Yeah, I am not sure when the alarm is going to sound here. You barely ever hear this mentioned, but the implications are pretty dire. I heard a podcast the other day that made the point that America's most successful export is the dollar. We take for granted that our dollar is the universally recognized standard currency, that our financial system and practices are the international gold standard. When that goes away, so does our prosperity. And the reason it's going to falter is not an unforeseen catastrophe - it's one dude acting like a jacka$$. |
Yes, but that one person can control the release of the data, and if they so choose, control the content of the analysis. That wasn't concern before, but it's about to become standard practice now. |
No, the release of the data is mandated by rule and is expected by the markets at exactly the time released on the day of the month. The data is presented in tables and charts. Reporters interpret the top and bottom line numbers but the supporting data is all contained in each release. Clearly you have never read it. |
BLS calculates the CPI used for Social Security COLAs, as well as the headline CPI used to calculate TIPS yields as well as the inflation adjustments to the marginal tax rate thresholds |
They’re seriously using shadowstats to support their ridiculous 25% unemployment rate claim? ![]() That’s 1 in 4 jobless. That’s the same rate as the peak of the Great Depression, in 1933. A sustained rate like that lasting 17 years would have caused widespread starvation and civil unrest. I don’t think there’s any hope of deprogramming this level of delusion. |
Sadly, probably not. |
It is not that it is expected by the markets. They release at that time, to minimize the effect on the markets. |
There are different measures of unemployment. I think it is U-6 that shows a higher number. |
There are teams of people who work on the numbers and releases. You would have heard from a whistleblower if the numbers were fake. BLS isn’t political at all; they’re all data nerds! |
Bad look for Trump to do this, but he wants to be sure everyone is loyal after his first term. They ran articles after he left office how DoD was lying to him about troop levels in Iraq to keep him from withdrawing. Better play would have been to tout the native born job numbers from the same BLS. |
PP here - my point is that in Trump's view the Director absolutely has this power. And he is going to install a person who will control the release and content of the data. |
Trump could claim his crap tastes like chocolate and the PP would rush out to eat it up. It’s sad the amount of kool aid some people have drunk. |
What other accurate measure of unemployment would you suggest that accurately measures the long-term disassociated unemployed then? And have you not been watching the last 17 years, are you so stuck in your upper class, liberal bubble you are unable to comprehend what is going on around. Have you just ignored the fentanyl crisis? The millions of proud, working class Americans dying deaths of despair off of a monstrous drug forced into the country by the same monsters stealing their jobs, and supported by liberals decriminalization and defund the police. Are you ignoring the widespread civil uprests 2020? The mass starvation and civil unrest you claim doesn’t exist describes the daily life of most working class Americans. |
They don't sound insane. They are insane. |
What is going on is the GOP has been gaslighting and lying to the country for decades and because of cultural wedge issues they manufacatured, the racists in the middle and south of the country believe them. |