El Gringo Viejo draws information directly from FWE, and includes the excellent analysis about the data falsification tactics being used by the regime in charge of the central government at this time. The question is, "Why are Obama donors at the BLS allowed to handle and interpret the data?"
We use FWE as a reliable information source and also as a wheretogo for explanations about phantasm facts published by the central government.
Data Massaging Continues: Initial Claims Tumble To 339K Lowest Since 2008, Far Below Lowest Expectation
Submitted by Tyler Durden on 10/11/2012 08:42 -0400
This is just getting stupid. After expectations of a rebound in initial claims from 367K last week (naturally revised higher to 369K), to 370K (with the lowest of all sellside expectations at 355K), the past week mysteriously, yet so very unsurprisingly in the aftermath of the fudged BLS unemployment number, saw claims tumble to a number that is so ridiculous not even CNBC's Steve Liesman bothered defending it, or 339K. Ironically, not even the Labor Department is defending it: it said that "one large state didn't report some quarterly figures." Great, but what was reported was a headline grabbing number that is just stunning for reelection purposes. This was the lowest number since 2008. The only point to have this print? For 2-3 bulletin talking points at the Vice Presidential debate tonight. Everything else is now noise. It is also sad that the US "economy" has devolved to such trivial data fudging on a week by week basis, which makes even the Chinese Department of Truth appear amateurish by comparison. Needless to say, Not Seasonally Adjusted initial claims jumped by 26K to 327K in the past week but who's counting. Finally, what is the reason for ongoing QEternity if the employment situation is now back to normal. Finally, in completely ignored news, because who needs global trade when you have toner cartridge, and generally ink, the US trade deficit in August rose by 4.1% to $44.2 billion, on expectations of a deterioration to $44.0 billion. Then again nobody talks about the US trade deficit during presidential debates so all good here.
Jobless Claims beat by the most since May 2009 and is the lowest since Jan 2008 - the new normal...
This is for OROGs who were scratching their collective heads. It helped me.
El Gringo Viejo