Three Things: Negative Revisions, Balance Sheet Rot, “Bre-lief” Rally

by Lance Roberts
Real Investment Advice

Negative Revisions Coming

Despite mainstream economists hopes that somehow “this time will be different,” the ongoing massaging of economic data through seasonal adjustments to obtain better headlines did not translate into actual prosperity. Of course, “reality” is a cruel mistress and despite ongoing hopes and overstatements, “fantasy” eventually gives way.

The chart below shows the S&P 500 index with recessions and when the National Bureau of Economic Research dated the start of the recession.

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