbinger. There is a steady trend downward and they are reaching the stage where it can no longer be hidden.
Move along, nothing to see here, move along. The truth has been corrected.
Recession Watch: US Freight Drops to Worst Level since 2010, “Excess of Capacity” Crushes Rates
China Containerized Freight Index remains near record low.
Similarly, the well known BDI which tracks future shipping freight bookings, is still in the doldrums although it is slightly better than at the beginning of the year, but so it should be, we’ve just had summer, but look at the 6 year graph and it is stagnant, look at the 3 month graph and the recovery looks marvellous, but that is bullshit because it is still only trundling along the bottom. Statistical massaging & fudging.
Finally, the best barometer for infrastructure activity is Caterpillar, and even Rothchild’s Reuters can’t offer anything here, they are cluthching at straws while not facing the truth, we are just too much in debt.
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