SOME PERSPECTIVE ON THE “FANTASTIC” JOB NUMBERS
It certainly looks like the establishment is making an all-out push to get Crooked Hillary elected. The liberal, in the bag, mainstream media is hyperventilating at each faux pas supposedly being committed by Trump. The vitriolic attacks by faux journalists on the establishment propaganda media outlets is off the charts, as 90% of these worthless talking heads, bimbos and scribblers are Democrats.
Anyone with two brain cells knows the government (aka establishment) falsifies data to achieve their agenda. They manipulate, seasonally adjust, modify, and massage the data to achieve a happy ending for the people who pay their salary. Shockingly, with three months left before the election, the employment numbers are soaring, according to the numnuts at the BLS.
Does this awesome data pass the smell test? Let’s see. GDP has been growing at 1.2% for the last year, even using the manipulated inflation deflator. In reality, GDP is really negative. Announced layoffs by the biggest companies in the US, according to Challenger, Grey and Christmas were up 19% in July versus June. The very same government reporting 255,000 new jobs in July also had to report payroll withholding taxes, which can’t be faked easily. July receipts were down 1% versus last year. According to the BLS 2.7 million more Americans were employed this July versus last July. How could tax withholding receipts possibly fall? They couldn’t. Someone is lying.
Corporate tax payments are down 11% YTD as corporate earnings are falling for the 5th quarter in a row (only happens in recessions). Do corporations go on a hiring binge when revenues and profits are plunging? I don’t think so. The answer to the BLS’ ability to fake the numbers lies in the good old birth death adjustment. It seems the BLS added 115,000 phantom non-existent jobs to their calculation for July.
They want you to believe new companies added these jobs. We know for a fact that more small businesses are closing than opening, as Obamacare and all the other Federal bullshit crushes them. In reality, it is more likely 115,000 jobs were destroyed than created. These false numbers will be adjusted away on Friday night, five years from now. Who coulda knowed?
The real tell about these fantastic numbers is the fact the Federal Reserve continues to suppress interest rates at zero bound, despite these tremendous jobs numbers. The last time the unemployment rate was this low, interest rates were above 4%. Are we still in an emergency economic situation if unemployment is really 4.9%? Ask Janet.
Here is some perspective on the awesomeness of today’s propaganda press release:
- According to the Household Survey, the country has added 443,000 new jobs over the last five months. Meanwhile, the number of working age Americans increased by 1.043 million. But, by the miracle of government accounting and manipulation, the unemployment rate remained at 4.9%.
- Things are so great in the good ole US of A that 645,000 Americans decided to leave the labor force in the last five months, 46% more than got jobs.
- Things are so great that the labor participation rate and employment to population ratio declined since February and hover at 30 year lows – at levels back during the wonderful Carter years.
- In more great news, the number of men over 20 years old employed dropped by 79,000 versus June. This July “surge” couldn’t be driven solely by temporary teenage employment. Could it?
- A little digging into the hundreds of tables provided by the BLS reveals some truth. According to the Household Survey, there were 420,000 more Americans employed in July versus June. Sounds terrific. Until you find out how many were part-time jobs. A total of 309,000 of those jobs were part-time, or 74%. These are shit paying, no benefits, Obama service jobs, mostly going to teenagers.
- The truths above explain the drop in tax receipts and the shitty 2.6% wage growth seen by workers across the country. When your wages aren’t growing and your real expenses for rent, food, taxes, and healthcare are growing at above 5%, you’ve got the American dream of 2016.
So there is a little cold water on the establishment narrative. You won’t hear these truths on CNBC or any of the other captured MSM propaganda spewing stations. Their job is to get Crooked Hillary elected so they can continue their raping and pillaging of the American countryside. Don’t believe anything you see in the MSM or government reports.