Evan Esar, a mid 20th century humorist, defined statistics as being “The science of producing unreliable facts from reliable figures“. He'd have to change that quote if he were still alive today when it comes to government statistics. Government statistics are the science of producing unreliable facts from unreliable figures.
Not only are the conclusions they reach from the data completely at odds from reality but the data itself is so contorted that Cirque de Soleil should be jealous.
In the Disgraceful State of the Union address, Barack O'Bomber stated, “In the last 22 months, businesses have created more than three million jobs. Last year, they created the most jobs since 2005.”
And the US Government's unemployment statistic looks to have backed off from near 10% to what is now proclaimed to be 8.3%.
This photo included in the propaganda piece, “Job Gains Reflect Hope a Recovery Is Blooming” from the New York Times at a California job fair is almost scientifically put together to convey feelings of happiness and hope at all the new jobs that have suddenly became available!
The woman in back is smiling and the nice lady in the red dress is going through what appears to be pages and pages of job options for the woman in front who looks on with a pen and paper surveying all her countless options.
There's just one problem. There has been no change in the jobs outlook in the US. O'Bomber, should it come as a surprise, lied? And there was no big increase in jobs in January. All that happened was, inexplicably, 1.2 million people just dropped out of the labor force between December and January. 1.2 million people who wanted to work in December all of a sudden aren't interested in working anymore a month later.
While you certainly couldn't blame anyone for not wanting to work given the fact that the US Government offers free food, spending cash and even helps you pay your mortgage. But, even that is not likely what really happened. What happened was “government accounting”.
The Labor Force Participation Rate which plainly shows the amount of people who have a job as a percent of the population has, thanks mostly to massive unemployment, but also helped along by government accounting tricks has now hit a 30 year low of 63.7%.
There really is only two reasons to look at almost any government economic statistic or it's parroting in the mainstream media. One, is for entertainment purposes. And the second is to be aware of what the masses are being told so you can best see how you can take advantage of their misguided belief in the government statistics to profit from their ignorance.
At The Dollar Vigilante we are always trying to find the truth through the thicket of government lies and propaganda to make better investing and life decisions. Subscribe today to be a part of our community of dollar crash survivors.
