Everybody reads The New York Times. And today, the Times told the incredible story. Here it is, in the Times' own words -- "In the blink of an eye this week, they made the size of the American economy grow by $560 billion." Yes, the government actually changed the accounting method to show that the US economy was bigger than it was a day ago. But the government isn't fooling the markets. In truth, the US's growth isn't going anywhere. But remember, Obama wants the statistics to show growth, and he wants the figures to show growth even if the figures have to be manipulated!
Below we see the benchmark 10 year Treasury bond sinking, sinking.
Next we see the yield on the 10 year Treasury shooting up to 2.7%. Because of the phoney "better GDP figures," investors think the Fed can now cut back on QE, and this will cause interest rates ... Log in or subscribe to continue reading.
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