EXAMPLE OF MSM MISINFORMATION

7 comments

Posted on 9th October 2012 by Administrator in Economy |Politics |Social Issues

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Marketwatch, which is owned by the Wall Street Journal, which is owned by Rupert Murdoch, is essentially a mouthpiece for the status quo. They allow an occasional negative article from Paul Farrell, but they are relentlessly positive about the economy and stock market. Please note the title on the link to the Mark Hulbert article. The actual article talks about how a BEAR market will start today. Click the link and see for yourself. Talk about misleading titles. I’m sure it is just an honest mistake. Right Rupert?

Mark Hulbert

Mark Hulbert

 

 

Bull market may begin today

MORE BLS BULLSHIT

16 comments

Posted on 3rd August 2012 by Administrator in Economy |Politics |Social Issues

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The headlines are blaring that the country ADDED 163,000 new jobs in July. But somehow the unemployment rate went UP to 8.3%. The BLS continues to try and baffle the ignorant masses with bullshit. The survey portion of the employment report says 163,000 new employees. Of course this includes the old birth death adjustment of 52,000 phantom jobs from small businesses. This is versus the 5,000 adjustment last July. Interestingly, the small business association reported yesterday that their members are not hiring new employees. The BLS can do amazing things with excel spreadsheets and formulas. But they don’t actually employ people.

Let’s look at the part of the report that shows an increase in the unemployment rate to 8.3%. Here is the link for your pleasure:

 http://www.bls.gov/news.release/empsit.a.htm

Let’s see what the numbers REALLY say:

  • The number of employed people in the country FELL by 195,000!!!!!
  • The number of unemployed people in the country went UP by 45,000!!!!
  • And of course, we know that times are so good for so many people that 348,000 more fucking people just decided to LEAVE the workforce. That is very believable, isn’t it?
  • The number of working age Americans has risen by 3.7 million people in the last year and the number of employed Americans has risen by only 2.8 million, but somehow the drones at the BLS and Obama want you to believe that the unemployment rate has fallen from 9.1% to 8.3%. They must know that their audience is ignorant and uninterested in math.
  • Do you really believe that 2 million Americans VOLUNTARILY left the labor force in the last year and DO NOT WANT OR NEED a job?
  • The number of Americans participating in the workforce is now at three decade lows at 63.7%

  • On top of the fact that the number of employed people declined in the last month by 195,000, the number of part-employed people went up by 73,000. For the math challenged, this means that full time workers actually declined by 268,000 in one freaking month!!!!
  • Of the 142 million working Americans (meaning there are 101 million working age Americans not working) a full 27 million (19%) are only working part-time. These part-time workers have accounted for 20% of all the new jobs in the last year.

  • The BLS used their brilliant excel spreadsheet models to add 377,000 jobs to their number. I’m sure this won’t be reversed in two years on a Friday night, revealing that we actually lost jobs in July.

I can assure you that the MSM will tout the BLS numbers as proof of economic recovery, when the actual numbers prove we’ve entered recession.

And so it goes.

MSM IS NOTHING BUT A MOUTHPIECE FOR THE OLIGARCHS

22 comments

Posted on 26th July 2012 by Administrator in Economy |Politics |Social Issues

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What you hear from the MSM on a daily basis isn’t just sanitized. It is nothing but propaganda, sanctioned by your owners. The MSM are massive corporations that report whatever is best for their bottom line. Truth does not matter to the MSM. The purpose of the MSM is to keep the masses sedated, distracted by trivial minutia, misinformed about the true economic situation, and cowering in fear from whatever the government says we should fear today – terrorists, mad gunmen, gay marriage, Iran, Syria, global warming, etc.

The last thing the oligarchs want you to do is think, question, or seek the truth.  

 

Washington news, sanitized for officials’ comfort

Tuesday, July 24,2012

Sadly, the decline and fall of the Washington press corps continues in ways we never imagined could happen. A new form of news deception has gone viral. It has spread from the White House press corps to the campaign trail, Capitol Hill and your favorite news site.

There’s something journalists you trust haven’t told you: Those quotations you’re reading from top officials may not have been said by those officials during their interviews.

