Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.
In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (www.ShadowStats.com) wrote that the 288,000 June jobs and 6.1% unemployment rate are “far removed from common experience and underlying reality.” Payrolls were overstated by “massive, hidden shifts in seasonal adjustments,” and the Birth-Death model added the usual phantom jobs. Continue reading “Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud”

Paul Craig Roberts
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Yesterday my daughter e-mailed me again, asking why I didn’t do something useful with my time.
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Brownsville Herald, July 5, 2014