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The BLS: A History Of (Downward) Revisions, Or How The Department Of Truth Goosed Markets With Half A Million Fake Jobs In Two Years

Tyler Durden's picture





 

Zero Hedge has previously demonstrated the improbable, for lack of a better word, upward bias in revising initial jobless claims applications. Today, we look at an even greater statistical problem at the BLS: that of Non-Farm Payrolls. Courtesy of today's full year revision announced by the BLS, and a granular sort by John Poehling, we have discovered that while revisions added a whopping 55k jobs in the years 2006-2008, NFPs have now been revised to remove 538k jobs in the 2009-2010 period. In other words, based on data revisions, under President Obama, America has suddenly created over half a million jobs less (even if all of them are part time) simply due to statistical adjustments. We won't even go into analyzing just how much worse the S&P would be trading if all those monthly "upside" NFP reports had reflected true and not completely fudged numbers. At an average 22.4K downward monthly revision for every single monthly NFP report in the past two years, we are 100% confident that not even Iosif Shalom Bernanke would be able to offset the market plunge that would ensue each and every of the past 24 months... if fundamentals were ever to be remotely meaningful again, of course.

h/t John Poehling

 


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Fri, 02/04/2011 - 19:52 | Link to Comment digalert
digalert's picture

Maybe Steve Liarman from CNBS can explain this for me.

Fri, 02/04/2011 - 20:30 | Link to Comment impending doom
impending doom's picture

True story: actual email sent to Steve Truthman and his (or at least his admin's)subsequent reply:

Hi Steve,
I just saw your comedy routine on the NBC nightly news and now that I've stopped laughing, I just wanted to say thanks for being a complete and total douchebag sellout.
America

Right.
Lotsa love and happy holidays,
Steve

Try it, it's fun. steve.liesman@nbcuni.com

Fri, 02/04/2011 - 21:41 | Link to Comment treasurefish
treasurefish's picture

You're right!  That was fun.  I just modified the script for my own needs with the Subject: "You're a Tool!"

Hi Steve,
I am copying the following text from another "fan!"  I TOTALLY AGREE!!!!  You are such a talking head.  I bet the Bernank has you on his Christmas bonus list:

I just saw your comedy routine on the NBC nightly news and now that I've stopped laughing, I just wanted to say thanks for being a complete and total douchebag sellout.   

America

 

Fri, 02/04/2011 - 22:02 | Link to Comment Wynn
Wynn's picture

Don't forget Mark Zandi - he has bet his professional integrity on a 250 - 300K print for February (barring any blizzards).

(I think he checked the Accuweather forecast beforehand) 

Sat, 02/05/2011 - 01:28 | Link to Comment glenlloyd
glenlloyd's picture

I have never liked him...he's a weenie.

Fri, 02/04/2011 - 22:39 | Link to Comment Michael
Michael's picture

That explains the shellacking the democrats and incumbents got last November.

Sat, 02/05/2011 - 00:56 | Link to Comment Michael
Michael's picture

This is President Obama's play book on government statistic lies. When will his regime get blowback like this? 

Crisis in Hungary as politician tells the truth: "We lied!"

"Hungarian Prime Minister Ferenc Gyurcsany admitted in a Socialist parliamentary group meeting on May 26 that the government had done nothing during the preceding four years.

According to a tape recorded secretly after the spring elections and leaked out on the website of Hungarian public radio on Sunday, Gyurcsany said, "We lied during the last one-and-a-half or two years. It was obvious that whatever we said was untrue."

The PM said, "We have not taken any important government measures that we can be proud of apart from bringing back power from the deep s..t," Gyurcsany said, referring to the electoral victory of the Socialist-liberal coalition."

"Protests on Kossuth Square started on Sept. 17, 2006 when a recording was leaked revealing Socialist Prime Minister Ferenc Gyurcsany admitting that the government lied about the economy before its re-election in April.

The protesters had vowed to stay until Gyurcsany was dismissed, but police pushed them off the square after they refused to submit to security checks. But authorities did not dismantle the dozens of tents set up by the protesters, and they were expected to allow the demonstrators to return after Monday's commemoration.

State news agency MTI reported that police beat some of the protesters — including women and elderly people — with rubber batons, and some had head injuries.

President Laszlo Solyom pleaded Sunday for national unity, trying to keep the bitter political divisions from spilling over into the celebrations."

"Appearing live on local television channel ATV on Sunday evening, Mr Gyurcsany accepted the recording as legitimate, but said the lies he referred to in May were about politicians convincing Hungarians they could live comfortably without paying the cost of doing so.

"For years ... we made people believe that they have nothing to do, that we will give them happiness as a gift," he said. "We have to stop the deluge of lies which have covered the country for many years."

In the past several weeks, he has also admitted that, to have a better chance to win last April's elections, the Government covered up the real size of the state budget deficit and passed a law introducing tax cuts now described by the Prime Minister as a mistake."

http://www.algeria.com/forums/geopolitics-international-affairs/16706.htm

 

Sat, 02/05/2011 - 12:05 | Link to Comment vinoverde
vinoverde's picture

watching Hilda Solis on CNBC a few months ago, truly disturbed me. It was clear shewas a true believer. Whatever happened in the labor market, it must reflect the wise and beneficial policies of the Great Leader, BHO. She was a mind lost to the State, unreachable, Stalinist in a way far more gone than the standard slant. I realized then, I could not trust anything from the BLS.

