Looks like the Wall Streeters even know that the government is a bunch of shit liars!
"Despite Gain in Jobs Data, Wall Street Is Skeptical" by MICHAEL M. GRYNBAUM
A robust employment report offered investors a pleasant surprise yesterday, but some thought it was too good to be true.
The economy added 166,000 jobs in October, the fastest pace in five months, the Labor Department said. But anxious investors cast doubt on the report and sent stock markets down much of the day as the outlook for fourth quarter remained cloudy.
Nigel Gault, chief United States economist at Global Insight:
“Sooner or later these big problems out there — credit, housing, and oil — are going to catch up with us. We can’t keep running forever on this two-track economy, where housing collapses and everything else just carries on like nothing else is happening.”
Sooner, I'll bet!
And WELCOME to BUSH WORLD, sir!!!!
Big banks and brokerage houses dragged most of the day, pulled down by Merrill Lynch, whose stock plunged nearly 8 percent after analysts questioned its relationship with several hedge funds.
Hedge funds make your cost of oil go up -- on purpose!!!!
Heating oil users face costly winter
Better-than-expected job growth would normally cheer the markets. But many analysts said they were skeptical of the gains, underscoring the uncertainty on Wall Street.
Some economists saw distortions in the data. With seasonal adjustment factors removed, nearly half of the gain in private jobs came from an estimate that the Labor Department makes each month about how many jobs were added by new businesses, known as the “birth and death” model. The Labor Department did not actually find evidence of these jobs; it assumed they were created based on historical patterns.
Translation: They MADE IT ALL UP!!!!!!!!
They FUCKING LIED!!!!!!!!!!!!!!
Well, I think I'm going to make $25k this year, even though unemployed!
Hey, it's been the historical pattern!
And these fuckers never learn from history, so WTF?
A separate survey of households, also conducted by the Labor Department, presented a very different picture of the job market. It showed that fewer Americans over all were employed in October. The labor force shrank by 211,000 jobs, and 465,000 Americans said they were no longer working or seeking work.
Those are considered highly volatile figures, and retirees, for example, are included among the group that is considered to have left the labor force. But some economists said they were concerned by the drops.
Ian C. Shepherdson, the chief United States economist for High Frequency Economics, a consulting firm in Valhalla, N.Y.:
“The slowdown in household may, on this occasion, be telling you the true story. [The 166,000 rise in payrolls] is incredibly narrow and sort of implausible.”
This occasion? How 'bout on all of 'em?
Implausible: "not seemingly worthy of belief."
In other words, a LIE!!!!!!
Some analysts said the expansion in October offered a signal that the economy was more resilient than previously thought.
Whatever you guys are smoking, share, will ya?
The estimate of overall job growth, which beat even the highest estimates, followed a 96,000 gain in September, which was revised down from the previous estimate of 110,000.
Wait for it.....
Manufacturers lost 21,000 jobs last month, their 16th consecutive decline. Retail businesses cut 21,500 employees from their payrolls. The declines underscored analysts’ expectations that consumer spending will slow, further hurting businesses.
The unemployment rate held steady at 4.7 percent in October, the highest rate since August 2006, but only because the survey found that more people stopped looking for work and were therefore not counted by the government as unemployed.
That will sure hold down the numbers and make them look BETTER than they are!
This LYING FUCKING GOVERNMENT!!!!!!!!!!!!
Wages ticked up 0.2 percent, to $17.58, slightly below expectations, and were up 3.8 percent compared with those a year earlier. The length of the average workweek stayed flat at 33.8 hours."
Yeah, wages ticked up, so richers got even phatter!!!!!
Love that average work week, too!
Just enough to NOT QUALIFY for FULL-TIME and BENES!!!!
Coincidence?
Hey, don't despair, Amurka!
Not everyone is hurting like you!
Profit Rises 64% at Berkshire Hathaway
Cable Networks Help Viacom’s Profit Surge 80%
Chevron Profit Plummets 26% as Gas Margins Decline
But they still cleared $3.72 billion, so don't be so concerned about them, readers.
They'll be fine!
Crude Oil Futures Trade Above $96 Again
Credit Ratings Cut to Junk for Top 3 Home Builders
Hey, how did that last one get in there?!
And it's not junk, it's SHIT!!!!!!!!!!
