|Q. How can you tell when a politician is lying? A. Their lips are moving.
||[Oct. 3rd, 2008|02:44 pm]
The Future Holds Nothing Else But Confrontation
The Bureau of Labor Statistics releases monthly reports on the unemployment rate, initial unemployment claims, total workforce numbers, etc. Now the thing is, they have no way of actually know how many jobs were created/lost by small businesses in the past month, so they use something called the "Birth/Death model". These monthly jobs adjustments are made by the BLS based on economic assumptions about the birth or death of businesses, according to estimates of where the BLS thinks we are in the economic cycle. So lets take a look at the birth/death chart for this month, and try to restrain our laughter :|
Sharp eyed readers will note that I uploaded this image into my "lulz" gallery, where it most certainly belongs.
Yes ladies and gentlemen, according to government statistics, the economy added 12,000 construction jobs this month, on top of 16,000 last month. This is a lie, pure and simple. I realize that this is just the results of whatever incorrect mathematical model BLS is using, but by not scrapping that model and trying to come up with something that bears even the slightest resemblance to reality they are foisting untruths upon us. The lesson here: don't believe a goddamn thing the government says. Ever.