Sat, 02/05/2011 - 13:48 | Link to Comment Michael
Michael's picture

Don’t be standing around Cowboys Stadium with all that ice and snow on the roof. When all that snow and ice comes sliding off, it will put you in the hospital or kill you.
It’s a laugh riot watching the CNN news anchors, especially the women anchors, trying to laugh off the weather news in Dallas.
They act like it’s a joke or something. The joke is on them and the cognitive dissonance they are experiencing, due to their impenetrable belief system in man-made global warming they have been pushing their entire carriers, is on display in living color. They are giggling so hard, they're almost starting to cry.

Sat, 02/05/2011 - 13:54 | Link to Comment Quixotic_Not
Quixotic_Not's picture

Maybe Steve Liarman from CNBS can explain this for me.

Truth is treason in an empire of lies...

I was so stupid not to go to Perp school and then Ivy League racketeer training - I had no idea you got a license to steal with those diplomas!

Fri, 02/04/2011 - 19:54 | Link to Comment Yen Cross
Yen Cross's picture

Ya gotta love the inverted head and shoulders pattern

Fri, 02/04/2011 - 20:06 | Link to Comment Whizbang
Whizbang's picture

Employment data doesn't fall under the auspices of technical analysis.

Fri, 02/04/2011 - 19:57 | Link to Comment Yen Cross
Yen Cross's picture

Oh Wait I see a neckline, right around next weeks NFP numbers.

Fri, 02/04/2011 - 19:58 | Link to Comment djsmps
djsmps's picture

I saw Steve Liarman and his cronies at 7 am, just checking the futures. They were all coming up with excuses in advance for the possibility that the number would be bad. I think they all mentioned weather, and Liarman asked, "If the BLS numbers are bad, do we even believe them?"

Fri, 02/04/2011 - 20:05 | Link to Comment km4
km4's picture

David Stockman on todays jobs report 

Video - CNBC
starts at 3:00

  • more spin control on jobs from WH ever
  • lost 6.6 Million jobs since 'great recession'
  • great American jobs machine is broken
  • Fed QE policy is a joke
  • we're issuing 3x more bonds than our GDP is growing ( stupid to buy a 100yr bond )
  • we're heading into a wall

 

Fri, 02/04/2011 - 20:10 | Link to Comment Tyler Durden
Tyler Durden's picture

Stockman is the inspiration behind the above-noted chart which shows that all of the gains (if one may call them such), are part-time in nature:

Also Stockman is wrong on the debt/GDP ratio. He is using Rosie's analysis for a growing (7.4%) economy. Since we are "growing" at half the rate (3.4%), we are at a 6x debt/GDP ratio. The number is getting ever higher.

Rosie Highlights The Biggest Problem With Last Week's GDP Miss

Fri, 02/04/2011 - 20:23 | Link to Comment DavidPierre
DavidPierre's picture

Next time you see a bullish economic report from the Government, remember that they are usually fabricated from estimates, incomplete data and outright data manipulation. Yes, Bernanke is either completely stoned or a calculated liar. And, yes, the farce continues.

Bernanke Either Is Smoking Some Strong Weed Or Is A Malicious Liar

or

http://truthingold.blogspot.com/2011/02/bernanke-either-is-smoking-some-strong.html

Fri, 02/04/2011 - 21:21 | Link to Comment lynnybee
lynnybee's picture

.....he's a liar.   remember, Dr. Faber even called him a liar right on t.v.    here's another person calling him a liar ; unfortunately only the educated people realize what's going on; the average American Citizen is ill-informed :

    http://www.youtube.com/watch?v=TnvMSNUymHg&feature=feedu

Fri, 02/04/2011 - 20:21 | Link to Comment Yen Cross
Yen Cross's picture

Chopp seuiex. Pun intended.

Sat, 02/05/2011 - 00:33 | Link to Comment unununium
unununium's picture

It's a little hard to get excited about the distance between the pink and blue lines on that chart.  Maybe a cumulative chart would be more convincing. 

Sat, 02/05/2011 - 01:08 | Link to Comment ebworthen
ebworthen's picture

 

Tyler,

This is the big, BIG picture story, take a look:

http://www.ers.usda.gov/publications/eib3/charts.htm#fig3

Especially figures 3 and 4

A house of cards!  All completely dependent upon petroleum.

 

Sat, 02/05/2011 - 05:58 | Link to Comment francis_the_won...
francis_the_wonder_hamster's picture

I'm not sure I see your point.....it seems that graph #3 has stabilized since 2000.  Although.....if we believe in the whole "in a long enough timeline" thingie.....eventually we'll have zero farms but they'll be very large producers of nothingness......is that not efficient enough for you?

Graph#4 is even better.....because it makes almost no sense to me for a farmer who is good at producing corn to be wasting time producing wheat......we are borg and we tolerate no waste.

