AND THEY MAKE FUN OF ME FOR WATCHING PRO WRESTLING

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Every month, I tell you it is time for the fake job’s report. I use the word “fake” because it is. It is manipulated with the numbers being  made up. It is a small sampling with all kinds of weird things added like the birth/death thingy. And now, the easy game is to come out with horrid numbers but somehow lower the unemployment rate. How? Just take a ton of people out of the workforce.

This morning, the fake number has the unemployment rate down to 8.1% even though job growth was anemic. The BLS, which for now on, will be called the BS, wants you to believe that 368,000 more people came out of the workforce. I have news for you, I can make the unemployment rate 5% right now. Just take a few million more people out of the workforce. The number of people who have supposedly come out of the workforce has risen markedly in the past decade. 

So just take the participation rate down from 63.5% to hmmm…let’s just say 58%. Yeah…that’s the ticket. You see,…I just dropped the unemployment rate…vote for me. Of course, there really isn’t a list of people who left the workforce. It is made up. I have personally emailed the BLS to just give me a few names off that supposed list…no answer!

So don’t make fun of me for being a pro wrestling fan. At least they admit the storylines are fake. This report should come out every month on Comedy Central. And how much would you like to wager that somehow, we will see 7.9% before the election.

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.