Don't Drink the 'Fantasy Jobs' Punch
Strip away "inflation" (real inflation, as calculated by John Williams at Shadowstats.com) from the unadjusted "retail sales" numbers each month and we are left with negative numbers -- less and less goods being sold from less and less stores. Yet, supposedly, there is "jobs growth" here.
It's not simply a matter of the BLS engaging in "dubious" adjustments in order to produce "implausible" monthly jobs reports -- month after month after month. What we have seen consistently, over a period of many years, is the BLS engaging in blatantly fraudulent falsifications as it produces utterly absurd monthly numbers, with not the slightest connection to the real world.
The only thing more perverse than the actual numbers of the BLS is the reaction to those numbers. The U.S. monthly non-farm payrolls report is the most grossly fabricated number in the entire world of statistics. At the same time, the equally fraudulent (corporate) media tells the sheep it is the "most important" number on which they should fixate, and it influences not only U.S. markets but global markets more than any other single economic report.
That's the way a propaganda machine operates.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.