David Stockman discusses the December "job" report, stating that it is the last positive delta standing. However, it is only positive because of fake numbers; basically, it's BS from the BLS. Numbers are over inflated using "seasonal adjustment". Therefore, the job report does not reflect the actual state of the economy, which is "knocking at the door of a recession." The number is used by pretentious wall streeters wearing fake smiles, who want buyers to keep on buying (where stock market prices are also probably a lie too).
The job report does not take into consideration different types of jobs or salary distribution. It counts jobs that are "born again", after being lost from-you guessed it-the crashes/collateral damage of the financial bubble crash. The report is rubbish.
Though a little hard to understand, it is evident that no matter what pointless "facts" are thrown in our face, we need to fear and expect a recession; a recession that has been prolonged and denied for as long as possible by people like Ben Bernanke (who, before a crash, called the economy "the great moderation". Ha.)
I appreciate Stockman's passionately honest tone, as he is someone that will not put up with lies/deceit. The article, though not containing pleasant information, was a good read.
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