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No One Questions the Bureau of Liar Statistics, Why?

Sara Murray over at our competitor, Rupert Murdoch’s WSJ (ha! some competition), put up a piece today on the latest metro area unemployment rate data from the BLS (Bureau of Liar Statistics). Naturally, these numbers do not count the underemployed and those whom the BLS decided to not count as part of the labor force, i.e. discouraged workers. Add another 10% to those numbers and the picture of this depression would be all the more stark.

Has anyone ever considered the sheer insanity of dropping people from those counted as unemployed because they have found the situation so hopeless that they are too depressed to look for work. Why aren’t we questioning the gummit for presenting the data in a way that is so blatantly skewed toward under stating the harsh reality? Is it that we can’t handle the truth?

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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