Sat, 02/05/2011 - 16:02 | Link to Comment sgt_doom
sgt_doom's picture

Thanks for pointing that out, plus that GDP growth derives a great deal from the QEI & II debt increase.

Fri, 02/04/2011 - 20:17 | Link to Comment traderjoe
traderjoe's picture

How many times does the CNBC anchor have to make fun of how 'gloomy' Stockman is? It's his weak attempt at subliminally discrediting Stockman. Why does anyone that has a contrary opinion have to be considered a gloom-and-doomer? Of course, we know the reason...

Fri, 02/04/2011 - 20:39 | Link to Comment Rainman
Rainman's picture

The fun will continue until someone at Comcast says : YOUR RATINGS ARE SHIT, YOUR RATINGS ARE SHIT !!

Fri, 02/04/2011 - 22:48 | Link to Comment mynhair
mynhair's picture

Don't rain on that moron's parade earlier that thinks CNBS is a different network.

Give a retard a break...

Fri, 02/04/2011 - 20:45 | Link to Comment LibertyIn2010
LibertyIn2010's picture

WAR IS PEACE

FREEDOM IS SLAVERY

IGNORANCE IS STRENGTH

TRUTH IS GLOOMY

 

Fri, 02/04/2011 - 23:22 | Link to Comment Temporalist
Temporalist's picture

Darn shared this finally below didn't see this...

Fri, 02/04/2011 - 20:05 | Link to Comment rosiescenario
rosiescenario's picture

I still say this job counting is a red herring...what really counts is the amount of income created....you add 100 minimum wage jobs and lose 50 $80K ones...and gee your job count went up 100% but the actual income being earned went down...this crap about counting jobs has got to stop...it is just another delusional stat from our government and everyone appears to buy into it.

Fri, 02/04/2011 - 20:15 | Link to Comment Logans_Run
Logans_Run's picture

Exactly!

Fri, 02/04/2011 - 20:17 | Link to Comment Logans_Run
Logans_Run's picture

My roommate was making close to $200K as a sales rep. He now can't even find a friggin retail job at $9/hour.

Fri, 02/04/2011 - 20:44 | Link to Comment trav7777
trav7777's picture

is he still payin his share of the rent tho

Sat, 02/05/2011 - 00:22 | Link to Comment hardmedicine
hardmedicine's picture

bravissima!! +523k

Fri, 02/04/2011 - 20:05 | Link to Comment umop episdn
umop episdn's picture

BLS = revised lies, widely despised.

Fri, 02/04/2011 - 20:05 | Link to Comment Rainman
Rainman's picture

This is irrefutable evidence why it is important that all numbers be sanitized prior to distribution so as not to befuddle the markets and the masses with what is deemed to be irrelevant detail. Data management is, of course, included within the emergency powers function. Carry on. 

Fri, 02/04/2011 - 20:06 | Link to Comment Boilermaker
Boilermaker's picture

Yea, well, it worked didn't it?  You know, there is a neverending supply of shit eating morons out there that will eat the propoganda off of a spoon.  They don't want to hear the truth and, as such, aren't told the truth.

I would guess that 90% or more of the general adult aged citizenry wouldn't even be able to tell you what the UE rate is, what QE is, what the FED is, or what common equity is.  They know what they are told.

It's sad.  It sucks.  It's frustrating.  But, propoganda generally works and the government knows it.

Fri, 02/04/2011 - 20:11 | Link to Comment Rainman
Rainman's picture

.....last night Mrs. Rainman asked me who Tim Geithner was. Sigh.

Fri, 02/04/2011 - 20:14 | Link to Comment Boilermaker
Boilermaker's picture

Yea, well Mrs. Boilermaker continues to ask "why do they do that when it's not fair"...Thank god I have been on tap at the Boiler home.

Fri, 02/04/2011 - 20:19 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Women have the faintest sense of survival.

Fri, 02/04/2011 - 21:45 | Link to Comment MsCreant
MsCreant's picture

What do you mean by that? I'm not being sarcastic, I don't understand.

Fri, 02/04/2011 - 22:04 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

Hi Ms.  I hope I'm not stepping on toes replying to a question in a thread I was not a part of.  IMHO Here is the crux:  Women are absolutely the best survivors out there.  Don't believe me?  Get between a woman or virtually any female mammal and her little one.  Nails, claws, teeth, etc.  What these men are referring to, is long term planning given the possibility of economic/political/social collapse. Women look at you like you are crazy.  My wife tells me that all the food I store will be thrown out by the kids after I die.  I tell her I hope she is right.  She says I dont need the firepower.  I tell her I hope I never do.  The only way to explain it is, to me it it like an insurance policy.  Even If never used, the peace of mind provided is worth the time, effort and money; to me anyway. 

Fri, 02/04/2011 - 22:32 | Link to Comment Fernley Girl
Fernley Girl's picture

My husband wanted a new 4WD pickup.  I wanted food, guns, ammo and PM's.  Wanna guess what's in the garage?

