Sunday, November 11, 2012

Reality strikes for food stamp numbers as data download continues after election

Most people with any financial sense knew the BLS data regarding the unemployment rate falling .03 in September was a lie, and sure enough, the data download of real economic indicators after the election bears this out.  Not only did Goldman Sachs immediately on Nov. 7 issue a warning that GDP for the 4th quarter would decline from 1.9 to 1.5%, but on Nov. 10, the Bureau of Labor Statistics (BLS) reported that food stamp applications for October were the highest in over a yea.

There was, however, another closely tracked number which perhaps is far more indicative of the economic "growth" in the past 4 years, which certainly had a delayed release. The number of course is that showing how many Americans are on foodstamps, and usually is released at the end of the month, or the first day or two of the next month. This time the USDA delayed its release nine days past the semi-official deadline, far past the election, and until Friday night to report August foodstamp data. One glance at the number reveals why: at 47.1 million, this was not only a new all time record, but the monthly increase of 420,947 from July was the biggest monthly increase in one year. - Zeroehedge

When you win an election through data manipulation, reporting bad numbers after the fact is in itself a strategy.  President Obama can use these numbers to force a new economic plan on the American people, while ensuring one third of the entire work force is bound to government reliance, and accordingly, political reliance.


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