Liars

From the Bureau of Lying Statistics

Yesterday (December 8, 2017) the Bureau of Labor Statistics released its Employment Situation Summary for November 2017.  The BLS reported that Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the… Read More ›

Oh Oh It’s Magic!

A few years ago, I gave a short explanation of how government economists are fudging their statistics.  I explained that GDP numbers are just estimates, and they don’t really matter anyway: … government economists make estimates of GDP. Then, they… Read More ›

Who pays federal income taxes?

Remember when Mitt Romney said that 47% of Americans don’t pay taxes in 2012 ?  And how he got pilloried for it in the press, because everyone knows that the rich don’t pay taxes, right? It turns out that Romney wasn’t that far… Read More ›

The War on Cash

Dr. Kenneth Rogoff, PhD from MIT, says that the Federal Reserve should reduce the amount of cash in the economy to fight crime: It’s time to reduce the amount of physical cash floating around the globe to help combat tax… Read More ›

Something’s rotten in Detroit.

And I’m not talking about the Lions, Pistons, Red Wings, and Tigers.  The St. Louis Fed has reported that domestic auto production rose in February to 337,900 vehicles.  I was curious, so I looked up domestic auto retail sales and… Read More ›