In a shameful journalistic acquiescence that we who covered presidents and politicians once considered unthinkable, reporters and editors are now letting officials who were interviewed review, approve and even alter quotations before publication.

We know about this only because of a fine article by The New York Times’ Jeremy W. Peters. On July 15, Peters did what every self-respecting Washington journalist should have done. He reported what is really happening at the intersection of the news media, policy and politics. He wrote that most major news organizations — including his own New York Times, plus The Washington Post, Reuters, Bloomberg and Vanity Fair — are yielding to demands of Barack Obama’s administration and the Obama and Mitt Romney campaigns that allow officials to, in effect, censure and sanitize their own quotations.

“The quotations come back redacted, stripped of colorful metaphors, colloquial language and anything even mildly provocative,” Peters wrote.

“They are sent by email from the Obama headquarters in Chicago to reporters who have interviewed campaign officials under one major condition: The press office has veto power over what statements can be quoted and attributed by name.”

Whether you get your news via Facebook, Twitter, smartphones, cellphones, laptops, desktops, TV, radio or even that pre-techno conveyance called newsprint, you might as well get your newsfeeds on an Etch A Sketch.

Not all major news organizations have acquiesced. The Associated Press has steadfastly refused to make any quote-clearing concessions as ground rules for interviews with officials. “It has been our standard all along,” said AP senior managing editor Michael Oreskes. “… We’d rather not use the quote at all if the price of the quote is that we have to doctor it.”

Interestingly, Oreskes was once a top editor of The New York Times and was The Times’ Washington bureau chief. If he still held that job, it is inconceivable that America’s leading newspaper would be permitting interviewees to cleanse quotes.

For decades, journalists and officials have jousted about ground rules for interviews and briefings — without yielding to quotation censorship. Back in the 1970s, some of us, including The Washington Post under executive editor Ben Bradlee, refused to attend briefings where prominent officials hid their identities by insisting they be identified only as a “senior official.”

I remember a day this reached a new height of absurdity. Henry Kissinger convened a Vietnam War policy briefing for reporters near the Western White House in San Clemente, Calif., where President Richard Nixon and his staff were vacationing. When Kissinger insisted upon being anonymously identified as a “senior official,” I (then Newsday’s Washington bureau chief) objected, telling Kissinger that, after all, two Soviet journalists were attending, so surely the American public could know his identity since everyone in the Kremlin would. But Kissinger held firm. I was about to leave, rather than accept the ground rules, when I noticed something that led me to accept his rules and stay.

The next day, my Newsday article reported a “senior official” had announced a new Vietnam policy wrinkle. The next sentence explained the official briefed a roomful of journalists, including Soviet reporters from Tass and Izvestia, plus one nonjournalist (whom I identified as): David Kissinger, 17-year-old son of Dr. Henry A. Kissinger, national security adviser to the president.

Later that day, Kissinger walked up to me and, with a rueful smile, acknowledged he couldn’t complain because I had complied with his ground rules. “Very funny,” he said, although I’m still not certain he thought it was.

Fast-forward to the Internet Age. Now bloggers from anywhere and everywhere are dishing what they are calling journalism and never has it been as important for the public to have news sites they can trust for honesty and accuracy. Yet at this very moment, America’s most trusted news organizations are so desperate to get interviews from designated news spinners that the media elites are printing things they know are not completely accurate. As when they report that Official X “said” words he never actually spoke in his interview.

It’s time for America’s most respected news media to quit polluting their own mainstreams. Or to at least slap warning labels on their quote-censored news reports.

Martin Schram writes political analysis for Scripps Howard News Service. Email him at martin.schram@gmail.com.

OOPS!!! – ONLY A SLIGHT $500 BILLION MISTAKE

13 comments

Posted on 7th June 2012 by Administrator in Economy |Politics |Social Issues

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This little story is so jammed full of examples of misinformation, criminality, propaganda and government data manipulation that I don’t know where to start. I thought my head was going to explode by the end of the story. Let’s start with the headline. It’s classic Edward Bernays at his finest. It is supposed to make the reader believe that households are cutting debt through austerity and paying off their credit card debt. The little details called facts tell the exact opposite story. The decline in household debt is completely due to mortgage debt reduction. Consumer debt SURGED in the 1st quarter. The debt decline is completely the result of foreclosures working their way like a pig through a python.

