Friday, August 7, 2009
Wasn't me I promise
(Bill King of the majestic The King Report gets plagiarized.-AM)
The King Report
August 6, 2009 – Issue 3565
Thanks to Barry Ritholtz for alerting us that Asian Times’ reporter Chan Akya lifted our explanation of GDP math in our August 3 missive and printed it virtually verbatim in his Aug. 5 column without attribution. If anyone is passing our letter to this cad, please stop.
4Chan (The Asian Joe Biden) Akya: …if Q4 08 gross domestic product (GDP) was 100 units, and Q1 09 was reported at minus 5.5% and Q2 09 GDP was expected to be minus 1.5%, the expectation was for GDP of 100 units minus 5.5%, or 94.5 units, minus 1.5%, or 93.08 units. But, with the revision of Q1 09 GDP to minus 6.4%, the Q1 GDP units become 100 minus 6.4%, or 93.6 units. So Q2 is minus 1%, or 92.664 units. In other words, the figures were worse, not better, than expected.