Incredible How Little Facts Are Omitted By Mainstream Media

This was the headline today: GDP surges! Up 1.7% from last month's dismal 1.1%.

In fact, last month's initial reading was 1.8%. Had that remained unchanged, today's GDP would have actually shown a decline in GDP from 1.8% to 1.7%.

But, the revised GDP for last month was a dismal 1.1%.

It will be interesting to see the revised GDP number next month, and how it is reported.

Two quarters of less than 2% growth suggests movement toward a recession.

Tomorrow we will see the fictional weekly jobless report.

And Friday, the equally fictitious monthly unemployment number. I can hardly wait.

As I mentioned to a reader via e-mail, my non-Bakken highlight of the week is seeing how the mainstream media reports the jobless numbers.

I was wondering why the market took off today: the Fed can't use today's numbers to argue for tapering.

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