Fri, 02/04/2011 - 22:41 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

I am generalizing.  Having said that, I think I love you.  It's real this time.  No really.  (For good measure, if my wife ever sees this I will add /sarc)

Fri, 02/04/2011 - 22:58 | Link to Comment Fernley Girl
Fernley Girl's picture

:D

Fri, 02/04/2011 - 22:57 | Link to Comment Rusty Shorts
Rusty Shorts's picture

She's mine damn-it, I loved her first.

Fri, 02/04/2011 - 23:07 | Link to Comment randocalrissian
randocalrissian's picture

Be careful, if you ask her to get a divorce, she's going to shoot you.

Sat, 02/05/2011 - 23:01 | Link to Comment RockyRacoon
RockyRacoon's picture

Can a coon get in on this love-fest?  I'll love any woman who likes the "basics" of life -- really, I mean LIFE.  Without the items she listed there might not be much of that remaining.

Fri, 02/04/2011 - 22:44 | Link to Comment Henry Chinaski
Henry Chinaski's picture

My woman is totally on board with self reliance and survival, but doesn't want to think about the worst case scenario.  It's a bit contradictory.  She sort of tolerates the food, guns, ammo, and PM's.  She thinks it is overkill but appreciates it nonetheless.

Fri, 02/04/2011 - 22:56 | Link to Comment Rusty Shorts
Rusty Shorts's picture

Hi Fernley Girl, did I mention that I'm in love with you?

Fri, 02/04/2011 - 23:11 | Link to Comment Yen Cross
Yen Cross's picture

Good job! Keep the great posts coming.

Fri, 02/04/2011 - 23:43 | Link to Comment Oleander
Oleander's picture

My ex is a banker :(  He is still drinking the Kool aid.   I am into PM and food stocks.

He can have the house and car payments. When this all falls apart I will be hedged.

Sat, 02/05/2011 - 00:03 | Link to Comment Rusty Shorts
Sat, 02/05/2011 - 00:24 | Link to Comment Cheesy Bastard
Sat, 02/05/2011 - 00:36 | Link to Comment Rusty Shorts
Rusty Shorts's picture

It's on like a neck bone brother.

http://www.youtube.com/watch?v=1uaPs8sxqB0

Sat, 02/05/2011 - 01:00 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

I love you too.  By the way, us old guys can do dogs too, its easy.

http://www.youtube.com/watch?v=a4elyEhgUjY&feature=related

Sat, 02/05/2011 - 01:17 | Link to Comment Rusty Shorts
Sat, 02/05/2011 - 01:34 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

OK Rusty.  You win.  Only one question, now.  Why is your dirt in boss keane's ditch?

 http://www.youtube.com/watch?v=LkI9csyCZhs

Sat, 02/05/2011 - 01:47 | Link to Comment Rusty Shorts
Rusty Shorts's picture

"Why is your dirt in boss keane's ditch?"

Because it's my dirt.

 

http://www.youtube.com/watch?v=Lr58WHo2ndM

 

Sat, 02/05/2011 - 02:34 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

Enjoyed that Rusty.  God Bless!

Sat, 02/05/2011 - 02:39 | Link to Comment Rusty Shorts
Sat, 02/05/2011 - 09:18 | Link to Comment Husk-Erzulie
Husk-Erzulie's picture

Ya'll are giving me a big old shit eating grin.  Don't listen to those boys Fernley, I love you.  :~p

Sat, 02/05/2011 - 23:06 | Link to Comment RockyRacoon
RockyRacoon's picture

 

 

 

 

I don't think I want to know why your shorts are rusty...

Mon, 02/07/2011 - 01:29 | Link to Comment Rusty Shorts
Rusty Shorts's picture

 

 

 

 

Trust me, my shorts are not rusty...

Sat, 02/05/2011 - 10:38 | Link to Comment Hulk
Hulk's picture

Thats cruel and unusual punishment. Fernley Girl, ever had a Hulk?

Fri, 02/04/2011 - 22:55 | Link to Comment Gully Foyle
Gully Foyle's picture

Cheesy Bastard

No difference between individual men and women. Each person is different.

Spend a few weeks reading this site

http://www.dailyrotten.com/

I will say this, EVERY wife and Mother KNOWS when her child is being physically or mentally abused. The fucking majority ACCEPT and allow the abuse to happen.

ONLY the MINORITY take action.

Because their GODDAMNED security is more important than that of the children.

For a long time I thought it may be a sign of decaying modern society.

But recently I realized that it has always been that way and always will.

Very few people put the benefit of their family before their own well being.

 

Fri, 02/04/2011 - 23:50 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

Gully, I respect you and read some of your links.  I beg to differ.  I think most folks put their kids before themselves.  If I am wrong about that, then nothing else matters.  Most folks will protect their family.  You can use that as your personal strong point.  Most cops and firefighters and teachers will go home when tshtf.  Remember that, and use it. 

Sat, 02/05/2011 - 11:02 | Link to Comment Gully Foyle
Gully Foyle's picture

Cheesy Bastard

Maybe I was unclear. I was refering to the majority of abused children and those mothers.

But, I also think most people put their families second. Consider the Divorce rate for example, or individual debt.

"Most cops and firefighters and teachers will go home when tshtf.  Remember that, and use it. "

I know nothing about Firemen, except from Rescue Me. Cops are like the old concentration camp gurad description, ' Some are good, some bad and some just doing their job". Plus they are people who want to be in control of others, thus the need tor the uniform and enforcing "the law". Just like politicians.

Teachers are the nanny state minders, who really cares where they go.

When the shit hits the fan most people will cave. At least in the US. One reason being an older population doesn't riot, unlike say Egypt where the median age is 24.

The second is we just don't care anymore. We have lived under dominance for so long people have either given up or adapted.

Sat, 02/05/2011 - 23:09 | Link to Comment RockyRacoon
RockyRacoon's picture

I believe the actions of the "public servants" in the face of Katrina may have proved your point.   Cops were off the job and others left their posts to go home.   Perhaps their families came first?  I guess we'll have to have one of them post his/her own experience.

Fri, 02/04/2011 - 23:19 | Link to Comment Temporalist
Temporalist's picture

I completely disagree with you if commenting on "contemporary women" from free societies.  Someone that cannot even defend/fend for themself cannot defend their child.  Ever see a woman running from a mugger/rapist in high heels?  No of course not because they lost that race the second they put their shoes on (or flip flops for that matter).

Or the complete utter lack of sense of self preservation by walking around half naked the moment the weather warms is like wearing meat pants in a tiger cage.  Of course they are "allowed" in a free society to dress as inapropriately as they want but is it a good idea...probably not.

Not only that they are not mentally prepared it is like an instinctive light switch has been turned off for a century and the mere thought that harm can come to them, until it actually does, is alien.  Walking home drunk and alone on dark streets, total lack of awarness of surroundings, texting and listening to music...it's like wearing a neon sign saying "Attack Me I'm Standing Right Here!" to those that would.

The lack of common sense is astounding, and that can apply to both genders, but clearly when it comes to getting physical females who are unprepared are casualties far more often.

The point I guess is that women are already vulnerable but they take few precautions to defend themselves, be prepared and aware of the constant dangers in the world.  I'm sure there are exceptions but they are far fewer than the majority.

Fri, 02/04/2011 - 23:54 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

Humbly, the snap card crowd you are referring to is still less than half the population.  Plus, that population is concentrated in certain areas as of now.  Analogous data is not data, it is observation.  You are close though.

Sat, 02/05/2011 - 04:53 | Link to Comment StychoKiller
StychoKiller's picture

Glad my daughter is working on her 2nd-degree black belt in Tae Kwon Do, then!  I wonder if it will be advantageous for her to carry her katana after the Great Implosion...guess I'll get her a semi-auto pistol as well.

Sat, 02/05/2011 - 11:07 | Link to Comment Gully Foyle
Gully Foyle's picture

StychoKiller

Just because someone learns a MA doesn't mean they will use it. There are hundreds of stories about trained Men and Women getting beaten, raped and murdered because they just can't do the simple thing like rip an eyeball out.

As someone said if you pull a weapon you better be prepared to use it.

Most people don't intentionally kill others. Unless it's heat of the moment or you are one of those special broken people lacking empathy it just isn't in ones nature.

Unless her TKD school is training her in full contact and she comes home bruised and aching, she ain't learning nothing but dance.

 

Fri, 02/04/2011 - 20:17 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

He's an elusive banskta scum, destroyer of futures, monetizer of debts, crony, spineless, little man...

...of which I don't know that which classifies him best

Fri, 02/04/2011 - 20:31 | Link to Comment Yen Cross
Yen Cross's picture

We're talking Perdue/Indiana state. Good old days stuff. A few Buck eyes in the mix?

Fri, 02/04/2011 - 20:11 | Link to Comment pton09
pton09's picture

How much HIGHER would sandp be trading if the job losses had been factored in?

More job losses, leads to more money printing which leads to higher equities in nominal terms.  Recovery BABY!!!

Sat, 02/05/2011 - 04:57 | Link to Comment StychoKiller
StychoKiller's picture

Why are these other jerks on CNBS STILL refusing to take off the rose-colored glasses?  Do they get paid more for wearing them?  It's as plain as the nose on a face that U6 is the ONLY pertinent number to be using!

Sat, 02/05/2011 - 14:05 | Link to Comment sethstorm
sethstorm's picture

It's as plain as the nose on a face that U6 is the ONLY pertinent number to be using!

That's because the more accurate U-7 number no longer exists.  So much for wanting to know about the people "left behind".

 

Sun, 02/06/2011 - 00:48 | Link to Comment RockyRacoon
RockyRacoon's picture

You're kidding, right?   How long would they have advertisers other than the same crap they sell on late night TV?  The financial ads would disappear, and the Popeil Pocket Fisherman don't pay much.

Fri, 02/04/2011 - 20:21 | Link to Comment no life
no life's picture

Ancient chinese secret..

Fri, 02/04/2011 - 20:25 | Link to Comment Yen Cross
Yen Cross's picture

Now you're sparking some  black powder. Me likey. keep it up!

Fri, 02/04/2011 - 20:22 | Link to Comment John Bigboote
John Bigboote's picture

The question is: how can we here on Zero Hedge and any other critical thinking venue know all of this, while the "recovery" theme be so consistently sold by the financial media, news media, corporate quarterly reports, and the government?

