For all those who continue to doubt the statistically questionable methods of our Labor Department, as well as for all others who mock those who doubt the veracity out of anything coming out of the BLS, the following chart should provide much needed closure. The top section of the chart below demonstrates weekly prior revisions in initial claims for all of 2010. Readers may be surprised to discover that beginning in April, of 2010, continuing through today, there have been 22 out of 23 consecutive upward prior weekly revisions! In other words, the BLS has a definitive mandate to underrepresent the "current" weekly data and to allow it to catch up with reality once it has become "prior", and thus no longer market moving, when in reality should the BLS present true data it would have likely missed estimates on more than half the occasions it has "beaten" and caused ridiculous market spikes like the one experienced earlier. Furthermore, combining all individual weekly data, demonstrates that the BLS has underrepresented initial claims by roughly 80,000 year to date. The chart pretty much leaves no room for doubt as to the BLS "trans-statistical" approach to quantifying data. As for the lower chart, it shows the same thing but with continuing claims, which have been revised upward pretty much consecutively for the entire year.
“A liberal paradise would be a place where everyone has a job, everyone is fed for free, everyone has a home for free, and only the police have guns. A place like this actually exists. It’s called prison.” -- Sheriff Joe Arpaio “Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” – Norm Franz, author of Money & Wealth in the New Millennium
Friday, October 1, 2010
1984
And if all others accepted the lie which the Party imposed—if all records told the same tale—then the lie passed into history and became truth. 'Who controls the past' ran the Party slogan, 'controls the future: who controls the present controls the past.'" - George Orwell, 1984, Book 1, Chapter 3 (And the Regime 2009-????)
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