Lying with Statistics

There's nothing so easy as Lying with Statistics (which should be required high school reading).  Government statistics have been so skewed that it is difficult to see if any of them have any resemblance to economic reality.  Financial Armageddon features a good example regarding the supposed gains in September consumer spending. From Alternative Universe, which concludes:

The truth? The entire gain was "seasonal adjustment." All of it. In other words, in actual dollars there was not only no increase there was a net decrease in sales of approximately five percent - not annualized either, month-over-month!

Put that in your economic pipe and smoke it.  

Indeed. It's best not to believe the hype.  For more examples, the Shadow Government Statistics site is an excellent source.