True Orwellian deception once again rules the day. The stock market is bouncing with vigor on the weekly jobless claims report, which showed about 27k less new jobless claim filings than was expected.
But let's examine the report itself to see what's going on. Because of the holiday week, NINE States ended up not reporting their jobless claims, including California. The jobless claims number reported was estimated for these 9 States. That completely invalidates, from a statistical sampling context, anything reported and celebrated (how the hell do you celebrate a few less claims for unemployment welfare than was expected anyway?). As Bloomberg reports:
For the latest reporting week, nine states didn’t file claims data to the Labor Department in Washington because of the federal holiday earlier this week, a Labor Department official told reporters. As a result, California and Virginia estimated their figures and the U.S. government estimated the other seven, the official said. (Here's the article link: Another Govt Joke)I really don't think this situation requires my editorial rhetoric. It stands out by itself as yet another example of the ways in which our Government goes to great lengths in order to hide the truth and proliferate deception and lies. As a matter fact, the Truth about this jobless claims report was not even contained in the actual BLS news release, as you can see for yourself: BLS BS. As you can see from the Bloomberg news release, the Truth was revealed in the media interview of the BLS official. Very few people who follow the news will ever see this subtely.
The most irritating and absurd aspect of this is that Obama was elected on a platform in which he promised more transparency and truth in Goverment. Not only has Obama completely failed in this regard, he is actually more deceitful than his predecessor. It just gets worse as time goes on. The system is completely broken and the continuous and inexorable descent into complete Orwellian Totalitarianism is occurring irrespective of which political party is in power.
Please do have Hope for anything to Change when the voters hand Congress back to the Republicans in November. The best outcome of that will be to neutralize Obama. President Obama becomes Lame Duck Obama and good riddance to Nancy as the capo di tutti capi of the House.
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I hear you Dave. I think what we are seeing is the last vestige of absolute power corrupting absolutely just prior to utter collapse.
ReplyDeleteJoe M.
Off topic. http://www.financialpost.com/news/business-insider/Victims+pose+agents+money+back+from+alleged+Ponzi+scheme/3500761/story.html
ReplyDeleteApparently some investors in a ponzi scheme took matters into their own hands and posed as FBI and SEC officials demanding payment. The 'posers' are now on probation or under home improsonment.
Who wants to bet these creative and desperate individuals get punished more severely than the ponzi operators? Can't have vigilante justice can we; even if its the only true justice out there.
All is well in the land of the free and the home of the brave.
You're off the deep end, as usual.
ReplyDeleteThe BLS is required to release these weekly data. There is no intent to deceive or hide anything in today's number. They cannnot control the lack of reports coming from nine states. And that fact was not "hidden".
Your ire is misdirected, and misguided. Instead, look at the REACTION to this data, which should have been dismissed by traders as incomplete, but wasn't. The futures and quant guys ran with it to gun the market early today on low volume on a high holy day. Very suspicious and screwed up behavior by the HFT and algo guys. You gonna blame the BLS and Obama for that too?!?
You take any, ANY, opportunity you get to bash Obama, and frankly, if you keep doing it no matter what the pretext, the more you just make yourelf look silly. Yeah, 1st Ammendment, freedom of speech, yada yada yada. I agree....freedom of speech is there to allow guys like you to espouse terrible speech. Just look at the pastor who wants to burn the Koran. He's like you too, a bigot!!
Also, stop with this utter nonsense about us descending into totalitarianism. It's so baseless fear-mongering on your part. Just because gold was weak today, you didn't have to have a hissy fit.
LOL. Anonymous you're an idiot. Just that fact that you think I don't know what the deal is with the weekly BLS reports tells me you are a complete dope. I scour this report every week and have for over 9 years.
ReplyDeleteThey typically should have at least disclosed in a footnote that 9 States did not report. That is beyond material, especially since California is the most populous State. But of course, shills like you don't bother analyzing/understanding/reading footnotes.
If the media had not asked, the factoid would not have been disclosed. Grow up and get some awareness.
Hey, you fucking apologist Anonymous, who pays you for your contributions? Who cares who the damn incumbent is? All of them are alike however their name or party is! Troll away!
ReplyDeleteGreat post Dave and I liked it tonight.
ReplyDeleteOn another note...
NFL is here!
Go SAINTS!
NO 31, Min 21
I meant to type "linked it"
ReplyDeleteHey GYC. Thanks for the link.
ReplyDeleteSo far it's a good game. I'm so stoked NFL is here. I hope they get a new CBA done so we have it next year too.
LOL Fauvi. You tell him!
ReplyDeleteThere is also great chart about deceiving behind BLS statistics.
ReplyDeleteThe BLS is required to release these weekly data. There is no intent to deceive or hide anything in today's number. They cannnot control the lack of reports coming from nine states. And that fact was not "hidden".
ReplyDelete-------------
Oh STFU let me guess Rose Colored PJ's to match your Rose Colored glasses....your an idiot who obviously is clueless as to what is going on here. Its called Propaganda fool look it up. It amazes me the fools that still fall for the daily Mem if you will. Let me guess Obama for president stickers all over your SUV.