If the Bureau of Labor Statistics puts out a negative report, and then the head of the BLS gets fired for allowing a negative report to go out, how can anyone still rely on those statistics?
If the Bureau of Labor Statistics puts out a negative report, and then the head of the BLS gets fired for allowing a negative report to go out, how can anyone still rely on those statistics?
byu/Bigcouchpotato1 ineconomy
Posted by Bigcouchpotato1
17 Comments
You can’t and that’s the problem. On to the fed!
Depends on if the negative report was correct or politically motivated
Conservatives will provide an answer to this I’m sure. Trump supporters know that it’s important to provide clear, logical explanations for things and will absolutely step of and explain what they believe, because they’re totally not all illiterate dipshits, right?
You can’t.
Look into spx6900, it’s fixing this.
They dont they look to challenger and grey and adp.
There’s correlating statistics that we see in the market. There never is one stat that rules them all and it’s an amalgam of data. Even benchmark gold standards such as the labor data is subject to major revisions because of how the data is collected and the surveys coming in late may be from more distressed businesses. As with all things, the devil is in the details and if you are not savvy enough to be able to sift through it, there are plenty of incredible analysts that live and breathe the data who do and they have great insights on the matter. With that, you may then have an advantage and see around the corner, further than the competitors and make more money.
That’s the neat part.. you don’t.
Honestly in the last decade I don’t really trust most statistical reports because frequently when you dive into the things they include to get the statistical outcome they want things start to get sus fast.
They’re all fucking with shit to show the result they want.
And I don’t just mean at the federal level.
Even your local crime stats are all smoke and fucking mirrors.
They didn’t get fired for a negative report.
They got fired for stating a number then revising it by like 200% every month for like 2 years
You can’t. But I’d argue post-Covid bls statistics are bs statistics not just now
I don’t trust any information that comes out of this administration. Not one damn thing.
This is the exact problem that’s causing people to trust government data much less than they used to. The second-order effects are worse if you can’t trust official statistics, what do you trust instead? Private data sources or anecdotal evidence? That fragments information and makes collective decision-making harder for businesses, investors, and policymakers.
You can’t run an economy or financial markets efficiently when the scoreboard is rigged or unreliable.
The point is we won’t. Part of Project 2025 is to make us distrust the current government and bow down to a fascist government.
Channel your inner ostrich. It’s the GOP’s new mascot.
You cannot believe any thing that comes out of a Trump involved government.
Yeah they can’t.
Reddit is an echo chamber for this headline and the real world reporting isn’t.
However the dog on the street knows these figures can’t get trusted.
I’m just waiting for this all to be over and then enjoy running the lies and waffle back to those whole will inevitably spin it.
We need an Aldo Raine.
Multiple past BLS Commissioners (Erika McEntarfer, Erica Groshen, Will Beach) have explicitly supported the current BLS leadership and statistics.
They have also consistently said that manipulating BLS statistics would be extremely difficult and there would be visible whistleblowers and resignations if it were attempted.