Home > General Comment > Good news from the Ministry of Plenty…

Good news from the Ministry of Plenty…

big-brother-bw

But actually, he thought as he re-adjusted the Ministry of Plenty’s figures, it was not even forgery. It was merely the substitution of one piece of nonsense for another. Most of the material that you were dealing with had no connexion with anything in the real world, not even the kind of connexion that is contained in a direct lie.

*****

Political Pen’s citation of this quote from George Orwell has indeed hit the mail on the head. The bullshit piles up faster than one can shovel. And, the press has completely abandoned any pretense of oversight and fact-checking.

From the New York Times:

WASHINGTON (AP) — Construction spending in September posted a better-than-expected performance, powered by the largest jump in housing construction in more than six years. The advance spurred hope that the battered housing sector is starting to turn around and will provide support for the overall economy as it struggles to emerge from the worst recession since the 1930s.

August report:

The U.S. Census Bureau reported that construction spending during August 2009 was estimated at a seasonally adjusted annual rate of $941.9 billion, 0.8 percent above the revised July estimate of $934.6 billion. The August figure is 11.6 percent below the August 2008 estimate of $1,066.1 billion. During the first eight months of this year, construction spending amounted to $629.5 billion, 11.9 percent below the $714.3 billion for the same period in 2008.

September report:

The Commerce Department said Monday that total construction spending was up 0.8 percent in September, much better than the 0.3 percent drop that analysts had forecast. The August performance was revised down to show a 0.1 percent drop rather the 0.8 percent gain first reported.

Total construction spending grew to $940.28 billion at an annual rate in September. It was the first increase after four straight declines but still left construction spending 13 percent below the level of a year ago.

For the record, we would like to point out the following:

  • Initial August estimate from the Ministry of Plenty Department of Commerce: Annual construction spending was $941.9 billion
  • The new September Estimate from the Ministry of Plenty Department of Commerce: Annual construction spending was $940.28 billion

$940.28 billion minus 941.9 billion equals -$1.62 billion

In other words, the Ministry Department’s estimate for construction spending went down not up.

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