From first-time unemployment claims to jobs created, and from consumer sentiment to the unemployment rate, everything is coming up roses. In addition, I recently awoke to the news that orders for durable goods soared in the month of September.
Therefore, I’m wondering if we can postpone the presidential election for a few more weeks so that these extraordinary government proclamations can just keep on coming, it will make me feel so good!
Adolph Hitler’s Minister of Propaganda, Joseph Goebbels, once said that if you tell the lie long enough, people will believe it.
Obviously, all the recent announcements over the past few weeks have been directed at us, the voters. The government’s deceptive strategy is to make everyone believe that the economy has turned around, so therefore, why change, disrupt, or vote out of office the obvious architect of this professed renaissance.
The Commerce Department, the Bureau of Labor Statistics, and the Census Bureau have all been very busy spinning a wonderful tale of economic growth and recovery.
The unfortunate reality, however, is that in order to achieve a so-called lower unemployment rate, we must disregard millions of people who are either not working, or who are underemployed.
Furthermore, we need to eliminate a state’s (California) data in an attempt to decrease the number of people who are filing for first-time unemployment insurance.
And, of course, my favorite is to revise and magnify the ever popular seasonal adjustment. Imagine that in the entire United States, only 11,000 new homes were completed and sold in September of this year.
And I’m referring to homes not just started, not just under construction, but actually finished with the key in the door, a paltry figure for such a large country.
However, consider the surprise when we are told from that small number, 11,000, the Census Bureau has deduced that seasonally adjusted and annualized, the number is actually 389,000 new homes sold.
Based on that rationale, the person who takes a job and receives a wage of $1,100 per month should be delighted because after twelve months, their revised annual income will total $38,900.
It is the undeniable magic of Obamanomics, which definitely puts David Copperfield to shame. On second thought, maybe we shouldn’t extend the election; just on the chance that the government’s reporting will revert back to truth and accuracy.
Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has recently authored a highly successful book entitled 44th: A Presidential Conspiracy, publishes his dynamic monthly financial newsletter MacroProfit, and faithfully continues his third decade on the radio with It’s All About Money, which can be heard weekdays on Money Radio in Phoenix and in podcast form on his website (and on smartphone apps) published at billtatro.com weekdays at 5pm Eastern. Bill can be reached via email at firstname.lastname@example.org and on Twitter @tatroshow.