BLS OR JUST BS The Bureau of Labor Statistics or BLS, as a result of the criticism for faulty labor reports for April and May, of up to 5% error, has now said they will attempt to have more accurate data for the June report, on July 3rd. The May official unemployment rates for all demographic groups were underestimated. The BLS Associate Commissioner for employment and unemployment statistics, Julie Maxfield stated on 12 June, 2020: “report what the official unemployment…
EXAGGERATIONS OR LIES YOU DECIDE I sounded off on the administration using unemployment, coronavirus, stock market, and Fed manipulations of data for the optical illusion of having a sound economy and having the virus under control. He continues to tout his economy as the best ever, while 5 former presidents had presided over better economic times prior to February 2020. Today the economy is currently hovering around the Herbert Hoover levels of the great depression. I also showed that Obama…
TRUMP VS REALITY The impeached president Donald Trump is doing everything he can to give the illusion of being in good times. He touts the propped up stock market, he praises the phony Trumped up jobs numbers, and avoids the elephant in the room. He uses racial animus to rile up his base. Let’s examine each of these accusations. First, the illusion of a sound economy. Trump has long equated the stock market performance with the economy. Market is up,…
FINDING WAYS TO PROFIT ON THE VIRUS What do you do to insure maximum profits for 6 large companies? Project Airbridge is one way Jerrod Kushner’s shadow procurement organizational beauties. The Federal Emergency Management Agency (FEMA) contracted with 6 companies to rapidly deliver via air cargo flights Personal Protective Equipment purchased overseas, primarily China. The arrangement allowed the companies to split the load 50/50, half going to hot spots around the country and the other half could be sold at…
THE FED AND YOU I, like some of the fortunate retirees, am on a fixed retirement dollar amount, am drawing Social Security and have a 401K for a savings and any emergencies, that I have thankfully not suffered, as a result of the pandemic. Black Americans are now at a 50% unemployment level and are taking a disproportionate share of the virus deaths. The death rate highlights the inequality of health care in this country. The wealthy are the least…
DRY RUN General Milley Chairman, Joint Chiefs and Mark Esper, Secretary of Defense have both committed the most egregious and potentially mortal sins of not only disagreeing with the impeached president, but having their tiffs being made public. The day after the display of force in Lafayette Park, the impeached want-a-be law and order president had a plan, sans Richard Nixon’s initial presidential campaign. Remember he won. In a meeting in the Oval office, petulant dotard impeached Trump was adamant…
TRUMP AND THE CONSTITUTION This country was established, based on the rule of law, written by brilliant men and represents the composition of the best of thinkers at that time and based on previous experience with tyrants. Colin Powell, former General and Secretary of State recently said that Impeached president Trump had “drifted” from the Constitution. In an editorial in the L.A. Times June 9, 2020 Irving Weinestein of Ventura Cal. wrote about the way Trump has re-written or “drifted”…
DEFYING GRAVITY I had recently discussed the stock market and the rise of the indices. My admonition that the market is not a reflection of economic health but the economic health of the wealthy is borne out by the facts. The stock market has been artificially buoyed by the Fed and this can be demonstrated. The 50 days since the 23, March 2020 to June 3rd the S & P 500 has performed better than it has since they kept…
WHAT COULD GO WRONG? OR WHERE YOUR MONEY IS GOING? Mother Jones reported that Justin Muzinich, a 42 year old deputy secretary of the Federal Reserve, had the responsibility for the majority of the 3 trillion dollar bailout monies. A major beneficiary of the bailout so far has been Muzinich & Co., a company that was founded by his father. Justin was a prior president of his father’s firm. His stake was reported to be $60 million when he joined…
SMOKE AND MIRRORS OR JUST SMOKE? Unemployment numbers sent the Dow up 800 points with the fantastic numbers issued today (6 June), by the Trump administrations Bureau of Labor Statistics or (BLS). The 13.3% unemployment number was far less than anyone that follows economic statistics would find believable. Not thinking that someone would actually manipulate the numbers? This harkens me back to 2012 when then citizen Trump decried that Obama was cooking the books and not reporting accurate unemployment numbers….