by Turd Ferguson, TF Metals Report:
Since the inception of this site back in 2010, we’ve referred to the monthly jobs report as the “BLSBS”. Why? It’s generated by the Bureau of Labor Statistics (BLS) and its nothing but statistical guesswork, which generally makes it bullshit (BS). In the fully-politicized election cycle of 2024, the term BLSBS has become more appropriate than ever.
Again, no need to just take my word for it. See for yourself below. The “facts” of today’s report is that the US economy supposedly added 206,000 new “jobs” in June as the unemployment rate rose to a three-year high of 4.1%.
TRUTH LIVES on at https://sgtreport.tv/
But how much of that is actual factual and how much is just statistical modeling designed to generate an outcome that gooses the stock market and allows The Blue Team, led by PETUS, to go out and publicly proclaim the robust success of their economic policies?
To that end, consider the items below:
Oh, and in case you need a reminder, that May BLSBS…the one that was just revised lower by 20% from +272,000 to +218,000…was released on Friday, June 7. That “huge beat” was used as rationale to smash CDG for $66 that day while CDS was crashed for $1.93. Do we now get to “revise higher” those losses and make price $2430 and $33? Nope.
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