It is no secret to anyone watching beyond CNBC headlines that the US Bureau of Labor Statistics (BLS) has been reporting lower jobless claims to placate markets on a reporting day – only to “revise” the figures upwards when nobody is looking a few days later. Â In layman’s terms – they lie about the actual numbers.
Now, the problem is getting worse. Â They are using “revised data” lies to support “improvement” lies. Â Sounds complicated but it is quite simple and it goes something like this:
- BLS reports jobless statistics (“A”) and sounds victory bells
- BLS revises jobless figures higher when everybody has left the victory party and nobody is looking (“B”)
- BLS reports jobless figures next month (“C”) that are higher than “A” but lower than “B”
- BLS sounds victory bells because “C” came in lower than “B”, when they should have been comparing to “A”
For An Actual Example With Figures, See The Image Below That Apparently Made Rick Santelli Flip Out On CNBC Today.
In short, they always claim victory despite revisions and actual figures going higher. Â No defeats, just victories. Â Don’t complain. Â Just be smart enough to know the US government is playing games with all economic data (i.e. inflation) and play along with them. Â Just be prepared to bail if actual results don’t eventually catch up to the Fairy Tale Data.
Click on Image For Full Story At ZeroHedge