Originally published at: https://peakprosperity.com/with-a-government-lying-this-much-who-needs-enemies/
In a pretty stunning turn of events, the labor lies of the Biden administration finally became too much for Jerome Powell of the Federal Reserve to bear.
So he said this:
“There is an argument that payrolls may be a bit overstated” is a very carefully crafted bureaucratic sentence that translates to “Liar, liar pants on fire!”
We’ve been covering this parade of fibs for many months now by observing that each month is a fantastic beat to the upside for jobs that will be quietly revised downward in later months. How much? An average of 60,000 jobs per month over the past 12 months – a nearly flawless record of BLS failure.
And, the lies don’t begin or end with the McJobs report, but extend to all sorts of goobermint [sic] statistics, especially inflation.
And this week’s whopper of a lie fest was not a disappointment!
Here’s one small taste:
I could just about strangle a BLS statistician, but I think instead I’ll shove one of my health insurance premium bills into their mouth while telling them they are actually experiencing Hagen Daz vanilla bean ice cream.
A country that lies to itself this comprehensively is on the path to destruction, the same as any company that fudges its books.
Next, the loss of petrodollar status for Saudi Arabia is a H.U.G.E. deal if true. Really big. It seems to be true, but we’re out here in the cheap seats, so hard to know for sure what’s happening.
How does all this affect a portfolio and investment strategy? Tune in to find out…
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