JS Kim: All “Official” Economic Statistics Today Are Propaganda

WyckoffJS Kim of SmartKnowledgeU discusses how the latest US job reports ridiculously presents the job market is improving whereby a deconstruction of the derivation of the job report clearly illustrates a deteriorating job market and a citizenry that is becoming markedly poorer.
All US “official” economic statistics are just flat out propaganda produced by the Ministry of Propaganda today.

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War Bird

Comments

  1. “ALL “OFFICIAL” ECONOMIC STATISTICS TODAY ARE PROPAGANDA”
     
    Of course they are and this is just another sign of the slow motion train wreck / economic collapse that is happening now.  This is not coming, it is HERE.  It’s just that everything that is bad about it does not happen all at once, so many people are lulled into a feeling of false confidence that things really aren’t all that bad.  
     
    We are told that inflation is around 1% these days but anyone who shops for groceries is well aware that virtually all food costs have gone up substantially in the past few years as package sizes and weights have declined.  We are getting the double-whammy effect of higher prices for fewer goods.  We find the same thing when we purchase fuel for our homes and cars.  Gasoline, diesel fuel, heating oil, nat gas, and electricity are all up, some by double digits.  Taxes are up as well, in some cases substantially.   Clearly, inflation is not only higher than we are being told but it is MUCH higher.

     
    Next, we have the US employment picture, which is dismal at best.  Americans knew in the 1940s that WW II was a HUGE problem because virtually every American had a family member or a friend who had been hurt or killed in that conflict.  So too today do we know that unemployment is a huge problem and in the same way:  virtually everyone has either lost a job or knows someone who has and knows someone who has been unemployed for an extended period of time.  The BLS has to jump through multiple hoops to find a way that shows unemployment to be around 7.5%.  But we know that this is not the case because the numbers simply do not add up.  Yes, we really can do arithmetic so can check these figures.  When the economists tell us that the US needs a minimum of about 240,000 jobs per month just to keep up with our population growth and we are steadily averaging around 175,000 new jobs per month, it is CLEAR that the rate of unemployment CANNOT be falling.  Yet, the BLS continues to tell us that it is.  With personal income falling, hours worked falling, and numbers of people employed falling, how the hell can the rate of unemployment be falling too?  Answer: BOGUS NUMBERS
     
    Many of us know that things are more than bad enough now and are more likely to get worse than better.  Things will only get better when our leaders address the root causes of our problems and they are doing nothing of the kind.  Instead, they prefer to deal with the symptoms rather than the causes.  The most basic of these causes is the fact that the US Gov is MUCH larger than it needs to be to provide the most needed basic services.  Because the US Gov is so large, it is consuming the wealth that business and industry need to thrive and grow.  Because business and industry are neither thriving nor growing, they are not hiring.  In fact, virtually every business person out there today is working night and day to figure out ways NOT to hire anyone, lay people off, or reduce their hours while still getting the essential work of their company done.  
     
    On top of this, there is much greater than normal uncertainty about the future in general and specifically about health care reform, taxation, and regulation that is preventing business people from doing any long-term business planning.  Because of this, they are all either hunkered down to preserve what they now have rather than worrying about creating more or they have given up on doing business in the current US business-unfriendly environment and have moved to a much more business-friendly country.  This is neither helping the US economy grow nor improving the incomes of US workers and this at a time when both are desperately needed.

  2. @undeRGRound, What to do?
    - Spend less than you earn
    - Pay off your debts
    - Learn to make it yourself, or purchase used, rather than buy at retail prices
    - Grow a garden
    - Become more self-sufficient
    - Spread the word so others can understand what is really goin on
    - Continue to educate yourself
    - Stack!

    • I’m Becoming A Mammoth Ditto Head! 

    • Great common sense reply, Woolly.  In fact, this is SO good, it is likely to be the VERY last thing that the knuckleheads in DC think of let alone actually try.  :-/
       

    • CHECK- Spend less than you earn
      (working on it)- Pay off your debts
      CHECK- Learn to make it yourself, or purchase used, rather than buy at retail prices
      CHECK- Grow a garden
      CHECK- Become more self-sufficient
      double CHECK- Spread the word so others can understand what is really goin on
      CHECK- Continue to educate yourself
      Triple CHECK- Stack!
       
      Doing pretty well on all of these, getting out of debt is the one needing the most work. 
      Next month will be a great one for cutting spending, getting rid of a phone contract and 
      deleting a car from insurance! (or 2 cars) About 1 year on a barn payment (yay!) and 
      3 years on a good low-mileage car. Will be able to transfer paid up loan payments to
      the remaining ones, and as long as work holds out… Lord Willing… could be outta debt
      by the time the crash is hitting mid-stride I guess! KEEP STACKING!!! I AM!
      1. Silver
      2. Lead & Brass, Brass & Lead…
      3. Small amounts of Gold  ;) 
       
       
       

  3. Roger that RGR.  Get rid of debt, try to get yourself into a life that has the least amount of counterparty risk. 
    A low profile is a reasonable goal.
    Considering the face that  I met my wife through the Osar Mayer Weinermobile 21 years ago, RGR makes a good point. 
    Whatever that point is. 
    oh yeah. 
    Stack 
      That was Charlie 
    But it makes sense regardless.
      I guess 4 doubles of Jameson does not help one’s compis mentis, or typing skills  
    Over and out.
       PS   I just watched Robocop. 
      Goofy movie but it does tell a bit about the fate of Detroit  Only the actors will be Chinese in the sequel.

  4. Now that is one nice looking hot dog, look how it protrudes from the bun in all it’s glory and Mustard in the background. Amazing, Now I have to go and buy some Silver and Keep Stacking.

  5. Speaking of getting out of debt… I wish to pose a question to the SD Brain Trust.  Which is… say that you have $40k remaining on your home mortgage AND you have $85k remaining in a brokerage account that has done well, the earnings of which have been paying our health insurance costs.  Would it be better to pay off the house, cut the $1100/month house payment to around $600/month for taxes, upkeep, & insurance and be 100% debt-free or would it be better to keep making the payments, which we can afford, and buy some gold and silver with the $40k? Combo play? :-)
     

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