Thursday, December 29, 2016

misc. note – corrections of blog posts

In the July 2, 2010 post I explained my policy with regard to changing the content of posts after the day the posts have been published on the blog.

While I change bad links and incorrect formatting without notification, I believe that changing blog posts’ content warrants disclosure.
Over time I have made corrections to content on various blog posts.  These corrections generally have been for reasons of (factual) accuracy and – for better readability – to correct typos and/or incorrect extraneous wording.
A list of these corrections is seen below.  This list indicates the posts corrected and the reason for such corrections.  The error as seen in the original posting is seen in red:
Corrected On 11-21-11 (factual)
Re: 11-21-11 WSJ post that says “today, November 10, 2011”
Corrected On 3-12-12 (wording)
Re: 3-7-12 post Dynamics…desc: Highlight and discusses various dynamics and risks inherent in the Federal Reserve’s asset portfolio.
Re: 7-24-09 post Why…desc: The unemployment issue current facing
Corrected On 4-8-12 (factual)
Re: 3-9-12 post U-3 and U-6…(charts updated as of 2-3-12)
Corrected on 4-29-12 (factual)
Re: 4-27-12 post on Ben Bernanke…On Wednesday, January 25
Corrected on 5-25-12 (factual)
Re: 4-16-12 post on Durable Goods New Orders…This February value is 202,568 ($ Millions)
Corrected on 6-1-12
Re: Added post disclaimers on STLFSI posts of May 25, 2012 & May 18, 2012
Corrected on 6-10-12
Re: missing endquotes on 10-19-09 post: “ ”The remarkable thing about the stock market is “the absence of volume associated with it, Hendry said.
Corrected on 6-11-12 (typo/additional word)
Re: disclaimer on June 14, 2010 & July 16, 2010 posts: …However, as those familiar with this blog are aware, I do not agree with the many of the consensus estimates and much of the commentary in these forecast surveys.
Corrected on 6-11-12 (incorrect word)
Re: on June 18, 2010; December 13, 2010; June 19, 2011; and December 15, 2011 Livingston Survey posts: an S&P500 forecast
Corrected on 6-19-12 (typo/additional word)
Re: WSJ Econ Forecast May 2012 on May 15, 2012:  I found various the following excerpts to be notable
Corrected on 8-6-12 (typo)
RE: 3 Critical Unemployment Charts of July 7, June 2, and May 6  :  On April 24 I wrote a five-part blog posts
Corrected on 9-13-12 (various)
RE: “Real Median Family Income & Poverty Measures For 2010” on 9-14-11 : change title to “Real Median Household Income & Poverty Measures For 2010” and change “Real Median Family Income was $49,445 in 2010” to“Real Median Household Income…” as well as “As seen on the chart on page 8, Real Median Family Income…” to “As seen on the chart on page 8, Real Median Household Income…”
Corrected on 10-7-12 (various)
RE:  Milton Friedman “Free To Choose Videos” February 14, 2011:  originally “For those unaware, Milton Friedman’s entire “Free to Choose” PBS television series of 1980 is available at the following links.  These are the entire episodes, all of which (with the exception of Episode 6) are via Google Video:” ; change to “Milton Friedman’s entire “Free to Choose” PBS television series of 1980 is listed below:”
Corrected on 10-21-12 (factual)
RE: “Real Median Family Income & Poverty Measures” September 20, 2010: remove “Family” from title, first and second paragraphs; and replace with “Household”
Corrected on 10-21-12 (factual)
RE: “U.S. Real Household Income Growth Chart” September 6, 2011:  remove “Family” from first and second paragraphs and replace with “Household”
Corrected on 10-21-12 (factual)
RE: “U.S. Real Mean Household Income Growth Chart 1967-2010” September 14, 2011:  remove “family” from the first and second paragraphs and replace with “Household”
Corrected on 11-30-12 (factual)
RE:  “St. Louis Financial Stress Index – November 22, 2012 Update” November 23, 2012:  re: “This chart was last updated on November 21, incorporating data from December 31,1993 to November 16, 2012 on a weekly basis.  The November 21, 2012 value is -.184” – change November 21 to November 22
Corrected on 1-3-13 (punctuation – missing end quotation mark)
RE:  “Deloitte ‘CFO Signals’ Report 3Q 2012 – Notable Aspects” – September 27, 2012:  re: As seen in page 2 of the report, “Eighty-five CFOs responded during the two weeks ended August 24. More than 75% are from public companies, and 80% are from companies with more than $1B in annual revenue.
