Initial Claims Propaganda 101

Tyler Durden's picture

And just as we predicted moments ago, here comes the "mainstream" media.

As a reminder, we said seconds ago:

Instead of printing at the expected 370K, an improvement from last week's already big miss of 380K, this week came at a whopping 386K, the worst standalone print in 4 months. Well, until last week's revision that is: instead of the 380K print that stunned everyone, last week's number has now been revised to a massive 388K. Why? So that mainstream media can declare, with a straight face, that this week saw the number of initial claims decline!

Another way of visualizing:

Sad how predictable the government's lies and propaganda machine has become. Expect this week's number to be revised in the 390K+ range, just so the unrevised next week's print of upper 380K can again be a, you guessed it, decline.

For those not on the propaganda hopium dole, this is how YTD revisions look like, courtesy of John Lohman - over 90,000 additional layoff mysteriously not accounted for by the market's algos which never care about revised data.

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bmusic's picture

You have to give the robots something positive to chew on!

 

GetZeeGold's picture

 

 

Where's Waldo?

 

SilverTree's picture

Revised Upward %                                           100%

silver500's picture

Revised up every single week since February 2011.

Although to be fair, there is a clear downward trend:

http://i.imgur.com/WLmFK.png

tradebot's picture

They must will it downward

Pool Shark's picture

 

 

Of course, at some point there are no more workers left to lose their jobs...

 

Hard1's picture

Tyler, you are a genious!!!

TeresaE's picture

Or file first time claims.

Those people coming off their 52/99 (most states are now back to only 1 year of benefits, they kicked a bunch of long timers off in early March) weeks won't qualify to file again for thousands and thousands of dollars worth of wages.

At least 9-12 months, maybe more if they score a real crappy job.

The middle is being shoved/stomped into poverty.

Ain't crony-capitalism/oppressive government fun?

HoofHearted's picture

The downward trend is around the bowl and down the hole. It's the 99ers that are making things look better. Check out the LFP rate. Just asinine. This is all going to come crashing down, though the Ponzi masters have kept this charade going much longer than I would have thought possible. Hat tip to them.

And...Benjamin Disraeli was right....lies, damned lies, and US government statistics.

Hohum's picture

But a not so good data point is that YOY claims only down 14K.  Let's watch and see if YOY is soon higher.

TruthInSunshine's picture

There's a 100% chance that estimates will be artificially low, increasing the odds of a 'beat', and that even when the artificially lowered estimates get 'missed', it will be explained away by one-off factors (e.g. weather, gravity, theory of relativity, water-being-more-wet factor, not strong enough 'seasonally' manipulated adjustments, etc), and that when artificially lowered estimates get missed, they'll be revised further to show an even greater miss than initially reported.

And when the labor participation rate of 18-56 year olds is 50%, and the full time employed are working 28 to 32 hours a week at an average wage 40% lower than in their prior jobs, The Bernank and [insert POTUS Puppet of either 'different' Political Party here] will announce a much improved employment rate.

That's how the Ponzi rolls, bitchez.

pods's picture

In their defense, the water does seem to be wetter than usual?
Fucking El Nino!

pods 

squib's picture

'Where's Waldo?'

You can find Romney in Ohio today.

akak's picture

And where is our new Leo Kovilakis clone, the pollyannish Fed and BL(B)S shill Robert Bruscetta, to harangue us once again about how "the government data are not cooked", the real unemployment rate is 8%, and that all is well in the economy and financial sector?

scatterbrains's picture

but if the MSM is pumping this as good news still then it's because our master's don't plan to print just yet. It's when they start getting seriously negative on CNBC/WSJ that you should prepare for the print fest.

rwe2late's picture

The weekly preliminary initial claims report is ALWAYS revised upward

because it is based on PRELIMINARY reports from the local offices, and they cannot avoid having some pending  unreported claims being processed.

As long as the final number reported remains about level, or even rising slightly,

the preliminary can be compared to the prior week's final, and advertised as "falling" each week.

e.g.

week 1 -  prelim 347k , later revised to 355k

week 2 - prelim 349k ( a "drop" of 6k!) later revised to 357k

week 3 - prelim 351k (another "drop" of 6k!) later revised to 359k

and so on ...

LongSoupLine's picture

Fuck those crooked assholes.

jus_lite_reading's picture

Patience grasshopper... you'll get your chance!! 

Right now we must see as this system cannibalizes itself... notice how John Corzine walks away SCOTT FREE and nobody says diddly shit about it? 

GAME IS OVER 

Dr. Richard Head's picture

When will the infighting and under the bus throwing begin?  These sociopaths care nothing for anyone but themselves and rats trapped in a corner do tend to fight and bite to get their way out.  Plus, they don't care to whom they cause harm, so it would make sense for them to protect there positions. 