The reality is that the FEDERAL GOVERNMENT is peddling low interest auto (Ally Financial is 85% owned by YOU) and student loans to deadbeats, morons, and numbskulls by the billions. There is no austerity being practiced by the American consumer. They will go down spending with plastic in hand. The future billions in auto and student loan losses will be borne by YOU the American taxpayer.

The MSM is cheering the surge in national net worth. YIPPEE!!!! The top 1% benefitted greatly from Ben Bernanke’s stock market manipulation strategy designed to make wealthy people feel wealthier. It worked like a charm, as rich people got richer and poor people lost their houses and joined the food stamp program.

And now for the real DOOZY. How many times have you heard the storyline from MSM brainless puppet pundits that corporations have a record amount of cash on their balance sheets just waiting to be invested into the economy? I think I’ve heard that line 7 million times in the last year. Well tie me up and call me Sally. The Federal Reserve went back and double checked their numbers and it seems these corporations actually have $510 billion less cash than previously reported.

How that fuck can anyone make a $510 billion mistake, unless they were purposely lying to mislead the public into thinking things were better than they really were? Then the moron that passes for a journalist writing this story actually states that corporations have been increasing their debt load for the last three quarters and this is a good sign. Yes, less cash and more debt is always a good sign.

And the last line of the article should warm the cockles of your heart as the US government increased their debt by 12.4% in one freaking quarter. Who says things aren’t growing?

Households cut debt again in first quarter

Revised Fed data show businesses have far less cash on hand

By Jeffry Bartash, MarketWatch

WASHINGTON (MarketWatch) — American households cut their overall debt again in the first quarter and saw a $2.8 trillion increase in net wealth owing to stock-market gains — gains that have since evaporated.

The Federal Reserve, in its quarterly “flow of funds” report, said Thursday that household debt fell by a seasonally adjusted 0.4% in the first quarter. That follows a 0.2% decline in the last three months of 2011.

The central bank originally had reported that consumer debt rose in the fourth quarter for the first time since the end of the last recession.

A 3% decrease in mortgage debt more than offset a 5.8% rise in consumer credit. The drop in household debt was the 15th straight decline.

The sharp uptick in consumer credit, combined with a 6.7% rise in the fourth quarter, marked the biggest back-to-back increase since the first half of 2007. Other government data suggest the surge in consumer credit has been fueled by auto loans and student debt.

Net household worth, meanwhile, climbed by $2.8 trillion in the first quarter to $62.9 trillion, mainly because of a stock market rally earlier in the year.

Almost all of those gains have been lost over the past month, however.

The Fed also slashed the amount of cash companies have on hand after revising several years of data based on updated information from the IRS.

U.S. nonfinancial corporations had a stockpile of $1.74 trillion in cash or liquid assets at the end of the first quarter, up slightly from $1.72 trillion in the fourth quarter.

Prior to the revisions, the Fed’s data had shown that companies had a record $2.23 trillion on hand at the end of the fourth quarter.

The revised figures indicates companies are not as financially well off as prior data appeared to indicate. That could mean they have less money to invest once the economy begins to accelerate.

On the other hand, businesses have increased debt for three straight quarters, which is usually a sign that they plan to increase production in the expectation of rising demand.

Federal government’s debt climbed 12.4% — the third straight double-digit increase.

