from The Daily Coin:
Although heralded in the popular media as indicating reinvigorated employment growth and declining headline unemployment, April’s headline reporting of labor conditions and the accompanying revisions was not a happy circumstance. Underlying economic reality remains deteriorating broad activity. Below the surface, the April labor detail did not tell a happy story… John Williams, Shadowstats.com
The U.S. financial markets – and the media’s reporting of all news connected to the markets – have become the biggest farce known to humanity. The wildly inaccurate methodology used to produce the Government’s non-farm payroll report has become legendary. So-called financial experts climb on CNBC and Bloomberg and conduct a public display of dissecting and analyzing the numbers as if they are credible. In my opinion they are doing nothing more than making absolute asses of themselves. The entire spectacle exceeds the mundane bounds of absurdity by several standard deviations.
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