Business Survey Shows High Inflation, Layoffs

Obama campaign lackeys are out in full-force spamming conservative and libertarian Facebook pages, perpetuating the falsehood that the economy is improving. In response to an encounter with such a paid operative on my own page, I presented the following rebuttal: 1) the September jobs report was statistically impossible, 2) the oft-cited improvement in retail sales is false, 3) the new orders of capital goods report suggests recession, 4) 20 states are indicating recession, and 5) the Fed itself has admitted that it's propping up the market to the tune of 50%. But it didn't matter. Liberals ignore facts.

The false narrative that the economy is improving has also been perpetuated by those generating the "official" economic data these lackeys have been tirelessly pushing. The September jobs report is obviously the best example of government drones shamelessly producing false data that benefit their master, but the October Philly Fed Business Outlook Survey (.pdf) is also a good example. The opening sentence of the survey describes a "modest improvement in business activity". However, a cursory glance at the data shows the "modest improvement" was accompanied by significantly higher prices paid for goods sold (so much so that profits have eroded-- how's that for an "improvement"?) and a steep increase in layoffs. Lies, damned lies, and government statistics that benefit the incumbent.