XPost: alt.government.employees, alt.politics.republicans, alt.f   
   n.rush-limbaugh   
   XPost: sac.politics, talk.politics.guns   
   From: yourdime@outlook.com   
      
   Yesterday, Steven Moore and President Trump had a little press conference.   
   Here is the video.   
      
   https://youtu.be/JsA_mdHszYA   
      
   Overstating job data to make Biden look good has numerous unintended   
   effects.   
      
   The press happily repeats the numbers without any thought about them. The   
   fourth estate is a bankrupt and bereft place where objectivity is gone.   
      
   First and foremost, the Federal Reserve looks at BLS data closely. The Fed   
   makes policy based on good job numbers. Overstating employment data makes   
   the Fed think they shouldn’t cut interest rates because their dual mandate   
   is fighting inflation and employment.   
      
   Could the Fed reconsider its decision from the last FOMC meeting now,   
   given the accuracy of this press conference data? The Bank of England just   
   cut rates to 4%. The EU has cut rates.   
      
   You might be paying a higher mortgage rate, a higher car loan rate, a   
   higher personal loan rate because of the fakery. The federal debt is so   
   large that a one percentage point move lower in rates results in an almost   
   $400 billion drop in the deficit due to lower refinancing costs.   
      
   Having a higher rate of interest slows the economy. It also makes the   
   dollar stronger, so US goods are artificially more expensive when   
   exported. It also changes the internal hurdle rates companies use to   
   decide whether to invest in new projects or not.   
      
   Wall Street relies on good numbers to make forecasts. That number affects   
   trading strategies and it affects the pocketbook of every American since   
   our stock indexes fluctuate around those numbers, and the anticipation of   
   what policy might be given those numbers.   
      
   Academic studies in colleges and universities rely on good data from the   
   BLS. PhD students and professors will do studies modeling theories based   
   on those numbers. If they aren’t good numbers, the theories and models are   
   junk too. Often, private industry will adopt some of those studies as best   
   practices and integrate them into company culture so they can compete   
   better in the marketplace.   
      
   Small businesses might guide some of their decision-making based on   
   employment numbers. If employment numbers look bad, they will gird   
   themselves against a potential recession.   
      
   https://floppingaces.net/most-wanted/blsgate-how-bidens-fake-jobs-data-   
   rigged-the-economy-and-robbed-you-blind/   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)