This is the same game that they play with the weekly unemployment figures.
New single-family home sales fell slightly in October and the government revised sharply lower its estimate for the prior month’s sales, casting a small shadow over what has been one of the brighter spots in the U.S. economy.
The Commerce Department said on Wednesday sales dropped 0.3 percent last month to a seasonally adjusted 368,000-unit annual rate.
Government data for new home sales are subject to substantial revisions. Indeed, the Commerce Department cut its estimate for sales in September by 20,000 to a 369,000-unit rate.
The data leaves the pace of new home sales just below the pace reported in May, suggesting little upward momentum in the market for new homes.
Note to the government: You cannot govern if the populace assumes every utterance is a lie. Note to media: See note to government.
We have real trouble here. Not only do we have a crappy economy, run by buffoons, we also have the problem of not being able to see exactly how damaged the economy actually is.