"However, I recently begin looking at a different report – reported by the same BLS – that releases the same data, but on a state-by-state basis. I was motivated to do so after reading the unmitigated drivel in a recent article from the Financial Times which was analyzing the U.S. jobs reports. The following statement caught my eye:
Although U.S. joblessness has shown signs of easing nationally in recent months, it continues to accelerate at the state level.
In other words, the oxymoron which the Financial Times (and the rest of the propaganda-machine) is trying to pass-off is that the United States has two, entirely separate economies. There is the “national” economy - where the propaganda-machine assures us “the recession is over”, then there is the separate, state-by-state economy, where the “recession” continues to get worse."
Wednesday, September 23, 2009
Jeff Nielson in Seeking Alpha dissects a propaganda piece:
Posted by Mother of All Carry Trades at 4:24 PM