More Lies
I wrote a few weeks ago that our country is doomed because the entire government and financial system has been built on a foundation of lies. Every day the government or some special interest group publishes a set of data points meant to convince the ignorant masses to throw more money for the bank to feed on or show them how the bureaucrats make their lives better.
An industry group that keeps tracks of real estate transactions has just admitted (discovered) the data on home sales has grossly overstated the true housing environment by as much as twenty percent over the last five years. These are the same people that have been pointing toward their data as evidence of a housing recovery.
http://www.nashuatelegraph.com/news/943311-196/national-home-sales-have-been-overstated-for.html
Why do corrections to economic data always be for the worse?