As it appears GDP will be seasonally adjusted again, I find myself wondering just one thing: why? Earlier GDP figures showed the US economy on the brink of recession for the first two quarters of this year. Now, with more fudging going on, who knows what it will show. The government appears to be following the Hollywood mantra: if you can bend perception enough, it will become reality. Look no further than the Federal Reserve, which continues to raise expectations of higher interest rates in the second half of this year, in hopes of inducing faster growth. Of course, the age of propaganda is now upon us; where perception trumps the truth, until that is, the house of cards burns and falls, which it always does. The US consumer responded to lower gas prices not by spending but by saving, despite predictions from investment banks and the Fed. They […]