Recession Confirmed: “Even The Bureau of Labor Statistics Has Run Out Of Bullsh*t”

The following analysis was originally published by James Quinn at The Burning Platform. As always, Jim gives us some key insights into what the government is saying is happening and what is actually happening. As you may have guessed, all of the “official” statistics and reports over the last several months and years are nothing more than conjecture. There is no recovery. In fact, as Quinn explains, a recession has now been confirmed.

Here’s the reality of the situation – from James Quinn:

It sure is lucky those Ivy League educated economists at those Wall Street criminal banks are paid millions per year. How else could we get such accurate forecasts about job growth in the U.S. These mental midgets predicted 245,000 new Obama jobs (bartenders, waitresses, house cleaners, clerks, fry cooks) in March. Even the BLS has run out of bullshit and lies. Those dramatic job increases in January and February were cut by 69,000 jobs. That is a 13% error. If I make a 13% error doing my job, I’d be fired. The BLS government drones have the power to move markets with their bullshit reports. It’s funny how the negative revision is put at the very end of their 2,000 word press release.

But getting back to the accuracy of Ivy League educated Wall Street economists – they missed by 50%. That entitles them to a $250,000 bonus. The Establishment Survey showed a pitiful 126,000 increase in low paying service jobs in March. Get prepared for the usual weather excuse. They’ve been using it for the last four months. How many companies make hiring decisions based on the weather outside? Really? Do these highly educated assholes actually expect us to believe the temperature outside stops companies from hiring? Hysterically, the BLS says that 72,000 phantom jobs were created by new companies, even though we know for a fact that more companies are closing than opening. This 126,000 number will be revised to a negative number two years from now in a press release on a Friday afternoon.

And it gets better. The Establishment Survey is the good news. The Household Survey, that calculates the fake unemployment rate, had even more dreadful results. It showed only 34,000 more people employed than last month. It shows only 130,000 more people employed YTD versus the 390,000 in the other survey. Which number do you not believe the most? Read More