There is only so much currency out there to meet the oblications of these fraudulent debts.  Someone has to hold the bag of stinking shit and the retail side has no currency to play with. 

fockewulf190's picture

The Game is over? Ha! The Game is being played 24/7...it's just you and I and 99.999% of the population are not allowed to play.

ihedgemyhedges's picture

Their editor's initials must be: JG

EscapeKey's picture

BUY STOCKS! THIS IS A ONCE IN A LIFETIME OPPORTUNITY (to get your balls chopped off).

jus_lite_reading's picture

--> "There is NO better time to buy a home than right now..." - NAR 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012

--> "You better buy stocks NOW before they get expensive" - Insert any snake oil wall street fraud firm/bank just before they get ready to sell on margin pressure

Margin calls be a comin'

 

BLOTTO's picture

'Illuminati controlled' - Main Stream Media...

cossack55's picture

I would not defame a dead carp by wrapping it in a WSJ.

hedgeless_horseman's picture

 

 

No suprise when one considers who the big advertisers are in the WSJ.

 

jus_lite_reading's picture

Why is this stunning? We have known about this shit all along and should expect to see much more as the ponzi unwinds... I don't have a crystal ball but I can see the future by examining the former USSR and their final days... eerily similar!!!

TPTB know their time is limited

DeadFred's picture

I still don't quite get it. Yes you can fool the algos this way, but why not just program it to buy buy buy anyway? It's much cheaper than paying an editor to print drivel. Yes Joe Sixpack will see the headline and feel better but other than psyops to get Obama re-elected what's the point? Are there any carbon based traders still out there who are fooled by this? There's a big cost for being seen as total bag of lies, are the benefits to .GOV and WSJ worth the cost? Clearly they do or else it wouldn't be happening but I'm missing something that they are seeing.

jus_lite_reading's picture

>>"It's much cheaper than paying an editor to print drivel."<<

They don't get "paid" but their interest is in the indirect form... remember, the whole Wall Street game is predicated on a simple "clause" that "tomorrow everything will get better." They can be bearish for a short time to gain credibility but ultimtely they (as in the whole setup) must be bullish for the retail sucker or whomever to believe that they actually have a chance to make some "gains"...

80/20 is the ratio they must maintain... 

LowProfile's picture

 

I don't have a crystal ball but I can see the future by examining the former USSR and their final days... eerily similar!!!

Do you recall offhand how long did it dragged on after said propaganda started?

jus_lite_reading's picture

The first blow occurred in 89 but the whole then went under in 91... that said, past results do not guarantee furture returns so my best guess less than 24 months...

dbomb12's picture

Better stock up on toilet paper

LowProfile's picture

 

Better stock up.

Fixed it.

Boilermaker's picture

Well, guess what...it works.

It hard to sell subscriptions to an investment newspaper / site when the best advice is to not be an investor.  Same with CNBC, Bloomberg, and Fox Business, Barons.

Only the blogs are legit at this point.

The 'breaking news' sent to my phone was that the revisions were "dissapointing".  Wow, that's pretty harsh.

BLOTTO's picture

'Only the blogs are legit at this point.' - Good point and well said Boiler

Real journalism is dead...its all controlled with an agenda.

I'M not sure if even 'real journalism' ever existed in the MSM. My guess is no.

Bwahaha WAGFDSMB's picture

ZH seems to draw a pretty good crowd by printing truth.

mtomato2's picture

I mean this in the most literal sense possible:

God Bless Zero Hedge.

For me, it's been two-and-one-half- YEARS of deprogramming/reprogramming.

Zero Hedge.  There is no other.  Long live the Tylers.

 

Tomato

Dr. Richard Head's picture

I have said it before and will say it again - if it was not for this site I would still be shoveling my extra labor earned into these piece of shit paper investments. I have learned so much from ZH and the information here is the crystal ball. 

Perhaps that donate button is something I have neglected for far too long - http://www.zerohedge.com/donate

Purchase the piece of mind that comes with supporting the world's premier source of cutting edge market data and receive nothing in the way of actual products!  (Actually, your donations go first to cover the cost of our infrastructure.  Any overflow after that seems so far away that we haven't decided what to do with it yet.)

mtomato2's picture

Love your bio.  Keep it up. 

NeedleDickTheBugFucker's picture

People believe what they want to believe.

Boilermaker's picture

Affirmation confirmation...over and over.  If you want to hear good things, you'll seek someone to tell you just that.

Temporalist's picture

Just to point out the obvious, the same would apply for people visiting ZeroHedge to reaffirm their own "beliefs."

 

LawsofPhysics's picture

You are correct sir.  So much so that people will in fact believe that they are going to a "better place" even when they are being loaded onto rail cars.  Now where have we seen this all before?

CrimsonAvenger's picture

What a fool believes he sees
No wise man has the power
to reason away

-Doobie Brothers

knightowl77's picture

+1 That song was never ever more apt than it is for most people today

WonderDawg's picture

That song brings back memories of a fawn-eyed brunette from my high school days. Ah, those sweet memories of fresh poontang.

mtomato2's picture

BIG thumbs up for the reference.  Excellent recall.  Thanks.

Making a bumper sticker ('cause I CAN) of that right now.

nowhereman's picture

And disregard the rest,

Simon and Garfunkel