SHOCKER: THE BLS HAS BEEN LYING

The real question is who has been directing the BLS to report fraudulent numbers? Is it directly from the White House or is it some left wing bureaucrat desperately trying to obfuscate how bad Bidenomics has been for America?

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LOOK AT THAT GREAT JOBS REPORT

Guest Post by E.J. Antoni

For convenience, here’s all the info on the Mar jobs report in a single thread – sorry to be the bearer of bad news, especially regarding American citizens losing so much ground in this economy… Image
The headline numbers once again look good w/ over 300k payrolls added and the employment number from the household survey rising even faster, but what kinds of jobs are being created? Turns out they’re all part-time: Image

Continue reading “LOOK AT THAT GREAT JOBS REPORT”

Inside The Most Ridiculous Jobs Report In Recent History

Via ZeroHedge

On the surface, it was an blockbuster jobs report, certainly one which nobody expected. Starting at the top, the BLS reported that in January the US unexpectedly added 353K “jobs” – the most since January 2023 (when the print was 482K compared to 131K) , double the consensus forecast of 185K and more than the highest Wall Street estimate (300K from Natixis). In fact, this was a 4-sigma beat to estimate, unheard of in the past year.

The headline data was stellar across the board, starting with the unemployment rate which once again failed to rise – denying expectations from “Sahm’s Rule” that a recession may have already started – all the way to average hourly earnings, which unexpectedly spiked from 4.1% (pre-revision) to 4.5%, the highest since last September, and a slap in the face to the Fed’s disinflation narrative…

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Bureau of Labor Statistics Fabricated One-Third of Newly Created Jobs in 2023

Guest Post by Martin Armstrong

The US government consistently lies on their jobs reports released by the Bureau of Labor Statistics (BLS). The agency initially cheered at the 3,140,000 new positions created in 2023, but later revised the figure down by 443,000. But wait, the BLS made another miscalculation in March to the tune of 306,000 jobs. This means that one-third of all new positions added in 2023 were a LIE.

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IN THE WAR ON TRUTH, IT’S TIME TO BECOME HEROES

“Truth is treason in an empire of lies.”George Orwell

“The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. …We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized.

Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. …In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons… who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind.” Edward Bernays – Propaganda (1928) pp. 9–10

“Axis of Evil” seems to be interchangeable, based upon who the Deep State needs to be the enemy at any given time. Bush junior first coined the phrase in his January 29, 2002 State of the Union speech when describing Iran, Iraq and North Korea. Of course, we know his Deep State handlers then falsified claims of 9/11 involvement and WMDs, to take out Sadaam and steal his oil. The barely cogent doddering old fool senator McConnell this week declared Russia, China and Iran as the new “Axis of Evil”. You notice Iran is still in the club, but they now consider two nuclear armed superpowers to be evil and enemies. Kim Jong Un must be so disappointed at being kicked out of the club.

Continue reading “IN THE WAR ON TRUTH, IT’S TIME TO BECOME HEROES”

KEEP BELIEVING BIDEN’S BLS BS

Are you going to believe the government produced statistical  mumbo jumbo designed to mislead, misinform, and keep you sedated? Or are you going to believe your own two eyes? No one in their right mind should believe inflation is 3.7%. The CPI is a manufactured number based on false assumptions and massaged to create a happy ending for government bureaucrats and central bankers. It is completely made up by people paid to make their bosses (Biden, Powell) look good.

You can see your grocery store receipt is 40% higher than it was two years ago. The price of beef has doubled, so most people stop buying beef and buy chicken. The BLS uses this in their model to say that beef didn’t really go up 100%, because you switched to chicken. These financial wizards are f**king brilliant!!!

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Inside Today’s Disastrous Jobs Report: 670K Full-Time Jobs Lost In 2 Months Vs 1 Million Part-Time Surge; Worst Unadjusted August Payrolls Since Great Recession

Via ZeroHedge

While the prevailing post-payrolls narrative has focused on the divergence between the stronger than expected (if soon to be revised lower) headline payrolls print (which at 187K came in just above expectations of 170K but followed two sharply downward revised months) and the unexpected spike in the unemployment rate from 3.5% to 3.8%, the highest since Feb 2022, a closer look at the details of today’s jobs report reveals just how ugly the reality behind the the Budget-Busting Bidenomics truly is.