Corrected on 1-7-13 (extra words)
RE:  “Average Hourly Earnings Trends” of December 10, 2012 and November 5, 2012:  Re:  “This next chart depicts the same measure on a on a “Percentage Change From A Year Ago” basis.”
Corrected on 1-31-13 (incorrect date)
RE: “Velocity Of Money – Charts Updated Through October 26, 2012” of October 29, 2012:  RE: “All charts reflect quarterly data through the second quarter of 2012, and were last updated as of October 26, 2012.”
Corrected on 2-11-13 (extra word)
RE: “Recession Probability Models” of January 22, 2013:  RE: “For instance, as seen in the the January 14 post…”
Corrected on 3-8-13 (wrong date)
RE: “Long-Term Charts Of The ECRI WLI & ECRI WLI,Gr. – March 1, 2013 Update” of March 1, 2013:  RE: “These charts are on a weekly basis through the March 1 release, indicating data through March 1, 2013.”
Corrected on 3-15-13 (missing end parenthesis)
RE: “Long-Term Charts Of The ECRI WLI & ECRI WLI,Gr. – March 8, 2013 Update” of March 8, 2013:  RE:  “ECRI, March 5, Recession in the Yo-Yo Years (provides a link to a 17-page ECRI report dated March 2013 titled “The U.S. Business Cycle in the Context of the Yo-Yo Years)”
Corrected on 4-11-13 (extra words)
RE: “Corporate Bond Yields And OASs” of March 14, 2013:  RE: extra words in “A chart of the The BofA Merrill Lynch US Corporate Master Index Option-Adjusted Spread (OAS), with a value of 1.45%:” as well as “A chart of the The BofA Merrill Lynch US High Yield Master II Index, with an effective yield of 5.92%:”
Corrected on 4-24-13 (incorrect spelling of name)
RE: “S&P500 Earnings Estimates For 2013 & 2014” of March 26, 2013 & February 25, 2013:  RE:  “As many are aware, Thomsen Reuters…”
Corrected on 8-9-13 (incorrect date)
RE: “Recession Probability Models” of July 5, 2013:  RE:  “Data Source: FRED, Federal Reserve Economic Data, Federal Reserve Bank of St. Louis: Marcelle Chauvet and Jeremy Piger; U.S. Recession Probabilities [RECPROUSM156N]; accessed June 4, 2013: 
Corrected on 8-12-13 (double negative)
RE: “Zillow Q2 2013 Home Price Expectations Survey – Summary & Comments” of May 9, 2013:  RE: “The most “bearish” of these forecasts is that of Gary Shilling’s prediction of a -5.05% cumulative price decrease through 2017.”
Corrected on 8-29-13 (improper plural)
RE: “Corporate Profits As A Percentage Of GDP” of May 31, 2013; March 28, 2013; and January 30, 2013:  RE: “While there are many reasons as to why this is so, from a going-forward standpoint I think it is important to recognize both that such a notable conditions exists…”
Corrected on 10-22-13 (lack of hyphens)
RE: “VIX Monthly And Weekly Charts Since 2000” of October 21, 2013; RE: “Here is the VIX Monthly chart, depicted on a LOG scale, with price labels as well as the 13– and 34–month moving averages, seen in the cyan and red lines, respectively:” and “Here is the VIX Weekly chart, depicted on a LOG scale, with price labels as well as the 13 and 34 week moving average, seen in the cyan and red lines, respectively:”
Corrected on 11-14-13 (wrong date)
RE: “The November 2013 Wall Street Journal Economic Forecast Survey” of November 12, 2013; RE:  “The October Wall Street Journal Economic Forecast Survey was published on November 7, 2013.”
