This administration doesn't even try to pretend they are honest anymore.
Posted on 09/19/2013 5:47:28 AM PDT by Perdogg
Economic data may be completely meaningless now that the Fed is openly blowing a bubble without any qualms, but even the Fed at least pretends its policy is guided by said economic data. Which is a problem because for the second week in a row, Initial Claims data is absolute garbage, following an admission by the BLS that "two states" are still working through the claims backlog caused by the "computer-system changeover." Recall that last week's "computer upgrade" was the reason why claims plunged from 323K to 292K (on expectations of 330K). Today, the number was 309K, but instead of indicating any improvement in the economy, and hence a potential Taper catalyst (yes, we laughed too), it merely shows that at least two states have been slow to complete their computer upgrades. According to Bloomberg strategist the computer "issue" may be resolved in the next 2 weeks. Or it may not. If it wasn't such a farce, it would be funny.
The absolutely meaningless chart:
(Excerpt) Read more at zerohedge.com ...
ping
This administration doesn't even try to pretend they are honest anymore.
Has any one of our leaders—or our Great Leader—pointed to the artificially low numbers yet as proof of our economic recovery?
Anyone else find it interesting that they can apply highly sophisticated ‘seasonal adjustments’ to just about every facet of employment data, yet no one can figure out a way to present these results with an asterisk indicating an extrapolation from incomplete state data? Give me the state-by-state raw numbers and fifteen minutes with Excel and I’ll give you a comparison to previous results.
I suppose if 40 states failed to report, the media would dutifully report that Obomber had cured the economy.
I live in N Nevada.
Nevada has been having problems for over 3 weeks with a ‘NEW” computer system which isn’t allowing claimants access to the system.
Many are still waiting for their unemployment checks from 3 weeks ago.
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