Speaking of which, can’t wait to see if the BLS revises it’s employment numbers for last month given how out of whack they were vs ADP.
These types of revisions are why I believe things like the CPI, Unemployment percentage, and GDP numbers, although correct then they are published are misleading and meant to make the public believe something that aren’t necessarily true.
When the public initially hears the numbers, they are led to believe, “oh that isn’t so bad, the economy is doing okay”, only later the revisions point to something completely different.
The obama affect.
Intentional
political mascara
adjusting for next months fawn news
As has been pointed out elsewhere, the price index does not move in lockstep unison between all items of consumption. Individual prices may actually fall LOWER than the index, while others have a much sharper rise. Depending on the mix of consumer items for each individual, the rise or fall may not be exactly reflected in the published rate. But the overall change has been inevitably higher on a month-to-month basis. And it works much like compound interest, in reverse.
The invisible tax of inflation is costing each and every one of us, and it is a means for the government bean counters to control so many aspects of our lives.
Especially originally reported leading up to the November elections.
Republicans will huff and puff about that, then do nothing.
Intentional obfuscation since nobody reports revisions.
With these CPI adjustments and a 3 million job ‘seasonal adjustment’ to the jobs numbers, it is like painting the Potemkin village.
Correction=Admission of a lie.
If my math is correct, for the 5 months annualized, initially CPI was reported as an increase of 9.6%, and the revised CPI is an increase of 14.7%.
Gee, ya don’t say? Anybody who was paying attention knows the real rate of inflation is about double what the government claims it is. They stripped out food, fuel and rent claiming they were “volatile”. Those just happen to be the things that had the highest inflation. If you put those back into the calculation and calculate inflation the way we used to back in the late 70s/early 80s, the real rate of inflation has been running at 16%-18%. That is actually a little worse than it was in the late 70s.
REVISED UP!
All those ‘good’ reports the last 2 quarters were just fun-with-numbers to make Biden look a bit better for the SOTU.
The hyped ‘down’ numbers didn’t fool anyone who does grocery shopping.
And the current quarter is starting off to be another disaster. January was UP 0.4% over December. That is HUGE, Hugh even, because it will likely be REVISED UP when the revised number is released.
Yellen is going to have a difficult time defending her boss after these revisions.
FED doesn’t meet until March 21-22, so they might be forced into a larger rate increase.
It seems that we need focus on a different set of economic indicators and have different set of people measuring. Specifically, people not in government. They are not trustworthy. As for focus, I mean people in the media and fiscal/monetary policy decision makers. There are plenty of economic indicators that already exist, people just do not know about them and they are not reported in the MSM.
“BLS” ist that an abbreviation for “bull shit”?
The headline is inaccurate. It is slightly faster, not “much faster”. More fake news to scare people.