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Eurostat Fabricates European Inflation Data, Apologizes

Tyler Durden's picture




 

When it comes to openly fabricating data, 2014 was bad for goalseeked data quality control: first it was the ISM's infamous climategate, where for some reason everyone in the organization missed that the June press release contained a wrong seasonal adjustment factor (why one seasonally adjusts a survey is still clear to nobody), and then even more comically, after releasing absolutely terrible jobs data in August, Canada laughably revised it to far above the highest estimate, in the process confirming that both ISM and Canadian jobs data is absolute rubbish and is made up on the fly to satisfy ministry of truth mandates.

Now we can add European inflation data, because apparently this morning's Eurostat release, which showed the lowest headline inflation since 2009 and the lowest core inflation ever was not precleared by Europe ex-Goldmanite money printer, Mario Draghi, and as a result this...

became this...

 

But at least Eurostat was kind enough to apologize that it had released made up data (on both accounts).

That's ok: we forgive you dear Eurocrats for making it clear that European inflation data is merely the latest data point that has absolutely zero credibility and is merely goalseeked to "validate" and fast-track the ECB's money printing which has long since been decided.

Source: Eurostat, for those who wish to forgive Eurostat personally, may do so here.

 

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Tue, 09/30/2014 - 11:01 | 5270803 Doubleguns
Doubleguns's picture

Must of added the winter gas price in the calculations ahead of schedule. 

Tue, 09/30/2014 - 11:13 | 5270854 Latina Lover
Latina Lover's picture

Hmmm,  an official denial.

 

If they admit to lying, then the numbers must be true.

Tue, 09/30/2014 - 11:01 | 5270805 LULZBank
LULZBank's picture

So sorry, We only fabricated it this time Bitchezz!!!

Tue, 09/30/2014 - 11:06 | 5270819 Supernova Born
Supernova Born's picture

"This is the War Room, gentlemen! How dare you fight in here!"

Tue, 09/30/2014 - 11:44 | 5270974 Stoploss
Stoploss's picture

Brrrr....

Tue, 09/30/2014 - 11:11 | 5270833 pound the vix
pound the vix's picture

Is it me or are those two data charts exactly the same?

Tue, 09/30/2014 - 11:12 | 5270845 taketheredpill
taketheredpill's picture

 

 

Sept 2013 is now 1.1% not 1%.  Not sure why this table matters.

Tue, 09/30/2014 - 11:31 | 5270925 SumTing Wong
SumTing Wong's picture

Actually the shading is one box down from where it should have been. 0.7 above and 0.8 below.

Tue, 09/30/2014 - 11:36 | 5270944 Ghordius
Ghordius's picture

huge difference. huge difference /s

Tue, 09/30/2014 - 11:11 | 5270834 Dr. Engali
Dr. Engali's picture

Wake me when we get a data point that hasn't been fabricated.

Tue, 09/30/2014 - 11:11 | 5270835 taketheredpill
taketheredpill's picture

 

 

What changed?

Tue, 09/30/2014 - 11:16 | 5270869 LULZBank
LULZBank's picture

People's perception. Eurostat's data is carefully vetted and any mistakes or omissions are duly corrected once they are brought ot light.

Dont worry, you are in good hands.

Daddy loves you. Muah

Tue, 09/30/2014 - 11:11 | 5270837 Cognitive Dissonance
Cognitive Dissonance's picture

"Always beg for forgiveness rather than ask for permission." - Sociopath's creed.

Tue, 09/30/2014 - 11:14 | 5270858 Kaiser Sousa
Kaiser Sousa's picture

hey guess what...
the markets rocketed higher starting right in the last hour of trading in London....
and the phony paper price of Silver tanked at the same time...

http://www.kitco.com/charts/livesilver.html

SHOCKING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Tue, 09/30/2014 - 11:15 | 5270863 desirdavenir
desirdavenir's picture

errr... I see only two 0.1 percent changes in the table, caused by unprocessed food in May, and not highlighted. Why is it so bad ?

 

Tue, 09/30/2014 - 11:28 | 5270918 Itinerant
Itinerant's picture

It isn't so bad, imperceptible revisions. Point is, how is that even possible, assuming the numbers are calculated on the basis of (automatically processed input) data?

Tue, 09/30/2014 - 11:42 | 5270959 desirdavenir
desirdavenir's picture

maybe, but imperceptible is the right word : 0.1% of 7% in the May data, possibly enough to change a rounding from 0.7 to 0.8%.

Actually, what baffles me much more is that people consider statistical figures up to this precision. I guess if Eurostat (and others) were to publish the margins of error, this 0.1% wouldn't even register...

edit: actually, the proper word would be margin of uncertainty, not margin of error...

Tue, 09/30/2014 - 11:17 | 5270877 Bell's 2 hearted
Bell's 2 hearted's picture

the only change is the number above highlighted ... revised +0.1%

 

headline still the same

 

big whoop

Tue, 09/30/2014 - 11:20 | 5270892 FieldingMellish
FieldingMellish's picture

...I am shocked...

Tue, 09/30/2014 - 11:22 | 5270902 kchrisc
kchrisc's picture

A Winston Smith economy.

An American, not US subject.

Tue, 09/30/2014 - 12:06 | 5271055 vegas
vegas's picture

Learning how to lie from the very best group of PhD's the planet can produce; the USSA Bureau of Lies & Statistics [aka BLS]; and then when caught give the "whoops our bad" please resume central planning bullshit.

 

www.traderzoo.mobi

Tue, 09/30/2014 - 12:09 | 5271063 NoTTD
NoTTD's picture

Well, as long as you don't need food and energy, no problem.

Tue, 09/30/2014 - 12:14 | 5271076 Herdee
Herdee's picture

After the Canadian data was fabricated,Harper was sent off to the Ukraine on behalf of the CIA to help a gang of neo nazi thugs take over and ruin their economy.Harper nothing but a big bellied fat swine.

Tue, 09/30/2014 - 12:33 | 5271141 Seize Mars
Seize Mars's picture

The state: everything they have is stolen and everything they say is a lie.

Tue, 09/30/2014 - 13:50 | 5271384 KnuckleDragger-X
KnuckleDragger-X's picture

hmmm....

Let me just stick the tip in and see how it feels...

I promise I won't come in your mouth....

Of course I'll still respect in the morning.....

Who are you going to believe me or your lying eyes.....

Tue, 09/30/2014 - 15:07 | 5271698 homonohumanus
homonohumanus's picture

Who cares about numbers anyways?  Geeks?

 

I'vs just found that according to some quite serious studies the estimated numbers of unemployed and unwillingly under employed (~ one third of the total) should be now well north of 9.5 millions people.

The working force is about 29 millions, with 5.5 millions Stateworkers, 1 millions working from (direct) states subzidizes, the  rest being in the private sector, that put the unemployement rate in private sector at ~39% according to the same studies.

 

There are 37 millions "fiscal household" only 17 millions pay tazes, actually within that group 20% (the real middle class or what remains from it...) provides 80% of the money.

 

Now you have: 5.5 millions  state workers (or with similar statuses), 1 million private workers working on state (or local government) money, 3.3 millions touching unemployment money /chomage, 1.3 millions with what would be food stamp in US. You also have various level of help you can get wether or not you work if you are poor enough like some money to pay the rent, money when you get a third kid, etc.

 

Now tell me how which world France deficit would only be 4%? I guess a world full of unicorns. All in all and putting things into perspective I think those guys from Eurostats are pretty competent. You guys should give them a break /troll

 

 

 

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