Non-Farm Payroll: “Something Must Be Horribly Wrong For Them To Be This Blatant”

• Non-Farm Payroll: “Something Must Be Horribly Wrong For Them To Be This Blatant”
  by http://investmentresearchdynamics.com/  
  When the propaganda gets so bad that Wall St. Journal readers respond with threats of violence [to the Hilsenrath editorial], you know the lies are getting extreme. Regarding today’s NFP, the numbers are beyond absurd. 57k jobs added in hospitality and leisure? No one has money spend and everyone knows that. We used to laugh at the propaganda numbers coming from the old Soviet Union. The numbers coming from the U.S. Government are a bigger farce than the old Soviet Union’s propaganda…Don’t hold your breath waiting for the Fed to raise rates.  –  John Titus, Best Evidence 
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  The title quote comes from John Embry.  I was going to do a detailed dissection of the Bureau of Labor Statistics non-farm payroll data to show why the numbers are simply can not be believed.  But it’s become a pointless and repetitive exercise.
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  A colleague of mine thought that next to the October 2012 pre-election NFP, this was the most fraudulent report ever released.  I disagreed because at least back then the GDP reports, for as rigged as they are, were at least showing “growth” would could be used to “justify” reported employment gains.
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  Today’s report was far more fraudulent than the October 2012 fairy-tale for two reasons. First, we expected the pre-election 2012 fictitious report for obvious reasons.  But second, by the Government’s own numbers the economy contracted in Q1 2015.  Moreover, almost all of the economic data released in April and May showed not only further economic contraction but also that the rate contraction increased.   In Q1 2015 corporate profits dropped by the most amount since 2008 .   Companies DO NOT hire people when their business is contracting.   The non-farm payroll report is a complete fraud.
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  The non-farm payroll report is the poster-child for everything that is wrong with our country.  The banks have been announcing 10’s of thousands of layoffs coming.  Banks are downsizing because lending activity of all sorts is declining.  When there is no economic activity to finance, it means that the economy is contracting and businesses fire – not hire – workers.  Hewlett Packard, one of the countries largest business services companies announced yesterday that “more layoffs are coming”  LINK.  That means the same holds true for every other large technology/business services company.   These companies did not hire 63,000 people in May only to turnaround and fire them in June.
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