Lies, Damned Lies and JPMorgan
When you don't fear prosecution, you're free to do and say anything you'd like.
The Corruption is total and rampant. But it's not just the TBTF banks. It's the media which shills for them. It's the pundits who misinform and disinform for them. And it's the bureaucrats and politicians, each one playing small roles as accomplices and co-conspirators.
Today, we got another BLSBS report. "Hampton Pearson at The Labor Department" breathlessly informed us how wonderful the numbers are, particularly the "huge" improvements to the prior month's data. Zandi beams, Goolsby gloats and LIESman smiles. Ain't it grand? "You see, that's why the stock market has been moving up! It's a forward-looking indicator!! Yes, indeedy!!!"
Just brutal. Of course, no mention is made of the Participation Rate being stuck at 1979 levels and certainly no mention of which types of "jobs" were supposedly "added". It's all just A Big Joke. Once again, ZH cuts through the Lies and BS and lays it all out here: http://www.zerohedge.com/news/2013-05-03/average-weekly-hours-law-large-numbers-and-april-618000-payroll-decline With apologies to the Tylers, here are the main paragraphs you need to read:
"It is when one considers that there were 135,474,000 full time Establishment Survey employees in April (rising by the much trumpeted 165,000), all of which worked on average 34.4 hours (down from 34.6 in March) according to the BLS. Multiply these together and one gets 4,660,305,600 total hours worked in April, a drop of 21,385,800 million hours from the 4,681,691,400 total hours worked in March.
Then apply the average hourly wages of $23.83 in March and $23.87 in April, and the total wages paid out in March ($111.565 billion) compared to April ($111.231 billion) amounted to a drop of $323.2 million.
Had the average weekly hours stayed flat as expected, this number should have been an increase of $323.5 million or a $646.8 million swing!
In other words, the US economy added 165,000 jobs and yet US businesses paid $323.2 million less in total wage compensation: only the second time there was a decline in the gross total monthly wages paid in 2013.
What does this mean for the bottom line?
Well, had the BLS reported flat average weekly hours worked at 34.6 as Wall Street had expected, while companies were paying out the same amount of hourly wages in April, the result would have been that instead of the BLS reporting a 165,000 increase in jobs, it would have had to report a drop of, drumroll, 618 thousand workers, or total April workers of 134,690,913: a 783 thousand negative worker swing, more than wiping out not only all the gains of April, but all prior upward monthly revisions as well."
You see? It's all just one big, stinking pile of force manure. Have you heard this explained on CNBS? Have you read this analysis on MarketWatch? Of course not. The Big Lie must be maintained.
And then you have this. Breaking late last evening and discussed in the previous thread, our old pal The Wicked Witch seems to be in a heap of trouble. http://dealbook.nytimes.com/2013/05/02/jpmorgan-caught-in-swirl-of-regulatory-woes/?smid=tw-bna But is she really? Did you already forget that Jamie Freaking Dimon himself was accused of lying and deceiving Congress back in March? http://www.zerohedge.com/news/2013-03-14/too-big-regulate-jp-morgan-lied-and-deceived-regulators-investors-and-public-senate- Why should Blythe be worried when Jamie still walks the street? And why should she worry when her entire firm operates with impunity because of its "systemic importance"? This: http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/untouchables/senators-bash-doj-for-evasive-response-on-too-big-to-jail/ leads to this: http://dealbook.nytimes.com/2013/05/02/jpmorgan-caught-in-swirl-of-regulatory-woes/?smid=tw-bna
So, in the end, what does it all mean?
The Criminals and their accomplices are pervasive and everywhere. Though they remain in control and unchallenged, their reign of lies is fleeting. As this pertains to gold and silver...TAKE DELIVERY AND STORE OUTSIDE OF THIS CRIMINAL SYSTEM. The TBTF banks have built a fractional reserve structure (full of lies and empty promises) that is doomed to failure, perhaps even in the short term. Your window of opportunity to act is closing. (Read this from Denver Dave: http://truthingold.blogspot.co.uk/2013/04/the-global-fractional-paper-bullion_6103.html) Please do not be deceived by the liars and please keep adding to you stack.