Corrected on 11-18-13 (misspelled name)
RE: “Janet Yellin’s Nomination” of October 14, 2013; RE: “The nomination of Janet Yellin to lead the Federal Reserve has generated much recent commentary.” Also: “While I may comment at length upon her nomination at a later time, for now I would like to highlight, for reference purposes, a few excerpts in the October 10, 2013 New York Times article titled “Yellin’s Path From Liberal Theorist to Fed Voice for Jobs.”
Corrected on 12-17-13 (misspelled name)
RE: “Janet Yellin’s Speech of June 2, 2011 – Notable Excerpts” of June 9, 2011; RE:  “On June 2, Janet Yellin…”
Corrected on 12-17-13 (misspelled name)
RE: “Finance Reform Bill – A Few Comments” of July 19, 2010; RE:  “I included the quote from Janet Yellin…”
Corrected on 12-17-13 (misspelled name)
RE: “President Obama’s Remarks on Ben Bernanke” of August 28, 2009; RE:  “With regard to this ‘out of the box thinking’ and and ‘bold, persistent experimentation’ I would like to refer to a speech Janet Yellin…”
Corrected on 1-9-14 (incorrect date)
RE: “The January 2, 2014 value is -.927:”
Corrected on 4-1-14 (incorrect date)
RE: “Durable Goods New Orders – Long-Term Charts Through January 2014” of February 27, 2014; RE: First, from the St. Louis Fed site (FRED), a chart through December, last updated on February 27, 2014.  This value is 224,975 ($ Millions) :
Corrected on 7-27-14 (omission of information)
RE: “Standard & Poor’s S&P500 Earnings Estimates For 2014 And 2015…” of May 21, 2014; RE:
-From a “top down” perspective, operating earnings of $148.18/share
-From a “top down” perspective, “as reported” earnings of $144.60/share
Corrected on 8-11-14 (wrong date on post)
RE:  “Velocity of Money…” post of April 30, 2014:  RE: wrong date under one chart; “Data Source: FRED, Federal Reserve Economic Data, Federal Reserve Bank of St. Louis; accessed January 30, 2014:”
Corrected on 9-2-14 (wrong date on post)
RE:  “Updates Of Economic Indicators July 2014” post of July 21, 2014:  RE: missing date; “Here is a chart of the ECRI WLI,Gr., from Doug Short’s July, 2014 post…”
Corrected on 9-4-14 (wrong date on post)
RE:  “Chicago Fed National Financial Conditions Index (NFCI)” post of August 27, 2014:  RE: wrong date; “The ANFCI chart below was last updated on August 27, incorporating data from January 5,1973 to August 22, 2014, on a weekly basis.  The August 27, 2014 value is -.48:”
Corrected on 11-27-14 (clarification)
RE:  “Long-Term Charts Of The ECRI WLI & ECRI WLI,Gr. – November 21, 2014 Update” post of November 21, 2014:  RE: “… ECRI has reiterated the view that the U.S. economy is currently in a recession…” changed to “…ECRI had reiterated (but no longer believes per the November 19, 2014 interview) that the U.S. economy was in a recession…”
Corrected on 11-27-14 (missing parenthesis)
RE: “U.S. Dollar Decline – September 2, 2014 Update” post of September 2, 2014:  RE: “…by the dashed light blue line):”
Corrected on 11-27-14 (missing parenthesis)
RE: “U.S. Dollar Decline – August 1, 2014 Update” post of August 1, 2014:  RE: “…by the dashed light blue line):”
Corrected on 11-27-14 (missing parenthesis)
RE: “U.S. Dollar Decline – July 1, 2014 Update” post of July 1, 2014:  RE: “…by the dashed light blue line):”
Corrected on 11-27-14 (phrase corrections)
RE: “Money Supply Charts Through September 2014” post of October 29, 2014: RE:” The second shows M2…” changed to “The two charts below show M2…”
Corrected on 11-27-14 (phrase corrections)
RE: “Money Supply Charts Through August 2014” post of September 29, 2014: RE:” The second shows M2…” changed to “The two charts below show M2…”
Corrected on 11-27-14 (phrase corrections)
