In a pretty stunning turn of events, the labor lies of the Biden administration finally became too much for Jerome Powell of the Federal Reserve to bear.
So he said this:
“There is an argument that payrolls may be a bit overstated” is a very carefully crafted bureaucratic sentence that translates to “Liar, liar pants on fire!”
We’ve been covering this parade of fibs for many months now by observing that each month is a fantastic beat to the upside for jobs that will be quietly revised downward in later months. How much? An average of 60,000 jobs per month over the past 12 months – a nearly flawless record of BLS failure.
And, the lies don’t begin or end with the McJobs report, but extend to all sorts of goobermint [sic] statistics, especially inflation.
And this week’s whopper of a lie fest was not a disappointment!
Here’s one small taste:
I could just about strangle a BLS statistician, but I think instead I’ll shove one of my health insurance premium bills into their mouth while telling them they are actually experiencing Hagen Daz vanilla bean ice cream.
A country that lies to itself this comprehensively is on the path to destruction, the same as any company that fudges its books.
Next, the loss of petrodollar status for Saudi Arabia is a H.U.G.E. deal if true. Really big. It seems to be true, but we’re out here in the cheap seats, so hard to know for sure what’s happening.
How does all this affect a portfolio and investment strategy? Tune in to find out…
Peak Prosperity endorses and promotes Kiker Wealth Management’s financial services. To arrange a completely free, no-obligation discussion of your personal financial circumstances and goals with someone who speaks your language and thoroughly shares your outlook on the world, please click this link to go to Peak Financial Investing to begin the process.
FINANCIAL DISCLAIMER. PEAK PROSPERITY, LLC, AND PEAK FINANCIAL INVESTING ARE NOT ENGAGED IN RENDERING LEGAL, TAX, OR FINANCIAL ADVICE OR SERVICES VIA THIS WEBSITE. NEITHER PEAK PROSPERITY, LLC NOR PEAK FINANCIAL INVESTING ARE FINANCIAL PLANNERS, BROKERS, OR TAX ADVISORS. Their websites are intended only to assist you in your financial education. Your personal financial situation is unique, and any information and advice obtained through this website may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances.