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Why do we even pay attention to the economic numbers when we know they are manipulated and distorted?
Who junked CD for THAT comment????
I have a shadow junker who, when he or she can actually drag their ass out of bed in the morning, follows me around Zero Hedge all day junking every comment I make. Some days s/he sleeps in and other days s/he is active.
I consider it an honor that I'm stalked.
Yep.... got me a secret admirer or two as well...
I'm good for seems like at least 2 or 3 even if I post 2+2=4
I once got junked for posting e^(i pi) + 1 = 0
Grima, is that you slinking around again? I mean that is now twice I have been junked for
e^(i pi) + 1 = 0
I take it as a badge of honor..
Why do people continue to bitch about junks? It has always been, and continues to be, ZH's most asinine feature. *Junk* is useless, it doesn't deter the trolls, and many people take offense when they see valid comments negatively marked as such.
I remember when ZH had the +1.
I guess such 'data' keeps the 401K bathrobe brigades watching CNBC amused.
I UNJUNK THEE!
Agreed. Too much "new math" and not enough fact.
Peter Schiff put it something like this (roughly quoted):
The government sees nothing as wrong. Five years ago a family lived in a Mc-Mansion, spent $1000 dollars a month on heating and $500 a month on groceries. They are doing the same now.
The difference they don't see is that they are now huddled heating 2 rooms of the house, behind on their mortgage and now the $500 of groceries per month includes dog-food and raman.
Well yeah. Don't you see? The house has lost value so that balances out the loss of quality in living.
But seriously, I've debated with numerous people who really think that is true.
But then the distortions are revised on the following release.
It shows 2 things that are important:
1. Spending is up because rising food prices and gas prices
2. More money goes to basics, so less money goes to luxeries.
That is important because it gives a previes to the sales numbers of luxery goods that will be down.
Don't forget income didn't go up accordingly.
Wages and Salary Income only....up 0.3%
Government Transfers ......up 1.1%
We're going in debt to pay ourselves.
tax filing refunds peak in March.
40+ million food stamp recipients. 2+ million in US jails (food AND board included). Only 50% of eligible US tax payers actually pay tax.
The new economy: we'll do each others laundry
The new economy: we'll do each others laundry
Spot on. I was thinking someothing smimilar when I read that McDonald's hired 62k workers... service based economies last how long again?
Yes McD's supposedly hired 62K, but the same story also reported 850K applications for part time min wage jobs were turned away! The real story.
and the even more real story is you can't run an economy on fast-food alone.
We'll give it a damn good try for sure.
Or that it takes 1 hour of work to purchase said 'value meal' with fries and a drink.
How many people have gone somewhere, ordered a premium burger or whatever, got the curly fries, and the large drink, handed them a 10 spot, and got a quarter and a penny back?
The people that work at fast food, can no longer afford to eat fast food. Uh oh.
Now of course some places give you free/discounted food...but that's one place.
It's just sad we live in a country where the value menu at the cheapest of places, is unaffordable.
That and a million people (there were over a million applied), many with college degrees, were turned away from working at a place, that can't even pay for a value meal at one of it's competitors for 1 hour of work.
People feelin flush now that they got that cherry job at Mickey D's...
Diamond encrusted Filet'o'Fishs, bitchez.
oooo trickle me!
We will absolutely know the SHTF when Taco Bell puts the salsas behind the counter. "Sorry, two per item. There's a 25 cent surcharge after that."
awesome, more crap to ignore.
come on, zh readers ignore the numbers that dont further our cause, but jump all over the numbers when then do?
I dont know who youre talking about, I've said 'ignore these forged govt documents' for many years. Besides its always last months data 1930's style economic reporting so who cares?
Wall St can now HFT trade and shave 1/4 point at the speed of light, but all we can see is thru the rear view mirror to last month? All BS.
So the govt numbers are all legit? How's that 2% a year inflation thing working out for you?
Figures don't lie but liars can figure. Read between the lines
All about keeping things looking normal to keep the panicky herd placated a bit longer till the wheels fly off this rickety unstable contraption hurtling down the hiway.
These numbers just don't tell us anything about the distribution of personal income and savings. It is entirely possible that the personal income and savings of a majority of Americans dropped, but income and savings of the top 0.1% increased dramatically. That has been the trend lately.
The top .05% have never been wildly richer! Just read an article about a $100 million home being bought by some hedge fund manager, so he could tear it down and build a $250 million dollar home!
A 0.1% variation in any of these stats is NOISE. It has no meaning whatsoever, even if you did believe it was true.
Icanhaz rally now?
Seems to me that people are waking up to the fact that if you don't spend today, it will cost more tomorrow. This despite the fact that there is no inflation (core), those evil speculators are pushing up prices (does that include the FED/Stocks?), and the economy is growing (not sure what it's growing, but it must be some good stuff).
Is this just the warmup for the main event, where we have to buy things as soon as we get paid because if we go to bed they will cost more when we wake up? Just wondering......
From looking at the data, it seems the largest growing item of income is government payments of social security. I think the only number we need to know is 2011-1946=65. We will see a growing number of people who are dropping out of the workforce and beginning to draw social security.
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