RE: “Money Supply Charts Through May 2014” post of June 17, 2014: RE:” The second shows M2…” changed to “The two charts below show M2…”
Corrected on 2-11-15 (date correction)
RE: “Velocity Of Money – Charts Updated Through July 30, 2014” post of July 30, 2014: RE: “Data Source: FRED, Federal Reserve Economic Data, Federal Reserve Bank of St. Louis; accessed January 30, 2014:” changed to “Data Source: FRED, Federal Reserve Economic Data, Federal Reserve Bank of St. Louis; accessed July 30, 2014:”
Corrected on 3-25-15 (date correction)
RE: “Durable Goods New Orders – Long-Term Charts Through January 2015” post of February 26, 2015: RE: “First, from the St. Louis Fed site (FRED), a chart through December, updated on February 26, 2015.  This value is 236,147 ($ Millions):”
Corrected on 3-27-15 (date correction)
Re: “Corporate Profits As A Percentage Of GDP” post of November 25, 2014:  RE: “As one can see from the long-term chart below (updated through the first quarter)…”
Corrected on 3-27-15 (date correction)
Re: “Corporate Profits As A Percentage Of GDP” post of August 28, 2014:  RE: “As one can see from the long-term chart below (updated through the first quarter)…”
Corrected on 6-12-15 (date correction)
Re: “Total Household Net Worth As A Percent Of GDP 4Q 2014” post of March 12, 2015:  RE: “The following chart is from the CalculatedRisk blog post of March 12, 2014…”
Corrected on 8-18-15 (incorrect link and accompanying comments)
Re:  “The August 2015 Wall Street Journal Economic Forecast Survey” post of August 13, 2015:  RE: “The headline is “WSJ Survey:  Economists Expect Fed Rate Liftoff in September.” Link and excerpted comments changed.
Corrected on 8-31-15 (wrong date)
Re:  “Corporate Profits As A Percentage Of GDP” post of May 29, 2015:  RE: “As one can see from the long-term chart below (updated through the fourth quarter)…”
Corrected on 8-31-15 (missing parenthesis)
RE: “The U.S. Economic Situation – April 23, 2015 Update” post of April 23, 2015:  RE: “For long-term reference purposes, here is a chart of the Dow Jones Industrial Average since 1900, depicted on a monthly basis using a LOG scale (updated through April 17, 2015, with a last value of 17826.30):”
Corrected on 8-31-15 (missing parenthesis)
RE: “The U.S. Economic Situation – May 22, 2015 Update” post of May 22, 2015:  RE:  For long-term reference purposes, here is a chart of the Dow Jones Industrial Average since 1900, depicted on a monthly basis using a LOG scale (updated through May 15, 2015, with a last value of 18272.56):”
Corrected on 8-31-15 (missing parenthesis)
RE: “The U.S. Economic Situation – June 22, 2015 Update” post of June 22, 2015:  RE: “For long-term reference purposes, here is a chart of the Dow Jones Industrial Average since 1900, depicted on a monthly basis using a LOG scale (updated through June 19, 2015, with a last value of 18014.28):”
Corrected on 8-31-15 (missing parenthesis)
RE: “The U.S. Economic Situation – July 23, 2015 Update” post of July 23, 2015:  RE: “For long-term reference purposes, here is a chart of the Dow Jones Industrial Average since 1900, depicted on a monthly basis using a LOG scale (updated through July 17, 2015, with a last value of 18086.45):”
Corrected on 12-11-15 (incorporate previously unavailable updated chart)
RE: “December 2015 Duke/CFO Global Business Outlook Survey” post of December 10, 2015:  RE: put in December chart that was unavailable on 12/10/15
Corrected on 12-14-15 (wrong year referenced)
RE: “2015 Estimates For S&P500 Earnings & Price Levels” post of December 15, 2014:  RE: “The article also mentions that among the investment strategists, average 2014 GDP growth is 3.0%.”
