The Fed’s Market Myth is Unraveling Before Our Eyes… A Bloodbath is Coming
By: Graham Summers
GoldSeek.com
Friday, 23 September 2016
So much for the narrative.
The latest myth being promoted in economic circles is that median income growth exploded higher last year. The people promoting this myth obviously didn’t bother reading the actual report and don’t understand what the word “median” means.
A big hat tip goes to John Williams who actually DID read the report and found that the Census has adjusted its methodology to include what interest income WOULD be if rates were not at zero.
In this manner, the Census was able to claim interest income INCREASED 111% during a period in which the US interest rate was 0.25%.
By the way, the White House controls the Census. It must be complete coincidence that during an election year suddenly the data got so much better based on fantastical assumptions.
Regardless, the report is just the latest in politically driven economic propaganda. This includes the jobs data.
We are lead to believe that jobs are strong and that the US is “fully employed.” Setting aside the fact that 94 million people are out of the workforce, and 46 million are on food stamps, let’s focus on the notion of “jobs.”
When someone gets a “job” that person begins to pay “income tax.” The Government loves this because it funds revenues. Which is why it’s rather off that if employment is indeed rising, income taxes being withheld have FALLEN for the last two years.
Either those “jobs” don’t actually pay income… or the “jobs” don’t actually exist.
The Rest…HERE
