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The Fog of War and the Markets Part II

The Data Crisis — Why Investors Are Losing Visibility Into the Economy

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Bill Cara
Mar 12, 2026
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Economic data used to be the foundation of smart investing. But that foundation is cracking. Fewer people respond to government surveys, so agencies must guess using statistical models. Those guesses often get revised—sometimes by hundreds of thousands of jobs—long after markets have already moved. Investors now face three major risks: misreading the ec…

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