Let’s start with revisions.

Regular readers are aware that earlier this year we spotted a peculiar trend when it comes to economic data releases by the Biden admin which  – without fail – had been revised lower…

Continue reading “Inside Today’s Disastrous Jobs Report: 670K Full-Time Jobs Lost In 2 Months Vs 1 Million Part-Time Surge; Worst Unadjusted August Payrolls Since Great Recession”

Inside The Disastrous Jobs Report: 1 Million Surge In Part-Time Jobs As Full-Timers Crash Amid Staggering Downward Revisions

Via ZeroHedge

While the prevailing post-payrolls narrative has focused on the divergence between the soggy headline payrolls print (which at 187K not only missed expectations for a second consecutive month, but was the lowest number since Dec 2020), and the stronger than expected hourly earnings (which beat expectations only because hours worked dropped again to 34.3, a level last seen in the pre-covid days) and the drop in unemployment rate (which brings us even further from the Fed’s year-end dot plot target of 4.1%, a closer look at the details of today’s jobs report reveals just how ugly the reality behind the the Budget-Busting Bidenomics truly is.

Let’s start with revisions.

Regular readers are aware that earlier this year we spotted a peculiar trend when it comes to economic data releases by the Biden admin which  – without fail – had been revised lower…

Continue reading “Inside The Disastrous Jobs Report: 1 Million Surge In Part-Time Jobs As Full-Timers Crash Amid Staggering Downward Revisions”

IT’S NOT A LIE IF YOU BELIEVE IT

“The past was erased, the erasure was forgotten, the lie became the truth.”George Orwell, 1984

It's not a lie if you believe it – Seinfeld Memes

“Great is truth, but still greater, from a practical point of view, is silence about truth.” ― Aldous Huxley, Brave New World

I wish I could go through a day without having to reference Orwell and Huxley when observing how the ruling class is able to manipulate, subjugate, and propagandize the willfully ignorant masses through lies, deceptions, disinformation, and fear. But here we are, living through a dystopian nightmare blending the worst aspects of Orwell’s 1984 and Huxley’s Brave New World.

It’s as if O’Brien and Mustapha Mond are running the show, using behavioral conditioning, restricting freedom of speech, adhering to a strict caste system, surveilling everything we say or do, using our fears to control us, utilizing propaganda to produce false narratives, and ultimately threatening to stomp a boot on our faces forever if we do not obey and conform. Virtually everything we are told by politicians, government bureaucrats, military brass, “esteemed” journalists, medical “experts”, bankers, and corporate executives is lies. They do not believe their lies, but they know it benefits themselves financially to lie, and as long as they work together, they know the ignorant masses will believe them.

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1.1 MILLION FAKE JOBS ADMITTED AFTER MIDTERM ELECTIONS

Do not trust any statistic produced by your government or touted in the MSM. It’s all lies, designed to support the narrative of the day. ZeroHedge was reporting for months that the jobs numbers were fake. Are the “conspiracy theorists” ever wrong?

Something Is Rigged: Unexplained, Record 2.7 Million Jobs Gap Emerges In Broken Payrolls Report

Via ZeroHedge

A superficial take of today’s jobs report would note that both jobs and earnings “blew past expectations, flying in the face of Fed rate hikes”, and while that is accurate at the headline level, it couldn’t be further from the truth if one actually digs a little deeper in today’s jobs numbers.

Recall that back in August, September, and October we showed that a stark divergence had opened between the Household and Establishment surveys that comprise the monthly jobs report, and since March the former has been stagnant while the latter has been rising every single month. In addition to that, full-time jobs were plunging while part-time jobs were surging and the number of multiple-jobholders soared.

Fast forward to today when the inconsistencies not only continue to grow, but have become  downright grotesque.

Consider the following: the closely followed Establishment survey came in above expectations at 263K, above the 200K expected – a record 7th consecutive beat vs expectations –  and down modestly from last month’s upward revised 284K…

Continue reading “Something Is Rigged: Unexplained, Record 2.7 Million Jobs Gap Emerges In Broken Payrolls Report”

Crrraaaazy Wally (Street, That Is)

Guest Post by Karl Denninger

We call it…. “crazy Ivan” – Hunt for Red October

Except this is November, and the crazy came out of the CPI report.