ANOTHER FALSE STORYLINE

14 comments

Posted on 5th June 2012 by Administrator in Economy |Politics |Social Issues

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It’s a shame when good analysts like the guy at Calculated Risk start perpetuating the lies and misinformation spouted by the likes of Paul Krugman and the rest of the corporate MSM. The bullshit storyline these days is about the tremendous austerity being practiced by the Federal Government and the drastic cuts in jobs and spending by our friends in Washington DC. I love a good yarn as much as the next guy and this fantasy about Federal employment cutbacks is a good one. Intellectually dishonest douchebags like Paul Krugman attempt to obfuscate the truth by lumping state, local and federal employment into one bucket and to pick a time frame of their choice to write their drivel. I prefer to go to the data directly and see what it tells me. I ran a little query on the BLS website to gather my data:

http://data.bls.gov/pdq/SurveyOutputServlet

When assessing government employment trends, I would pick August 2008 as my base month since that was the last month before the crisis. After this month everything is distorted by Obama porkulus programs, census hiring, and more bullshit programs designed to manipulate the numbers. Here are my observations:

  • Total employment was 137 million in August 2008. Today it is 133 million, a 3% decrease over the last four years.
  • Total private employment in August 2008 was 114 million. Today it is 111 million, a 2.6% decrease.
  • Federal government employment was 2,768,000 in August 2008. Today it is 2,819,000, a 1.8% INCREASE!!!! You will be happy to know that Defense and DHS increased their employee counts by 10% over this time frame.
  • There were 19.8 million state and local government drones employed in August 2008. Today there are only 19.2 million drones on the payrolls. The only reason for this miniscule reduction is because State and local governments are required to balance their budgets.

So after the worst financial crisis in U.S. history, our Federal government has increased hiring. The states and localities have chopped payroll by a whopping 3%. 

I hate to burst the bubble of all the Krugmanites and big government lovers, but there will be millions more in layoffs. The money is gone. The government pension crisis looms and states and localities have two choices – fire workers or cut pension benefits. The people will not stand for higher real estate taxes.

I can’t wait for Obama’s next jobs plan. 

The Misfiring Engine of Recovery

by CalculatedRisk on 6/04/2012 06:31:00 PM

 
 

Gad Levanon at the Conference Board makes some interesting points: Why is Employment Growth Still Disappointing and When Will it be “Normal” Again?

In a typical recovery, rapid economic growth is driven by pent-up demand for consumer durable goods, housing, and business equipment. Also, in a typical recovery the government moderately adds jobs, and economies outside of the U.S. are enjoying robust growth, which helps boost American exports and raises the revenues of American multinationals. So what’s different this time? There are several combined factors that are dragging down the U.S. economy and labor market:

1) Government spending is shrinking. The hope was that the federal stimulus would create jobs while the private sector was in recession, and that this federal stimulus would eventually wind down while the private sector would pick up. This wind-down has occurred, but the private sector is not generating enough jobs by itself yet. At the same time, state and local governments… have been cutting back for several years now … In the past year, state and local governments have slowed down their layoffs, but the number of employees in the federal government is still rapidly shrinking — down by 1.8%. Overall, the public sector has reduced its workforce for three years in a row, cutting a total of about 700,000 workers.

2) The housing market has barely started recovering, and employers in related industries are barely adding jobs. This typically strong driver of growth during expansions is missing in this economy.

3) The global economy is weak. Many countries in Europe are in recession, and the main emerging countries’ economies are significantly slowing down. As a result, U.S. exports and revenues of multinationals and overall consumer and business confidence are suffering.

4) Commodity prices are now at a much higher level than two-to-three years ago. This has caused large price increases in food, energy, and other commodity related products. In the past 2 years, as a result of the price hikes and weakness in housing, the consumption of food, gasoline, public transportation, housing, and utilities have increased by just 0.5% of their annual rate.

Usually housing is an engine of recovery following a recession, but this time, due to the excess supply of vacant homes, housing has lagged the economy.

And usually government hiring contributes moderately to a recovery, but this time we’ve seen a significant decline in government employment. This decline has been mostly from state and local cutbacks, but the Federal government has been cutting back too.

And of course, as Levanon notes, the global economy is weak with several key countries in recession.

The little bit of good news is housing is finally starting to slowly recover, and perhaps state and local government layoffs might end mid-year. So far GDP growth has been heavily car driven, and that growth might slow – and, of course, the global economy is a drag.

It seems like one or two cylinders of the growth engine are always misfiring. This is why sluggish and choppy growth has been my general forecast for almost 3 years now.