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Data Fudging Continues: Initial Claims Tumble

zimmer

zimmer

Educating the Ignorant
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Data Massaging Continues: Initial Claims Tumble To 339K Lowest Since 2008, Far Below Lowest Expectation | ZeroHedge

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.
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This was done to get the number into the 7 category.
And Obama's conglomerate called PRAVDA USA spread the lies feverishly.
 
This cannot be. BLS figures are bulletproof. Impervious to error. Ironclad in trust.

That's what we were told last Friday, right?
 
Of course! If there's good news it MUST be a conspiracy!! :roll:
 
zimmer said:
This was done to get the number into the 7 category.
And Obama's conglomerate called PRAVDA USA spread the lies feverishly.
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Is zerohedge.com related to The Onion?
 
Some people never read past the headline.
 
AdamT said:
Of course! If there's good news it MUST be a conspiracy!! :roll:
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Nobody said conspiracy... what was said was fudging.

Libya... that looks like a coordinated effort at the highest levels of our government to deceive.
 
AdamT said:
Of course! If there's good news it MUST be a conspiracy!! :roll:
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It's good news that a "large state" failed to report complete numbers? I guess it would be awesome if no one reported unemployment claims by that reasoning.
 
AdamT said:
But bad news, from the very same sources, is clearly beyond repute....
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what sort of twisted. partisan mind takes a number that is incomplete due to a large state not reporting and decide it is good news. How do you know the news would be bad if included.

Must have failed kindergarden logic course.
 
There is going to be another unemployment figure released 2 days(?) before the election. If the number jumps back up to 8.1 or higher then we'll know if the current figure is an <ahem> anomaly.
 
Jack Fabulous said:
There is going to be another unemployment figure released 2 days(?) before the election. If the number jumps back up to 8.1 or higher then we'll know if the current figure is an <ahem> anomaly.
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Don't be ridiculous. If the number doesn't go up, or heaven forfend, if it should even fall, it will just be an indication that this was all a conspiracy. On the other hand, if the number goes up that will also be a clear sign that the most recent report was also the result of a conspiracy ... because for some reason SMIRSH-like Obama administration can change the unemployment numbers at will ... but only for one month.
 
People are fortunately becoming quite immune to the constant shell game of numbers.

We know the truth. We live it. We can feel it. The multiples of unemployed people know they're still unemployed and not getting offers, regardless of what number is pulled out of a hat.
 
AdamT said:
There's no such thing as fake bad news -- just fake good news. Pay attention.
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I pay very close attention, which is why neither side has won me over yet.
 
AdamT said:
Don't be ridiculous. If the number doesn't go up, or heaven forfend, if it should even fall, it will just be an indication that this was all a conspiracy. On the other hand, if the number goes up that will also be a clear sign that the most recent report was also the result of a conspiracy ... because for some reason SMIRSH-like Obama administration can change the unemployment numbers at will ... but only for one month.
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The number is artificially low right now. Call it whatever you want... anomaly, fudging, conspiracy, accounting error... who cares. If the Republicans make too big of a deal out of it they're going to look like they actually WANT high unemployment. If the Democrats try to spike the football and say... "See!!! Told ya so!!" ...they risk looking like idiots if the next number goes back above 8%. The way I see it, both parties better walk a pretty thin line.
 
Taylor said:
Impervious to error.
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Are you sure that the descriptor was impervious to error and not protected from political influence?

'Cuz, imho, the two are not equivalents of one another. So if it was one and not the other, it might make a difference.
But maybe I am just hearing the words that I really want to hear instead of what was actually said. idk.
 
According to the numbers, in 4 years Obama's policies reduced unemployment by 0.4%. At this rate, it will only take another four decade for half the unemployed to have jobs. But people can wait 4o more years to pay their mortgage and buy groceries so that works. People just have to be patient and wait a few decades - to eat.

If cutting unemployment in half in 40 years isn't the definition of success, I don't know what is.
 
AdamT said:
True, people are not fooled. Consumer Confidence in U.S. Rises to a Seven-Month High - Bloomberg
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Says the 100 people they polled in the Upper East Side. Just more blather. People are wising up to the up-one-day-down-the-next manipulation of economic numbers. It never lasts more than a day or two, and they're still unemployed and ravaged in mounting debt from a brain-dead approach to creating the necessary climate for recovery.

But march on with you're blinders on, by all means.
 
joko104 said:
According to the numbers, in 4 years Obama's policies reduced unemployment by 0.4%. At this rate, it will only take another four decade for half the unemployed to have jobs. But people can wait 4o more years to pay their mortgage and buy groceries so that works. People just have to be patient and wait a few decades - to eat.

If cutting unemployment in half in 40 years isn't the definition of success, I don't know what is.
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You aren't taking into account the fact that unemployment was on a huge downward path when Obama took office, and that negative momentum continued for a solid 10 months. But if you look at what's happened since October of 2009, unemployment has fallen 2.2%. In other words, you are looking at two trends -- one down and one up -- and counting it as a single trend. That is incorrect.
 
Erod said:
Says the 100 people they polled in the Upper East Side. Just more blather. People are wising up to the up-one-day-down-the-next manipulation of economic numbers. It never lasts more than a day or two, and they're still unemployed and ravaged in mounting debt from a brain-dead approach to creating the necessary climate for recovery.

But march on with you're blinders on, by all means.
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Of course, your 100% anecdotal experience is far more telling.
 
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