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.