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in October on a seasonally adjusted basis, the same increase as in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.7 percent before seasonal adjustment.

The index for shelter contributed over half of the monthly all items increase, with the indexes for gasoline and food also increasing.

If you were short into this there was no getting away from what went up your backside; a literal 100 handles went into the Spoos within seconds and I’m quite sure if you’d been short you would have been gapped over, so a stop would have gotten you exactly no protection.

Continue reading “Crrraaaazy Wally (Street, That Is)”

FADING SMILE OF A DYING EMPIRE

“All that is human must retrograde if it does not advance.” – Edward Gibbon

“Woe, destruction, ruin, and decay; the worst is death and death will have his day.” – William Shakespeare, Richard II

We moved to our corner of Montgomery County, Pennsylvania twenty-seven years ago. We raised our three boys here. We spent hundreds of hours on local baseball fields, in hockey rinks, in school gyms for basketball games, concerts, plays and donuts-with-dads. It’s still a nice place to live, with virtually no crime, decent roads, and reasonable property tax rates. But I would have to say there has been a degradation in the overall quality of life in my community, which is consistent with the downward spiral of our society in general. When we planted our roots in this community it was still more farm-like than suburban. Family farms and open space were more prevalent than housing tracts, strip malls, fast food joints and cookie cutter commercial buildings. A beautiful farmhouse a few miles from our home, freshly painted white, proudly displayed the iconic yellow smiley face. It symbolized good times.

We’ve been driving on this road for twenty-seven years on the way to baseball games, hockey practices, the car dealer for service, and lately to our gym, as we try to fend off father time.  Driving by that barn in the early days would always brighten your day. A bright yellow smiley face against a white background represented a positive, happy view of the world.

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July BLS Tells Only Half the Tale

Guest Post by Joe Guzzardi

The July Bureau of Labor Statistics report was a blockbuster. The economy created 528,000 jobs, and unemployment dipped to 3.5 percent, well ahead of Dow Jones’ 258,000 new jobs and 3.6 percent unemployment estimates. Wage growth also rose; average hourly earnings increased 0.5 percent for the month and 5.2 percent year-over-year, higher than, respectively, the .03 percent and 4.9 percent Wall Street estimates. A .05 percent increase, however, keeps consumers getting poorer as inflation last month proceeded at an 8.5 percent rate.

But no federal government report merits more skepticism than the monthly BLS. If the jobs market were truly booming, then the labor participation rate should be climbing. Instead, the participation rate is falling.

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Something Snaps In The US Labor Market: Full, Part-Time Workers Plunge As Multiple Jobholders Soar

Via ZeroHedge

Something odd emerges when looking at the June payrolls report.

On one hand, the closely followed establishment survey came in red hot, and despite dropping modestly from May, it still printed some 100K above the median consensus expectation, at 372K vs the median consensus of 268K…

… and with wages in line with expectations, rising 0.3% M/M or 5.1% Y/Y, it was enough for many to conclude that calls of a recession are premature because, after all, you can’t enter a recession when jobs are rising by almost 400K.

True… but a problem emerges when looking at the more detailed, if less closely watched, Household survey. Here, unlike the Establishment Survey, the June jobs change was actually a striking 315K drop, and after the April plunge of 353K, the June drop was actually the biggest going back to the March 2020 crash.

Continue reading “Something Snaps In The US Labor Market: Full, Part-Time Workers Plunge As Multiple Jobholders Soar”

The Federal Reserve: Enemy of American Workers

Guest Post by Ron Paul

According to numbers released by the US government, consumer prices have increased by 7.5 percent in the past year, the steepest increase since 1982. The actual price increases are even worse than the government numbers suggest, given that the “official” statistics are manipulated to understate the real rate of price increases. According to John Williams of ShadowStats, prices have actually increased by around 15 percent over the past year.

The fact that prices remain at historically high levels shows that inflation is far from “transitory,” as Federal Reserve Chairman Jerome Powell had described it. The continuing inflation has led the Federal Reserve Board to suggest the Fed will start increasing interest rates earlier than previously announced. The Fed may also break with its practice of only raising rates by 25 basis points at a time and increase rates by increments of up to 50 basis points. However, the increases the Fed is discussing would still leave interest rates at historic lows. Thus, such interest rate increases would do little or nothing to ease the pain rising prices cause for average consumers.

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