Monday, October 31, 2005

Consumer Spending Bounces Back in September

Excerpt from ABC News:
Consumers got back into a buying groove and boosted their spending by a solid 0.5 percent in September. Incomes also grew briskly.

Wait a minute. Didn't over half a million people loose just about everything they owned in late August and early September?

Think that may have had something to do about it-along with FEMA payments?

RE: Consumer Spending Bounces Back in Sept.

And incomes rising usually means that CEOs are making more money and it's all averaged in.

Then again the fact that the Bush administration's Bureau of Labor Statistics is using a model that makes up imaginary new jobs* shows you really can't trust them on any of their statistics.

BTW, a more up to date statistice shows Consumer Confidence Unexpectedly Falls

*In May 2004, John Crudele at the News Corp owned (so don't go liberal press on me) New York Post, reported that an analysis of the Bush administration's Labor Department's new formula for tracking the number of jobs in the US was fixed to make up imaginary new jobs under certain economic conditions (many of which would be active while the US economy was recovering from the recession of the early aughts). This new modeling was installed in January 2004 just in time for the presidential election year. Just get to Usenet (Goggle groups will do and search on "What are they smoking at the Labor Dept") You will be able to find a copy of what I read when it was still available at the New York Post Site.

Here is a copy of WHAT ARE THEY SMOKING AT THE LABOR DEPT.? that I can certify is what Crudele wrote.

Here is another copy of WHAT ARE THEY SMOKING AT THE LABOR DEPT.? with an excerpt taken from the article on what the poster considered the important part put at top.

And here is a third good copy WHAT ARE THEY SMOKING AT THE LABOR DEPT.?.

So if someone starts bogus postings on this we'll know. (Well, usually we can tell by the inferior writing skills, too.)


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