Don’t trust government numbers…

because government has an incentive to lie.  From zerohedge.com:

The unemployment rate plunged to 7.8 percent in September, its lowest level since Barack Obama took office in 2009. In addition, the Bureau of Labor Statistics made big revisions to data from previous months, showing huge increases in the number of jobs being created over the last three months. Total employment from the “household survey” also showed an increase of 873,000 jobs last month, the biggest one-month jump since June of 1983.

Not only has the unemployment rate gone down, but the report also undercut one of the key criticisms of previous drops in the number—that it was because the “participation rate” went down. That rate has actually gone back up, which means unemployment is down because people are actually getting work, not because they’ve stopped looking. Public sector jobs also went up, as did the average number of hours worked per week.

This report looks so good for President Obama that conspiracy theorists are already alleging that the fix is in. And not just random anonymous cranks, but supposedly serious business people, like former General Electric CEO Jack Welch.

Rick Santelli of CNBC, noting that the rate has dropped below the magical number of 8 percent, said,  “You can let America decide how they got there.” When one side is convinced that something smells rotten, you know it’s good news for the other guy.

The unemployment numbers are fake.  The GDP numbers are fake.  The CPI numbers are fake.  This is year five of the Greater Depression, and things are going to get a lot worse before they get better.  To get anything resembling the ‘real’ numbers, you have to go to someplace like www.shadowstats.com.

 

 

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Categories: Depression, Government Shenanigans, Government Statistics, Unemployment

2 replies

  1. I know logic dictates that this sham cannot continue, but at every turn it seems that somebody steps up to bat with a new or bigger plan to sweep it further down the road for someone else to sort out a more complex problem; all in an effort to look like “they” (politicians) actually deserve to have a job running the country…Mulligan?

  2. Ben, all we need to do is elect ‘our guy’ and then he will change everything….

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