Can a conspiracy be so large? the answer to the question is: no. It is human nature not to tell the guy on the totem pole above you that you have failed (regardless of matters beyond your control). The end result is a chain of lies that eventually breaks when reality sets in. And when it does...look out. This has been my life since Sep 2008. It is breaking. I know because I am in the trenches and the shit will flow upstream at unbelievable speed in due course.

The BLS is a lie like everything else.

Fri, 02/04/2011 - 20:35 | Link to Comment Yen Cross
Yen Cross's picture

Where did you get those shades? ZH would market them. Oh wait REVO and the team would disagree.

Sat, 02/05/2011 - 01:44 | Link to Comment John Bigboote
John Bigboote's picture

Excellent case in point. These real events chip away at the big lie.

Fri, 02/04/2011 - 20:37 | Link to Comment Doug
Doug's picture

Wait... aren't we the ones criticizing China for fudging the numbers?

Sat, 02/05/2011 - 07:36 | Link to Comment ageofreason
ageofreason's picture

I believe that it was summed up is that they took it from the BLS playbook.....(-:

Fri, 02/04/2011 - 20:39 | Link to Comment 99er
99er's picture

SPX

For the Year of the Rabbit...the Energizer Index.

http://99ercharts.blogspot.com/2011/02/spx_3983.html

http://www.zerohedge.com/forum/99er-charts-0

It keeps going...and going....

Fri, 02/04/2011 - 20:45 | Link to Comment Atch Logan
Atch Logan's picture

So every night we come in here and learn that the government or specifically the BLS is fucking us with stats.  How long do we need to come in here to learn this.

For one, I am fed up with the Fed, the government, and with blogs fucking us over with bogus statistics.  We should know by know that the "good-guys" are being screwed, and it is getting worse. 

All this is too much for me.  I have learned, I am out of here.

 

Sat, 02/05/2011 - 05:00 | Link to Comment StychoKiller
StychoKiller's picture

As long as the lesson includes the virtues of owning Bullion, Bullets and Beans (Bitchez too?), then you can probably snatch the pebble from my hand, Grasshopper!

Sat, 02/05/2011 - 09:18 | Link to Comment New_Meat
New_Meat's picture

The FOUR's job: 'Beans, Bullets, Bandages, Badguys, and Busses."  Bullion might be a late starter.

Fri, 02/04/2011 - 20:59 | Link to Comment Bear
Fri, 02/04/2011 - 21:02 | Link to Comment lizzy36
lizzy36's picture

So the 3 million jobs Janet Yellen promised QE2 would produce?

And seems like just yesterday (April 23, 2010) when Joe Biden (friend of Mubarack) said:

“Some time in the next couple of months we’re going to be creating between 250,000 jobs a month and 500,000 jobs a month,” Biden said at a fundraiser today in Pittsburgh. "

Sat, 02/05/2011 - 05:03 | Link to Comment StychoKiller
StychoKiller's picture

I can draw pictures of aerodynamic swine and add zeroes to my paycheck too, but I think the bank will issue me a reality check in return...

Fri, 02/04/2011 - 21:03 | Link to Comment westboundnup
westboundnup's picture

How much did this job growth cost, again?

Fri, 02/04/2011 - 21:09 | Link to Comment topcallingtroll
topcallingtroll's picture

A shitfuckload...but dont worry your kids will repudiate it somehow.

Sat, 02/05/2011 - 15:40 | Link to Comment Things that go bump
Things that go bump's picture

I believe it would have been cheaper to just send everyone a check.

Fri, 02/04/2011 - 21:13 | Link to Comment topcallingtroll
topcallingtroll's picture

For all you fed haters does this make you feel better? Fake jobs for fake dollars.....kinda karmic in a way.

Fri, 02/04/2011 - 21:21 | Link to Comment DisparityFlux
DisparityFlux's picture

Policy makers slam the ship of state into an iceberg at full speed, dismiss the damages, perform puppet shows, and accuse passengers of dangerously rocking the boat with their critical attitude.

When the water starts lapping at your ankles, you are free to believe it's just the plumbing backing up.

Fri, 02/04/2011 - 21:29 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

The figures are accurate if you don't dismiss the birth/death model, which probably includes less jobs needed for the people who will starve to death or be killed in riots next year.

Fri, 02/04/2011 - 21:34 | Link to Comment Yen Cross
Yen Cross's picture

 Have a fantastic Weekend My fellow SMART MINDS.

Fri, 02/04/2011 - 21:34 | Link to Comment New_Meat
New_Meat's picture

"We won't even go into analyzing just how much worse the S&P would be trading..."

nfw

The Bernank has his hands firmly on the controls, so nvm.

- Ned

Sat, 02/05/2011 - 06:02 | Link to Comment Hephasteus
Hephasteus's picture

Woid is he wants to run the BIG MACHINE.

http://www.youtube.com/watch?v=WNkAtgX-HT4

Fri, 02/04/2011 - 21:36 | Link to Comment Yen Cross
Yen Cross's picture

Or should I say? Common sensual.

Fri, 02/04/2011 - 22:06 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

I have found the number I was looking for.

