With regards to statistical reporting, I have never found a delay to result in better than expected news. With Christmas season in full swing, it would appear that the powers that be will try to protect the season of increased consumer consumption and prevent an emotional response to the delayed report. If the report contained good news, the normal response would be to release numbers early and get a bump on the retail spending. With a tentative release of December 23rd, the spending cycle will be all but complete. John Williams of shadowstats.com reported:
A Christmas Present from Uncle Sam. I called the U.S. Treasury, today (December 5th), to confirm the scheduled December 15th release of the 2011 Financial Statements of the U.S. Government, the GAAP-based (generally accepted accounting principles) accounting of the government’s financial operations for the 2011 fiscal year ended September 30th.
The advice received was that the release has been delayed until Friday, December 23rd, which is as close to Christmas Eve as the government can get. Given the way prior releases of these statements have been handled, though, the 23rd still has to be considered as a tentative release date, and I offer no comment as to any implications of the new timing and the potential for burying unhappy political news. Beyond an initial analysis of the GAAP financial statements, once released, I shall include an assessment of the key elements of the government’s finances as part of the updated Hyperinflation Report. The timing of that report will be discussed in the next regular Commentary.
John Williams’ December 4th Overview:
> – There Is No Sudden Economic Recovery, Just Bad-Quality Numbers and Deteriorating Labor Conditions
> – Latest Jobs Level Still Well Below Pre-2007 and Pre-2001 Recession Levels
> – November Unemployment: 8.6% (U.3), 15.6% (U.6), 22.6% (SGS)
> – Money Supply M3 Annual Growth at 2.7% in November
> – Potential Euro Disintegration Is Nothing Like the Looming Dollar Collapse