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Showing posts with the label lie

(F)Rebasing

Obviously there is a pretty bad discrepancy between those numbers in this morning's edition of blowing sunshine up your skirt from the Ministry of Truth. current employment report Given the size of the country, it SHOULD take 600k jobs to move the rate that much so obviously there's a problem here. How did this happen? Dig a bit deeper and you'll see that they simply defined 504k out of the labor force from December to January and rounding did the rest. Wave a wand and define those people out of existence. If they don't exist, they can't be unemployed now can they? If you look at the chart, you'll see that they did the same thing in December from November. In that case only 260k unemployed people disappeared from the statistics. There is a clear and systemic effort to deceive the public about the state of the economy and it's getting worse. latest household data But there's is an even bigger deception in the numbers that helps to reveal the systemic frau...

A Child's Perspective

The UDB grew until it encompassed virtually all asset classes and nearly every nation around the world. Many markets and countries have now fallen off the former trend but the consequences are just starting. In covering something this large and complex, we tend to use a lot of statistical analysis here at Financial Jenga. But occasionally, a simpler perspective can be really helpful. I occasionally play babysitter for my young nieces on weekdays and they sometimes overhear my phone conversations with friends and colleagues. Yesterday, they were here and overheard me ranting about the bankers' attempt to get even looser accounting treatment . Right afterwards, the 5 year old said: "Those must be really bad people if they lie so much." She made me think a bit. We've always known that the only way to offset a bubble bursting is to inflate an even bigger bubble somewhere else. And most of us learned from our parents that if you lie, you'll just have to make up ...