About 150,000 Americans turn 65 each month (retirement at full age).  About that many turn 62 each month, too.

With a 1%/yr general population growth rate on 300 million ppl, that is 3 million new Americans/yr.  Divide by 12 and it's about 250,000 people per month, presumably evenly distributed over the first 16 or 18 yrs.

So 150K disappear from the workforce to retirement each month, and 250K are added for a net 100K/month added.

Yet today's report dropped 500K from the workforce?  What the hell is going on?

Sat, 02/05/2011 - 05:56 | Link to Comment zhandax
zhandax's picture

You proceede from an assumption that the 150K each month were "in the workforce".  They may have simply shifted from lower to higher benefits on the dole.  Conversly, they may have shifted from WalMart greeter to 'retired'.  Thanks for creating an opening.

Sat, 02/05/2011 - 15:43 | Link to Comment Things that go bump
Things that go bump's picture

It was the Rapture.  Apparently, the rest of us weren't invited.    

Fri, 02/04/2011 - 22:22 | Link to Comment Pants McPants
Pants McPants's picture

I know I'm preaching (mostly) to the choir here, but this is downright criminal.

Fri, 02/04/2011 - 22:24 | Link to Comment topcallingtroll
topcallingtroll's picture

Hey guys click thru to goldline and how to stop debt collectors and all the ads. You might find something worthwhile and it probably gives zh some money. Buy a t shirt and wear it occasionally. I wish you hadnt dissed cramer so much he is a maverick.and sympathetic to the little guy. He called the bottom twice and was right the.second time and didnt hurt you if you went in at 8700 and held on. He is also now saying.gold to da moon! Maybe he will advertise again and support zero hedge. I watch cnbc all day and i can tell by the patterns.of.some of their comments that they check out td. Click on some ads and buy some t shirts bitchez.

Fri, 02/04/2011 - 22:27 | Link to Comment topcallingtroll
topcallingtroll's picture

And how about a t shirt that says Buy Gold Bitchez in memory of the guy who started it all. I forgot his name cuz i.dont see him post anymore.

Fri, 02/04/2011 - 22:26 | Link to Comment buzzsaw99
buzzsaw99's picture

Does this mean Ann Margaret is *not* coming?

http://www.youtube.com/watch?v=FpO0OV4mfvo

 

Fri, 02/04/2011 - 22:35 | Link to Comment mynhair
mynhair's picture

Get real.  Find a clip of Senta Berger.

http://www.youtube.com/watch?v=vWJEkcD1YXI

Fri, 02/04/2011 - 23:06 | Link to Comment Yen Cross
Yen Cross's picture

Ann Margaret is a beautiful woman. Whether before her accident or after.

Fri, 02/04/2011 - 23:22 | Link to Comment mynhair
mynhair's picture

Senta was better.  And, yes, Ann is a babe.  But, for redheads, Senta.

Fri, 02/04/2011 - 23:42 | Link to Comment buzzsaw99
buzzsaw99's picture

Both seem like class acts to me.

Fri, 02/04/2011 - 23:53 | Link to Comment mynhair
mynhair's picture

Yes maasa......god, we are old.

Sat, 02/05/2011 - 15:46 | Link to Comment Hephasteus
Hephasteus's picture

Well you're old ass has been paying some good attention for a long time and as an almost old guy I appreciate it.

Fri, 02/04/2011 - 22:31 | Link to Comment mynhair
mynhair's picture

Just for yuks, I agree with the population decrease.

Jan. is death month, and a ton of people have left the country.

Unfortunately, those that left, have money and are smarter than the average bear (hence left).

Voting proclivities are unknown.

Capital flight, bitchez!

Fri, 02/04/2011 - 23:01 | Link to Comment Gully Foyle
Gully Foyle's picture

mynhair

"Unfortunately, those that left, have money and are smarter than the average bear (hence left)."

I read an article about how illegal immigrants were returning home because they have better opportunities there than in the US.

Supposedly had a major economic impact on California.

 

Fri, 02/04/2011 - 23:25 | Link to Comment mynhair
mynhair's picture

Illegals leaving with SS, UE, and all the other assorted give-aways.

When your home country has an annual earnings level of $2700, this cit adds up, capice?

 

Fri, 02/04/2011 - 22:36 | Link to Comment oncefired
oncefired's picture

It just fucking sucks that every Government stooge just stands up and flat out lies. I have to come to this site for the truth and a bit of comic relief - "Iosif Shalom Bernanke" - HA!

Fri, 02/04/2011 - 22:39 | Link to Comment mynhair
mynhair's picture

Personally, I puke on every data point.  Bulimics are pussies!

Fri, 02/04/2011 - 22:42 | Link to Comment oncefired
oncefired's picture

I'm old enough to remember doing a deal with just a handshake! We are Screwed! These people have no Soul!

Fri, 02/04/2011 - 23:18 | Link to Comment Yen Cross
Yen Cross's picture

If you want to rant? I respect that. Just rant in a smart way. Thank you. EG; charts, trend-lines or policies. But hell I'm stuck in Cairns looking at flattened sugar cane fields, after flying on a puny g-5 all night through Brisbane.

