Category: Economic Statistics
The analysis published under this category are as follows.
Saturday, May 25, 2024
Government Tinkering With Prices Is Like Hiding All of the Street Signs / Politics / Economic Statistics
By: MoneyMetals
Governments constantly tinker with prices. Government people claim it's in our best interest, but price manipulation creates all kinds of unseen negative consequences.
Sometimes governments set price ceilings, mandating that the cost of something can't rise above a certain level. One example we see often is price gouging laws. In extreme cases, the government will even implement price controls. President Richard Nixon did this in the 1970s.
Sometimes governments set price floors such as minimum wages (After all, a wage is simply the price of labor).
Friday, May 10, 2024
Biden's Bureau of Labor Statistics is Cooking Jobs Reports / Economics / Economic Statistics
By: MoneyMetals
Last Friday’s Bureau of Labor Statistics employment report showed that U.S. employers added some 175,000 jobs in April.
But while April’s numbers captured most of the headlines, the same jobs report also contained downward revisions for earlier this year, with the BLS admitting that “employment in February and March combined is 22,000 lower than previously reported.”
Friday, September 22, 2023
The Full Employment Lie / Economics / Economic Statistics
By: Nadeem_Walayat
Today's narrative is that the Fed needs to force unemployment higher to cause demand destruction to bring inflation under control. Only one problem is that just as CPI is a FAKE inflation measure so is the Unemployment rate. They have fiddled the stats to such an extent that today's 3.6% unemployment is more like 10% for your grandfathers unemployment as shadow stats once more illustrates, Just look at the spread between REAL unemployment and fake UNEMPLIE 25% vs 3.6%! Seriously they are taking the piss, treating the masses like idiots! Unfortunately the Econofools perpetuate this LIE across MSM, so there you have it US unemployment rate is a lot closer to 25% than 3.65%
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Tuesday, October 22, 2019
Fake Numbers Fueling the Wage War on Wealth / Politics / Economic Statistics
By: Rodney_Johnson
I’m stupid about the cost of a lot of things. I don’t mean uneducated, or lacking knowledge. I’m talking about downright dumb as a stump. Thank goodness the Bureau of Labor Statistics (BLS) is around to set me straight.Take my television, for instance.
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Tuesday, January 08, 2019
Wall Street Drools over Fishy Jobs Report / Stock-Markets / Economic Statistics
By: MoneyMetals
The Bureau of Labor Statistics delivered a blowout jobs report on Friday. Headline chasing algorithms and investors responded by snapping up stocks. They also sold some gold and silver futures, driving prices lower on the day.
To Wall Street cheerleaders, it looked like the stock market correction might be over and precious metals would be headed out of fashion, once again.
It looked like something else to anyone who read past the headlines. What a Potemkin Village the markets have become!
Tuesday, June 12, 2018
The Dangers of Investing Based on Phony Government Statistics / Economics / Economic Statistics
By: MoneyMetals
President Donald Trump recently took to Twitter to boast, “The U.S. has an increased economic value of more than 7 Trillion Dollars since the Election. May be the best economy in the history of our country. Record Jobs numbers. Nice!”
“We ran out of words to describe how good the jobs numbers are,” reported Neil Irwin of the New York Times, amplified in a Trump retweet.
If you believe the headline numbers, joblessness is at a generational low with the economy booming.
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Thursday, November 24, 2016
Another US Election Year, Another Bunch Of Fake Economic Growth Numbers / Economics / Economic Statistics
By: John_Rubino
Some pretty good economic reports have energized various parts of the financial markets lately. Consumer spending is up, GDP is exceeding expectations and even factory orders, that perennial downer, popped this morning.
In response the dollar is soaring and interest rates are at breaking out of their multi-decade down-channel. The economy is clearly recovering, implying a return to normality. Right?
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Tuesday, September 06, 2016
GDP is more of a fuzzy reflection of the Economy / Economics / Economic Statistics
By: John_Mauldin
GDP is a fairly recent statistic. Though it is malleable in its construction, it can be contentious in its application. Yet the media tend to release GDP numbers as if they are an accurate reflection of the general economy.
GDP is one economic model among several that could serve the purpose. But its use can lead to policies that reflect the thinking of a particular school of economic, monetary, and fiscal policy.
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Friday, September 02, 2016
Psychological Manipulation & Economic Deception are now the Order of the day / Economics / Economic Statistics
By: Sol_Palha
A man has free choice to the extent that he is rational. St. Thomas AquinasIt is possible if one takes the right actions to make money and remain relatively unscathed in such an environment. One cannot say the same for the masses because they are walking with their eyes wide shut. In other words, they do not see what’s happening; their heads are stuck in the sand. They are oblivious to what’s going around, and if you try to warn them, they are apt to strangle you. This situation is strikingly similar to “Plato’s allegory of the cave.”
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Saturday, July 16, 2016
Ireland’s Bogus 26% GDP Economic Boost / Economics / Economic Statistics
By: MISES
Jonathan Newman writes: Ireland’s Central Statistics Office updated their 2015 national income figures and revealed a staggering 26.3% increase in real GDP from 2014 to 2015.
Paul Krugman called it “leprechaun economics.”
Joseph Salerno said “that’s unbelievable!”
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Tuesday, June 07, 2016
The Illusion of Falling Official 'Unemployment' Fades / Economics / Economic Statistics
By: MoneyMetals
Friday's employment report featured the headline unemployment rate falling from 5.0% to 4.7% - which is a huge move lower. About the only encouraging aspect of the report is that markets largely ignored the fantasy headline for a change and focused on the ugly details. Nearly everyone acknowledged the report as bad news and markets reacted accordingly.
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Friday, June 03, 2016
Funniest BLS US Jobs Report Ever! / Economics / Economic Statistics
By: James_Quinn
Only a captured government drone could put out a report showing only 38,000 new jobs created, with the working age population rising by 205,000, and have the balls to report the unemployment rate plunged from 5.0% to 4.7%, the lowest since August 2007. If you ever needed proof these worthless bureaucrats are nothing more than propaganda peddlers for the establishment, this report is it. The two previous months were revised significantly downward in the fine print of the press release.
Saturday, April 30, 2016
US Economic Statistics LIES, LIES AND OMG, MORE LIES / Economics / Economic Statistics
By: James_Quinn
It’s that time of year again. It’s open enrollment for health plans at my employer. They are biggest employer in Philly and have the most leverage possible with the insurance companies. They have such good leverage that my premiums are going up “only” 9.8% this year for a basic HMO plan. Based on what I hear from others, I should be thankful for just a 9.8% increase.
This isn’t a new development. Since I’ve been tracking all my expenditures using Quicken since 1991, I know exactly what my annual health insurance costs have been every year. Obamacare was passed in 2009 and began to be implemented in 2010. Obama declared that families could expect $2,500 of savings per year. I know for a fact my annual medical expenses were $2,000 higher in 2015 than they were in 2010.
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Friday, March 04, 2016
Lies, Damn Lies, & BLS Economic Statistics / Economics / Economic Statistics
By: James_Quinn
“There are three types of lies — lies, damn lies, and statistics.” ― Benjamin Disraeli
It’s my favorite day of the month. The Bureau of Lies & Scams issues their double seasonally adjusted, massaged to provide a happy ending, birth death adjusted unemployment propaganda, designed to keep the masses in the dark about their own dire financial circumstances. Even though the equally manipulated GDP is at 1% or below, retail sales are plunging, corporate profits plummeted by 15% in the 4th quarter and Challenger & Grey corporate layoff announcements were up 42% in January versus last year, our fraudulent friends at the BLS announced glorious employment figures this morning.
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Tuesday, January 19, 2016
China Fake Economic Statistics - Everybody’s Doing It / Economics / Economic Statistics
By: John_Rubino
Yesterday’s post on the unreliability of China’s official numbers attracted comments that were mostly along the lines of “people who live in glass houses shouldn’t throw stones.” That is, where does an American get off criticizing the honesty of another government’s reporting practices? Some samples:
Read full article... Read full article...Not to put too fine a point on it but do you trust US GDP numbers? Unemployment numbers? Inflation numbers? Which country, if they posted totally true and accepted numbers, would have the larger impact on global markets? The biggest economy or the second biggest economy? Just saying….
Tuesday, December 08, 2015
Do You Follow The Hype Surrounding Economic Reporting? / Economics / Economic Statistics
By: Rodney_Johnson
When my children were young, one of the books we read to them was: “When You Give a Mouse a Cookie.” The point of the book is to follow a chain reaction stemming from providing a treat to a rodent. He will want a glass of milk, a napkin, have to sweep up crumbs, etc. It was odd, but entertaining.I’m often reminded of this book when I see economic reports. It’s not that the numbers are frivolous, but taken as individual data points they can’t mean very much.
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Monday, September 14, 2015
U.S. Unemployment Rate - A Dirty Game of Numbers / Economics / Economic Statistics
By: Chris_Vermeulen
The newest addition of the Bureau of lies’ newest falsified and manipulated document about the employment figures is now out, available for viewing of the ignorant masses. The makers of the report will make sure that they drum it up for the whole world to hear, so that their plans of treachery and deceit stay well on course. Even the mature financial minds at Wall Street will accept it, because they are always in search of positive news to help their financial interests in the market.
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Monday, September 07, 2015
U.S. Real Wealth Weaker than GDP Stats Show / Economics / Economic Statistics
By: Frank_Shostak
US real gross domestic product (GDP) grew faster than initially thought in Q2. GDP expanded at a 3.7 percent annual rate instead of the 2.3 percent rate reported last month and 0.6 percent in Q1. Most experts, in response to this figure, are now arguing that the US economy is strengthening visibly.
This, coupled with a relatively stable price level, raises the likelihood that the economy is approaching the path of healthy economic growth with stable price inflation.
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Sunday, July 19, 2015
Lies, Damned Lies and Statistics / Economics / Economic Statistics
By: James_Quinn
The government released their monthly CPI report this week. Even though it came in at an annualized rate of 3.6%, they and their mouthpieces in the corporate mainstream media dutifully downplayed the uptrend. They can’t let the plebs know the truth. That might upend their economic recovery storyline and put a crimp into their artificial free money, zero interest rate, stock market rally. If they were to admit inflation is rising, the Fed would be forced to raise rates. That is unacceptable in our rigged .01% economy. There are banker bonuses, CEO stock options, corporate stock buyback earnings per share goals and captured politician elections at stake.
Friday, June 12, 2015
The Fallacies of GDP Economic Statistics / Economics / Economic Statistics
By: Alasdair_Macleod
The common error of confusing growth with progress goes largely unnoticed, though it permeates all macroeconomic analysis. There is no better example of this mistake than the fallacies behind the interpretation of Gross Domestic Product. GDP is the market value of all final goods and services in a given year. As such, it is only an accounting identity reflecting the quantity of money in the economy.