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