7.8% MY A- –
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In the past two months, I told you specifically that the fake unemployment number would go below 8% before the election. How did I know? Simple…the BLS now known as the BS is run by David Axelrod and family. It is the 8% number that has been a headline number for the past two years…so it was imperative that this administration get it under that number before the election. How have they done it? Just take millions out of the workforce and in the last week, have the BLS announce a mystery missing 400,000 jobs added that they did not count. Who are they trying to kid? So…it would not have mattered if this country was nuked…it would not have mattered if we were in a depression…it would not have mattered one bit. Leave no doubt…THESE UNEMPLOYMENT FIGURES ARE RIGGED. Nothing more…nothing less…and in plain site. Expect the national con-artist mainstream media to jump all over this number in unison even though job creation was a measly 114,000 gain. There is no way the unemployment number can go down so much off this number unless the fix was in….and yes…the fix was in…and even little ole me knew it.
Ladies and gentlemen, you see a lot of sarcasm in my writing but this is very serious. We are becoming a banana republic as the fed prints money to fund ridiculous, over-the-top, out-of-control deficits and now we can’t get a real number on employment. There is no independence any more with supposed independent departments like the Fed or the BS. If little ole me knew what was coming with these numbers, you had better worry.
Watch the con-artist, national mainstream media in orgasmic bliss over this fake number while tens of millions are still out of work. Every unemployed person should be on the grounds of the BLS today protesting this obvious crap sandwich of a number. This is very scary.
Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.
You called it sorry Gary. I truly fear for this country.
I would describe it as a combination of a Kleptocracy and a Banana Republic.
As Lenin once said “the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”
In Weimar Germany, the greatest gainer in the inflationary spiral was the government, who essentiallly transferred the wealth of the middle class to itself in order to wipe out its tremendous debt.
Gary,
You’re very good with investments and listen to your advice. But you don’t what you’re talking about with the employment data. Do you even know how the Current Population Survey, which is what the unemployment rate is determined from, works?
I worked at the State of Arizona BLS Dept. where we’re collected the non-farm payroll data and also calculated the labor force data. It’s a very involved and complicated process. First, you never take one month’s number and look at that in a vacuum. The media is too fixated on one month’s number. That’s a preliminary number that is subject to revision. Also, you should look at the CPS data over a 6-month period to get a trend. It isn’t expected to be a perfect calculation of the U.S. jobless rate. It’s an estimate based on a sample of 60,000 households. It’s the media that makes too much of the monthly unemployment numbers. The non-farm payroll number is a much better estimate of the how the economy is doing.
But for you to come on and say these are “fake” numbers is a slap in the face at hard-working Labor Dept. workers who believe in doing their job correctly without any influence from David Axelrod or the President. They would be appalled if someone came in and said manipulate the data. And you can verify whether the data are accurate by looking at the state data and matching it up. President Nixon thought there was a “Jewish cabal” in the Labor Dept. to make him look bad. And you’re now in Nixon’s conspiracy corner. You throw stuff like you know how the numbers are calculated. Prove what you’re saving. Don’t just come on the air and say the numbers are fake.
The participation rate is down in our country because people have stopped looking for work, went back to school or retired. I’m one of those who lost a job and have only found part-time work since I was laid off. I’m now 60 and have saved my money the past 25 years and invested well and can live decently without another job, so I’ve stopped looking. I’m running for office as an Independent who refuses to accept any special interest money because the political system has been taken over by special interests. At least I”m doing something productive with my life, but when I send in hundreds of resumes and have a master’s degrees and can’t find work, I go in a different direction. That’s how the CPS survey works and I expect the unemployment rate will tick back up again over the next 6 months. But I also expect the housing market will get better and that will turn around the economy, Maybe Romney will get elected and he’ll credit his great personality for turning the economy around. It won’t have anything to do with him.
I have never written you before and I have listened to you on and off over the last number of years, mostly off because I just tired of the slanted political rants. I just listened today after a new months, in a weak moment, and unfortunately it is just the same old thing. Now you are calling the latest employment numbers fraudulent (because they were better after a long period of bad numbers). Does this mean all of the bad employment numbers are now fraudulent also? I would say just lay out the proof of your claims for the world to hear (all 8 of your listeners) and not just conjecture on your part. Otherwise, you are not better than Romney with his flip flopping and Lyin Ryan. Please! You are becoming more irrelevant everyday and I am surprised that anyone still listens to your obnoxious rants (there are SOME slivers of good market related information in there somewhere if someone is patient enough to listen that long; I rarely do).
The numbers aren’t fixed. Gary, please stop saying this stuff. The payroll numbers have been revised upward the last several months. ADP is showing employment growth in private sector for October of 160,000 The market believes that data, otherwise it wouldn’t rally on a better economy. Now that housing is starting to come back and price are going up, that will be the impetus for employment growth, whoever wins the presidency will be rewarded with better data.
Gallup releases survey showing unemployment rate dropped to 7.4% seasonally adjusted in October, 7% unadjusted. The rate released by the Bureau of Labor Statistics is also seasonally adjusted and Gallup’s seasonally adjusted rate in Sept. was 7.9%, nearly identical to BLS. So for those who think the BLS data was rigged, here’s another piece of data backing up that the UE rate dropped. And ADP just reported that 160,000 private sector jobs were created in October.
http://www.gallup.com/poll/158483/unadjusted-unemployment-down-october.aspx?utm_source=alert&utm_medium=email&utm_campaign=syndication&utm_content=morelink&utm_term=All%20Gallup%20Headlines%20-%20Economy