Fri, 02/04/2011 - 23:28 | Link to Comment mynhair
mynhair's picture

My sister is down in Bundaberg, but guess that was out of the wind field.

Had a Cat-4 visit here, without permission.

Fri, 02/04/2011 - 22:54 | Link to Comment Temporalist
Temporalist's picture

David Stockman on CNBS ripping apart the unemployment numbers:

http://www.cnbc.com/id/15840232/?video=1780974568&play=1

 

Stockman - "Where is the half million jobs that were lost in the last 30 days that nobody talked about?  I'm talking about the once a year re-benchmarking of the number of absolute jobs in the economy.  30 days ago we're told there are 130.7 million jobs in the economy (December), this morning it was 130.2 (million jobs).  That's the half million."

 

Faber - "That's how we went from 9.4 to 9.0 (percent unemployment) of course because our denominator went down."

Fri, 02/04/2011 - 22:54 | Link to Comment mynhair
mynhair's picture

Saw that, and he wasn't kicked off.  Poor Mike Pento;  shills aren't allowed to speak truth.

Fri, 02/04/2011 - 23:01 | Link to Comment Temporalist
Temporalist's picture

The number that was reported this morning, the 130.2 million jobs, was a number first reached in 1999.  In other words, over the last 12 years, the U.S. has not created a job...according to the BLS (paraphrasing Stockman).

Fri, 02/04/2011 - 23:14 | Link to Comment Sockeye
Sockeye's picture

No net jobs in 12 years. Nothing to see here, moving on....

Fri, 02/04/2011 - 23:57 | Link to Comment HAL 9000
HAL 9000's picture

Well I don't think there is any question about it. It can only be attributable to human error. This sort of thing has cropped up before, and it has always been due to human error

Sat, 02/05/2011 - 05:10 | Link to Comment StychoKiller
StychoKiller's picture

Well HAL, it's hard to deny it.  After all, if YOU were to make a mistake, it was a Human that programmed you 2! 2! 2! 2!...

:>D

Sat, 02/05/2011 - 04:14 | Link to Comment RmcAZ
RmcAZ's picture

This.

http://research.stlouisfed.org/fred2/series/PAYNSA?cid=11

Last update shows 128,164,000 total nonfarm payrolls. The first time the 128m mark was crossed was November 1998.

Also in November 1998, the total population was 277,277,000. Now it is 311,256,000.

http://research.stlouisfed.org/fred2/series/POP?cid=104

So, we have 33,979,000 more people living in the U.S. than in 1998, and the exact same number of people working. Nothing good can be said about this. This is a recipe for absolute disaster... tax base, social security, medicare, budget deficits, trade deficits, you name it.

Fri, 02/04/2011 - 22:55 | Link to Comment Seasmoke
Seasmoke's picture

2 + 2 = 5

Fri, 02/04/2011 - 22:58 | Link to Comment Temporalist
Fri, 02/04/2011 - 23:09 | Link to Comment Yen Cross
Yen Cross's picture

2-2(2-2) plus 2 equals?

Fri, 02/04/2011 - 23:12 | Link to Comment mynhair
mynhair's picture

Pink.  It's all pink.  You deef?

Fri, 02/04/2011 - 23:25 | Link to Comment Yen Cross
Yen Cross's picture

equals 2. The number required to have an intelligent conversation.

Fri, 02/04/2011 - 23:33 | Link to Comment mynhair
mynhair's picture

Pink!  How can one have an intelligent conversation with one that is color blind?

Sat, 02/05/2011 - 01:13 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

2+2=fuchsia?

Sat, 02/05/2011 - 01:17 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

The sixties were a wild time.

Sat, 02/05/2011 - 12:32 | Link to Comment 11b40
11b40's picture

Which one is Pink? ; )

Sat, 02/05/2011 - 12:37 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

Heh.

Have a Cigar - Pink Floyd (Lyrics)

http://www.youtube.com/watch?v=vL4ia37G4Uw

 

Sat, 02/05/2011 - 01:09 | Link to Comment HAL 9000
HAL 9000's picture

4

Fri, 02/04/2011 - 22:57 | Link to Comment mynhair
mynhair's picture

Anyone care to pool for a bus fund to DC?

Leave.  Leave.  Leave Now.

Good chant for in front of 1600 Penn Av by 2 people.

That should work; lamestream can't do simple math.

Fri, 02/04/2011 - 23:01 | Link to Comment grunk
grunk's picture

I heard Rush Limbaugh refer to ZH website on his show today. He didn't seem to know who Tyler Durden was.

 

ZH going MSM?

Fri, 02/04/2011 - 23:03 | Link to Comment mynhair
mynhair's picture

Yep, twice ZH was mentioned, and Tyler once.

Anybody know who Tyler is?

Sat, 02/05/2011 - 05:12 | Link to Comment StychoKiller
StychoKiller's picture

My Daughter and I are in agreement:  We DO NOT want to meet Tyler Durden!

Fri, 02/04/2011 - 23:22 | Link to Comment Yen Cross
Yen Cross's picture

Rush is ok. I Really like Tyler!

Do NOT follow this link or you will be banned from the site!