NUMBERS add up to nothin
but when the first shot hit the dock, i saw it coming (N. Young)
much ado being made about Trump firing the Labor statistics Chief, and of course the MSM is deliberately getting it wrong....they are claiming he is firing the messenger because he didn't like the numbers......not accurate.........his anger and outrage stems from the fact the the stats included the largest "Revision' from the prior numbers in history.......last week they revised their own June numbers from 63,500 new jobs to a mere 7,500 ....thus painting a much grimmer picture of the economy and providing cover for Chairman Powell to hold steady on the rates....how can you trust either number ? how can there be such a significant revision ? ....these are the same people that released the final Jobs report prior to the November election and showed the Economy was Booming......only to be significantly revised after the election......Trump had enough and fired the head of the stats as being either incompetent or deliberately misleading for political reason...or both........that is his prerogative as the CIC.
This story is nothing new to those of us who read and followed NY Post contributor John Crudele. I had to search for him this morning and found his website.......he was born and raised in Sheepshead Bay, went to Syracuse and NYU and wrote financial columns for 40 years.. Crudelle would painstakingly demonstrate how the Govt had no Effin idea what the true numbers ever were....and that all of their stats were based off ADP payrolls and their past history....for example they added jobs every spring because they figured that businesses were hiring for the summer....i kid you not, their parameters were built around suspicion and expectation...NOT FACTS,,,,his columns are worth searching for if you are not familiar with him......he had a great way with words and was very funny...,,..he lived in Old Bridge and was a regular guy and a decent golfer for many years before relocating to Eden Praire Minnesota....i sent him the below letter on Sunday.
Hi John,
I loved your columns in the NY Post. I am from Bayridge Brooklyn, worked in Brokerage (Margin Back office) the last 35 years(Waterhouse, Instinet, Fidelity) and i lived in Little Silver (not far from Old Bridge) for 25 years until my recent move to South Carolina. I had to search for you this morning online after reading about POTUS firing the Labor Stats Chief......i remember the hundreds of times you dedicated columns or gave mention to the fact that Govt way of counting or guessing stats was archaic and inaccurate.....and i made sure to tell colleagues every time the stats were released to "take em with a grain of Salt" and to Read your column in that days Post.....thank you for shedding light on this for so many years, i never forgot the valuable lesson.......I Hope you are well.....I miss reading your educational and funny column in the post......I moved away from Monmouth County this spring and i am loving South Carolina, looks like you are in Minnesota these days....I hope you are doing well.
Thanks again,
Tom O'Dowd
2+3=BEEER
Raised my rifle to my eye,
never stopped to wonder why
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