Cassie B.— Natural News Aug 23, 2024
The administration of President Joe Biden did its best to avoid admitting the truth, but it’s all out in the open now: They conveniently overestimated the number of new jobs in the United States during the past year by nearly a million.
Although many economists have long suspected that the Biden administration was inflating the numbers, the official confirmation came later than expected due to “glitches” on the Bureau of Labor Statistics (BLS) website.
The BLS had announced that they would be publishing their CES Preliminary Benchmark Announcement revision at 10 a.m. on Wednesday, but frustrated investors ended up having to refresh their browsers repeatedly as the government website, which presumably has some of the best IT minds in the country running it, repeatedly failed to update.
However, it turns out that a select few were able to get their hands on the data despite the technical problems. Complaints are rolling in about the fact that some Wall Street investment firms were given details about the report simply by calling into the BLS more than 15 minutes before they finally and very reluctantly posted it to the site.
According to Bloomberg, “at least three banks managed to obtain key payroll numbers Wednesday while the rest of Wall Street was kept waiting for a half-hour by a government delay that whipsawed markets and sowed confusion on trading desks.”
This could have given these investors a nice head start, potentially profiting from the information before it became public knowledge. Many investors were waiting impatiently for the data as it was expected that this year’s revisions would be unusually large.
The bureau isn’t commenting on how some users got the information early or why the release was delayed, although it’s yet another embarrassment for the Biden administration considering the fact that the delayed information was a correction of information they released previously and botched – or, as many people believe, intentionally misrepresented in hopes of painting a more favorable picture of the economy ahead of the election.
It turns out that they made a downward revision of 818,000 jobs in the 12 months through March – that’s nearly a million jobs the Biden administration claimed were created that actually never existed.
This is the second largest annual overestimation of jobs numbers in the history of the U.S. and the biggest downward revision since 2009, raising a lot of questions and putting the Biden administration’s complete incompetency on full display yet again.
Multiple instances of selectively sharing crucial economic information
This wasn’t even the first time they let something like this happen. Earlier this year, a Labor Bureau employee actually sent information about housing inflation to a group of so-called “super users” made up of hedge funds. The issue was a hot topic among investors at the time, and the information had the potential to give them a sizeable advantage over their less-informed peers had it not turned out to be inaccurate in the end. Nevertheless, leaders of the agency admitted that sharing such information on a selective basis was inappropriate.
They also “inadvertently” posted eagerly awaited data about the Consumer Price Index in May well ahead of the official release time, which meant that the Wall Street firms that closely monitor such information may have caught it ahead of less sophisticated interested parties.
SMBC Nikko Securities Americas’ Senior U.S. Economist Troy Ludtka said: “To put it in the most generous terms: Government agencies absolutely cannot be selectively releasing critical, market-moving information to some agents and broker dealers first via telephone while keeping others in the dark. This is anathema to the very idea of a balanced market built on fair, accessible information.”
Of course, the Biden administration has already proven time and time again that it is not interested in fairness or truth, and this fiasco drives all those points home quite nicely.
Sources for this article include:
US has nothing but a Potemkin Economy….. all show…NO substance…
Ditto its UK Yapping Poodle…. so it’s no wonder that these two want war to cover up the decades long theft by (((Wall St))) & (((The City)))
It doesn’t mean anything, since the average American is a moron who votes for 1 of 2 CIA controlled parties (R/D) for Commie candidates in rigged elections.
“…frustrated investors ended up having to refresh their browsers repeatedly as the government website, which presumably has some of the best IT minds in the country running it, repeatedly failed to update.” … How dangerously f*cking stupid are those “investors”? The average person, even though most of them are imbeciles, can easily ascertain from simple experience that we are in a world of shit and the economy is lukewarm pig piss with some sparkles dusted in to try to distract from reality. The average person knows this to the bone with every escalating bill they have to pay, with every trip to the grocery, with every fill-up at the petrol pump, with ever-escalating rents, mortgages, and insurance payments, all the while getting shoved over a barrel and sodomized by the Jew-run system of robbery and rape masquerading as a “banking” system, as the federal cartel pimp-slaps the citizen with a big rubber dong smeared with shit.
But we are to believe the financial “experts” were anxiously hanging on for a golden shower and Cleveland steamer (look it up) of completely fabricated data from the lying, stealing, murdering federal cartel? They didn’t need to furiously refresh their browsers, they just needed to try to buy some groceries or rent some reeking hovel.
Truth finally exposed .. haha .. while the federal corporation is being brought down before the eyes of the world .. now they make preps for Charles’s funeral, when Charles goes it’s the end of British monarchy ..
Oh surely he has created more jobs for antifa + other
wok gender agents, for IRS;CIA;FBI;FEMA + for false flag
actors etc + training chinese + other illegale troops, now legales .
also more snitches want to be payed .
@PETER PETHERINGTON
thats right POTEMKIN !
what else we can expect from a fraudulent insidious actor ?
Finally revealed????
Why just lynch Biden? Nazi Amerika began its decline in the 1970’s, but was obvious during Clinton’s last term, and since then, it’s been all down hill.
The US Nazis have consistently lied about the jobs data for 20yrs. There’s around 100 million working age Amerikans who aren’t in any gainful work, just as the UK has 10 million who aren’t seeking paid work, or even claiming benefits.
The Daily Fail calls them work shy, but the truth is for many, working in the UK isn’t a pleasant experience.
I find it alarming that so say alternative media types come across as if this is a revelation. It’s not, it’s very normal.
@CARL JONES
dont worry ! CARFENTANYL is Bidens solution !
Good, because nearly all new jobs go to non-Whites in any case