ECONOMICS

Authored by Mike Maharrey via Money Metals,

The Federal Reserve boasts of its data dependence. But what if it’s relying on bad data?

Even worse, what if it’s plugging that bad data into a faulty model?

In July, the Bureau of Labor Statistics (BLS) made massive downward revisions to the job numbers. Poof – the agency simply erased 111,000 jobs from existence.

This has been an ongoing pattern. The BLS releases a report. The media trumpets the greatness of (more…)

Authored by Mike Maharrey via Money Metals,

To steal a phrase from Thomas Jefferson, the Federal Reserve and the U.S. government have buried us under a "deluge of paper money." 

We deal with the consequences of this monetary malfeasance every time we go to the grocery store or the gas station. Our rapidly deprecating money buys less and less every single day.

Central bankers and politicos claim to be fighting this inflationary monster, but the ugly truth is (more…)

Following last month's modest miss in CPI which sparked speculation about a 50bps cut, which was then boosted by the jobs report miss and the huge downward revision, moments ago the BLS reported that – as only a handful of Wall Street strategists warned – CPI actually came in hotter than expected at the core level, rising 0.3% MoM vs expectations of a 0.2% print, with all remaining metrics coming in line (more…)