Corrected on 12-23-15 (wrong date referenced)
RE: “Chicago Fed National Financial Conditions Index” post of December 16, 2015:  RE: “The NFCI chart below was last updated on December 16, 2015 incorporating data from January 5,1973 to December 11, 2015, on a weekly basis.  The December 16, 2015 value is -.60:
Corrected on 2-11-16 (wrong date referenced)
RE: “The January 2016 Wall Street Journal Economic Forecast Survey” post of January 14, 2016:  RE: full-year 2017:  2.3%
Corrected on 2-18-16 (missing word)
RE: “10-Year Treasury Yield – Long-Term Chart As Of January 7, 2015” of January 7, 2015:  RE: “As a reference, here is a long-term chart of the 10-Year Treasury yield since 1980, depicted on a monthly basis, LOG scale, with price labels:”
Corrected on 5-17-16 (extra letter)
RE: “Monthly Changes In Total Nonfarm Payrolls” of February 9, 2016:  RE: “The third charts shows a long-term chart…”
Corrected on 5-26-16 (wrong title of report)
RE: “S&P500 2015, 2016, 2017 & 2018 EPS Estimates” of April 19, 2016:  RE: “The following estimates are from Exhibit 9C of ‘The Director’s Report’…”
Corrected on 5-26-16 (wrong date referenced)
RE: “Chicago Fed National Financial Conditions Index (NFCI)” of May 18, 2016: RE: The St. Louis Fed’s Financial Stress Index (STLFSI) is one index that is supposed to measure stress in the financial system.  Its reading as of the May 12, 2016 update (reflecting data through May 5) is -.919.
Corrected on 5-31-16 (wrong date referenced)
RE: “Corporate Profits As A Percentage Of GDP” of March 28, 2016:  RE: “As one can see from the long-term chart below (updated through the third quarter)…
Corrected on 8-22-16 (wrong date and quarter referenced)
RE: “Walmart’s Q1 2017 Results – Comments” of May 19, 2016:  RE:  “I found various notable items in Walmart’s Q1 2017 management call transcript (pdf) dated February 18, 2016.  (as well, there is Walmart’s press release of the Q4 results(pdf) and related presentation materials)”
Corrected on 10-18-16 (wrong date referenced)
RE:  “Disturbing Charts (Update 24)” of October 13, 2016:  RE: “The Chicago Fed National Activity Index (CFNAI) 3-month moving average (CFNAI-MA3)(last updated 10-7-16):
Corrected on 11-16-16 (wrong date referenced)
RE:  “Monthly Changes In Total Nonfarm Payrolls – August 8, 2016 Update” of August 8, 2016:  RE: “The second chart shows a long-term chart of the same month-over-month change in total nonfarm payrolls (reports of January 1940 through the present report of July 2016):
Also:
RE: “Lastly, the fifth chart shows the total nonfarm payrolls number on a “percent change from year ago” basis from January 1940 – July 2016:”
Corrected on 11-16-16 (wrong date referenced)
RE:  “Monthly Changes In Total Nonfarm Payrolls – May 9, 2016 Update” of May 9, 2016:  RE: “The second chart shows a long-term chart of the same month-over-month change in total nonfarm payrolls (reports of January 1939 to the present report of April 2016):
Also:
RE:  “Lastly, the fifth chart shows the total nonfarm payrolls number on a “percent change from year ago” basis from January 1939– July 2016:”
Corrected on 12-14-16 (wrong date referenced)
RE: “Chicago Fed National Financial Conditions Index (NFCI)” of December 7, 2016:  RE:  Data Source: FRED, Federal Reserve Economic Data, Federal Reserve Bank of St. Louis; accessed December 2, 2016:
Some of the above corrections have been made after I received reader comments alerting me of the issues.  I appreciate such notifications, and ask that if one spots factual inaccuracies, typos and/or bad links, please notify me of such via email message to economicgreenfield@gmail.com

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