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Data Massaging Continues: Initial Claims Tumble To 339K Lowest Since 2008, Far Below Lowest Expectation
This is just getting stupid. After expectations of a rebound in initial claims from 367K last week (naturally revised higher to 369K), to 370K (with the lowest of all sellside expectations at 355K), the past week mysteriously, yet so very unsurprisingly in the aftermath of the fudged BLS unemployment number, saw claims tumble to a number that is so ridiculous not even CNBC's Steve Liesman bothered defending it, or 339K. Ironically, not even the Labor Department is defending it: it said that "one large state didn't report some quarterly figures." Great, but what was reported was a headline grabbing number that is just stunning for reelection purposes. This was the lowest number since 2008. The only point to have this print? For 2-3 bulletin talking points at the Vice Presidential debate tonight. Everything else is now noise.
It is also sad that the US "economy" has devolved to such trivial data fudging on a week by week basis, which makes even the Chinese Department of Truth appear amateurish by comparison. Needless to say, Not Seasonally Adjusted initial claims jumped by 26K to 327K in the past week but who's counting. Finally, what is the reason for ongoing QEternity if the employment situation is now back to normal. Finally, in completely ignored news, because who needs global trade when you have toner cartridge, and generally ink, the US trade deficit in August rose by 4.1% to $44.2 billion, on expectations of a deterioration to $44.0 billion. Then again nobody talks about the US trade deficit during presidential debates so all good here.
Jobless Claims beat by the most since May 2009 and is the lowest since Jan 2008 - the new normal...
with the biggest 3-week drop since Jan 2006..
and the idiocy of relentless revisiosn continues...
as the six-sigma beat plays out...
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Another reason for companies to raise prices and squeeze the middle class more. In the mean time Bernanke keeps the QE pedal mashed to the floor to escalate inflation further.
Watch food and commodities rocket upward.
So this means all those people got a new job huh? Green shooooots!!!!
In Amerika, all number are good.
In Amerika you don't have bad numbers, bad number have you!
Like who didn't see this kind of thing coming from the BLS [Bureau of Lying Shitbags]?
http://vegasxau.blogspot.com
Can't the regime at least produce credible lies? I realize the regime is in blind panic mode, but their lies become more preposterous with each passing day.
I learned a very long time ago that the most critical step in solving a problem is acknowledge that there is one, then understanding it and finally solving it or having a plan to solve it. Once there you follow the plan and after a while "problem solved". This requires having a plan or roadmap. Which brings me to " if you don't know whre you are going you are NEVER going to get there"
These delusional lying assholes are not even past the acknowledging phase. They are so far from a solution that 's not even funny.
And the vastly ignorant American public is still focused on the stupid debates which don't even come close to addressing the issues as they have been swept under the rug by both parties
Now, what if we "forgot" to report California's election results in November? That is one large State and somebody may miss those electors.
Data massaging, the world's oldest profession.
Figures to be revised..... Nov 7th..
Did somebody say "Illinois"?
The people who are unemployed don't decide the unemployment rate, the people who count the unemployed do.
- Stalin
Just curious,if the govt was manipulating the data, and it was discovered, would market manipulation be charged???? and to whom????
HAHAHAHAHAHAHA. And who would be pressing said charges, Eric Holder? HAHAHAHAHAHAHAHAHA
If you were to axe him, he would tell you he cannot speak about it or reveal any evidence because it is all under investigation. "Under investigation," the term coined by Janet "Lurch" Reno to describe the black box where the guv puts all unhelpful reality. "Shush now, trust us, or maybe you're just complaining because you fear an IRS audit would reveal something you'd rather not have revealed, hmmm?"
this was a rethorical question.....sort of liek if a tree falls in the woods
All incumbents, Rebulican or Democratic may get a halo effect from the propaganda so I wouldn't deem this type of prevarication as partisan. This is just the way that the two-party crime syndicate rolls.
All incumbents, Republican or Democratic may get a halo effect from the propaganda so I wouldn't deem this type of prevarication as partisan. This is just the way that the two-party crime syndicate rolls.
A question arises in my mind, how many Americans are still dumb enough to beleive these magical and oh so headline ready improvements? How many are yet unaware of the constant revising after the headline has had its intended effect, quietly and unreported? Not many one would think, but then John Stewart does not realize that we have an outstanding debt of $16 trillion dollars, and thinks that Clinton actually had a $100 billion dollar surplus in the late nineties. Wonder what he did with all that cash? Since most Obama sheeple get their "newsy-news" from Stewart and NPR, what are the chances they have the slightest inkling what has been going on lo these last four years?
Just a flash crash. The Wall Street algos are invasive to any data set. Watch out for your heart rate, friend count, Klout ratings, ...
Older employees are being laid off. My sister, age 60 and the other older of the special ed teacher's aides were riffed prior to the start of the school year. So, early retirement is being forced. Plenty of part-time jobs to minimize benefits. This is only a 20 year old practice. Employers like competition - in the workforce at the bottom.
Any wage is a fair wage. Oops, a moral flash crash.
Hey new arrivals, take a look a this...http://www.shadowstats.com
The equity market pallyers will fade this figure...slowloy....always checking for when the Fed or their puppets begins to bid the ES up again.
Might have to go to 1400 on the ES before we see the "invisible hand" of the Fed begin to send in bids.
Following are three quotes that capture what appears to be happening relative to information that is being released:
1) "All this was inspired by the principle--which is quite true within itself--that in the big lie there is always a certain force of credibility; because the broad masses of a nation are always more easily corrupted in the deeper strata of their emotional nature than consciously or voluntarily; and thus in the primitive simplicity of their minds they more readily fall victims to the big lie than the small lie, since they themselves often tell small lies in little matters but would be ashamed to resort to large-scale falsehoods. It would never come into their heads to fabricate colossal untruths, and they would not believe that others could have the impudence to distort the truth so infamously. Even though the facts which prove this to be so may be brought clearly to their minds, they will still doubt and waver and will continue to think that there may be some other explanation. For the grossly impudent lie always leaves traces behind it, even after it has been nailed down, a fact which is known to all expert liars in this world and to all who conspire together in the art of lying."—Adolf Hitler , Mein Kampf, vol. I, ch. X
2) "In our country the lie has become not just a moral category, but a pillar of the state."---Alexander Solzhenitsyn
3) A lie told often enough becomes the truth. ---Lenin
Shame is not word in their vocabulary who play so loosely with the truth.
Jobless nos explained.
Ca under reported by 15k to 25k
http://www.businessinsider.com/what-happened-with-jobless-claims-2012-10
BLS stands for:
Discuss.
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