Read the Thursday Afternoon Wrap-Up for 5/30/2013 and the Friday Morning Commentary for 5/31/2013
Outside Nazi Germany, no nation has so effectively utilized PROPAGANDA to further its leaders’ interests – at the expense of citizens – than today’s United States. And I’m not talking about false flag attacks like 9/11 – which takes the discussion to an entirely different level; but instead, the relatively simple task of manipulating economic data…
U.S. Government Manipulated Economic Statistics (Peter Schiff)
When inflation started to uncontrollably rise in the 1990s, the government simply “adjusted” the CPI – i.e., the basis of millions of entitlement calculations – to portray lower price increases. Statistical “games” like hedonics and substitution were utilized – among others; and Voila!, a MASSIVE disconnect between REAL and PUBLISHED inflation…
Similarly, when jobs started fleeing America en masse at the turn of the century – for points East – the BLS simply added millions of “phantom jobs” via the CES BIRTH/DEATH MODEL; and thus, despite the lowest labor participation rate in three decades…
…our newly re-elected President claims “unemployment” is declining…
Jack Welch accuses Obama of cooking jobs numbers
…despite the fact that even fudged job growth barely keeps up with POPULATION growth…
How Many Jobs Are Needed to Keep Up with Population Growth …
…not to mention, Obama’s GDP will now “grow” in the second half of 2013; again, care of“adjustments”….
US GDP will be revised higher by $500 Billion following addition of “Intangibles” to Economy
Of course, the REAL issue isn’t so much the quantity of new jobs, but the quality; i.e., the ENORMOUS PINK ELEPHANT IN THE ROOM. I have been writing of this topic for some time; and with another NFP report due later this week, I figured I’d “close the loop” – by discussing the key variables in this equation.
Essentially, there are three worth considering – and kudos to Zero Hedge for being the only analysts to publish them; starting with the average AGE of new job recipients. Here’s the data for November 2012, for example (presented without comment)…
…and here’s similar data depicting the entire so-called “recovery” of the past five years. I don’t have to tell you that few economy-enhancing jobs come from the over 55 and under 24 age groups…
Last but not least, it appears the government is now assuming part-time jobs are the functional equivalent of full-time jobs…
In February 2013, Multiple Jobholders rose by a Record, as Full-Timers Dropped, Part-Timers Increased
…as the recent, “better than expected” February NFP report depicted…
Given the utter collapse we are witnessing in the GLOBAL economy, the U.S. government appears to have yet again created a “NEW EMPLOYMENT PARADIGM”…
10 Under-Reported Realities in the US Labor Market
…as usual, by incorporating “adjustments” to existing economic data. We all know what fate befell the Nazis – and their currency; and sadly, 2013 America is headed in the same misguided, malignant direction.
