The huge "Jobs" growth has been nearly universally recognized as an exercise in cooking-the-books than actual, organic job growth.
The Fed frequently makes minor revisions to previously reported numbers. This huge "job print" was created out of thin air by skimming the frosting off the cake from May-through-October and smearing it on top of the cupcake January, 2022.
Why bother collecting numbers when you are going to massage them until they mean nothing? Fire the staff. Break the lease. Ouji boards are cheap.
Ottawa
Police are confiscating jugs of diesel fuel so truckers cannot run their engines and heat the cabs of their trucks. That is one of the ways the government is pressuring the truckers to stop protesting.
"We want you to move so we are going to put you into the position where you will use every milliliter of fuel in your tank." I guess that counts as Liberal logic.
CNN
CNN hemorhaged 90% of its viewers in 15 months. The CEO was just fired. What took them so long?
The over-paid (at 10% of peak audience) talking heads are crying a river of tears. The guy who was fired was the Capo who had been protecting them. They defend the fired CEO with "Sure, what he was doing was against the rules but everybody knew it. So why fire him now?"
They know that they will not be paid $4 million a year regardless of how much other staff is let go.
Economics is a bitch if you aren't paying attention. Economics can be a bitch even when you are paying attention.
Denninger
Denninger points out that the only numberically viable way for the US economy to flip right-side-up is to vaporize Medicaid and Medicare.
I have always been a fan of packing my own parachute. Eat well. Exercise. Practice all things in moderation. Get some sun. Get religion. Avoid toxic people. Avoid situations where you are likely to say "Here, hold my beer!"
Will
ReplyDeleteNever
Happen
Ever
I would say that the revisions to monthly job numbers are not minor; they can be over 30% different. They collect numbers and use a more or less set of manipulations to them so the bureaucrats can claim to be following procedure to justify the numbers.
ReplyDeleteUnfortunately, I don't think we'll see welfare end until the government does... It's a gravy train for too many people.
Re: CNN--
ReplyDeletehttps://www.dailymail.co.uk/news/article-10476079/Billionaire-John-Malone-known-corporate-policies-followed-Zuckers-romance.html
“ Denninger points out that the only numberically viable way for the US economy to flip right-side-up is to vaporize Medicaid and Medicare.”
ReplyDeleteYa, that’ll do it. Joe, just cause someone says something stupid doesn’t mean it bears repeating.
What Denninger misses is that keeping the economy "right side down" is the plan. People struggling to feed their families don't fight government - they beg for more.
ReplyDeleteStuart-agree. Cut off social security. Businesses no longer pay their side of it. Open our misery gate-southern border-people will work for any wage. Hire 75,0000 more irs auditors. Ebay reporting to irs sales totaling over $600 a year. Banks reporting to irs all transactions of $600. The mist is beginning to clear. It is a new dawn in America.
ReplyDeletePolice stealing legal products from citizens ... sounds like a good way for the whole thing to go kinetic. At least it would in this country. Maybe not Canada.
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