We Need To Talk About Why The Dollar Is Dying And How The Employment Numbers Are Being Manipulated

Michael Snyder is the publisher of , The American Dream Blog and The Truth

Why can’t we just be objective about the economic numbers?  When Joe Biden was in the White House, many Republicans (including Donald Trump) used the word “fake” to describe the economic numbers that the federal government was putting out.  And as I documented extensively throughout the Biden administration, the rosy economic numbers that we were getting from the federal government certainly diverged greatly from reality.  But now that Biden is out of the White House, we are suddenly supposed to believe that the federal economic numbers that are being calculated by the exact same people as before are somehow legit?  Come on.  If the government was giving us “fake” economic numbers six months ago, they are still giving us “fake” economic numbers today. As I will discuss below, the same absurd “adjustments” that were being made during the Biden administration are still being made now.

Just yesterday, I wrote about how non-government numbers are showing that the labor market in the U.S. is dramatically shifting.

But then the BLS released their employment report for last month, and we are being told to just forget what all of the other numbers are telling us…

Job growth proved better than expected in June, boosted by government hiring, as the labor market showed surprising resilience and likely took a July interest rate cut off the table.

Nonfarm payrolls increased a seasonally adjusted 147,000 for the month, higher than the estimate for 110,000 and just above the upwardly revised 144,000 in May, the Bureau of Labor Statistics reported Thursday.

The people that are running around proclaiming that this is “great news” don’t even understand what they are talking about.

First of all, we need to create approximately 150,000 jobs a month just to keep up with population growth.

So even if this report was accurate, which it is not, it would indicate that we are simply treading water.

That is not exactly something to celebrate.

Secondly, it is important to understand that the “147,000 new jobs” figure was only arrived at after a number of assumptions and adjustments were applied to the raw data.

I asked Google AI to tell me about how government economic numbers are manipulated, and this is what I was told…

I am particularly critical of the birth/death adjustments.

Each month, the BLS simply estimates the number of jobs that are being created by new businesses and adds that to the total.

Many have pointed out that the number that they come up with out of thin air is often way too high.

That is just one of the reasons why it has become so difficult to get a negative number.

Conditions have to be really, really bad in order for the BLS to report that the U.S. is actually losing jobs.

In fact, the last time we had a negative number was in 2020 during the early days of the COVID pandemic.

It is a rigged game, and even the Washington Post is openly admitting that government statisticians are starting “to rely more on statistical estimates than hard data”…

U.S. policymakers are increasingly anxious about the integrity of certain government benchmarks, the crucial data points that help the Federal Reserve assess the economy’s health and guide interest rate decisions.

The problems have led staff at certain agencies to rely more on statistical estimates than hard data, potentially fueling volatility in benchmarks, particularly for inflation readings from the Labor Department. Falling response rates to government surveys, coupled with pandemic-driven seasonal quirks and long-standing budget strains, have made it harder to collect and analyze reliable data — including for an employment report due Thursday. Agencies have also shed staff through early retirements, deferred resignations and normal attrition.

And the chief economist at Moody’s Analytics is warning that the numbers that we are being given by our own government are becoming increasingly shaky…

Mark Zandi, chief economist at Moody’s Analytics, said the quality of U.S. economic data is becoming increasingly shaky just as the country faces major shifts from trade, immigration and other policy changes — a time when better investment in data is needed.

Among multiple worrying trends, he pointed to the combined 95,000 downward revisions, announced last month, to job gains in April and March, an outsize number of revisions that could be at least partly driven by ongoing strains at the Labor Department.

“There’s no smoking gun, yet, but there is smoke,” he said.

Personally, I lost faith in government economic numbers long ago.

As I discussed yesterday, I am convinced that the economic numbers that we are getting from private sources are far more reliable.

And those numbers clearly paint a picture of an economy that is crumbling.

We are a nation that is absolutely drowning in debt.  Meanwhile, the housing market is in a depressed state due to high interest rates, employers are conducting mass layoffs all over the nation, our cost of living crisis never seems to end, and the global trade war is causing all sorts of chaos for U.S. businesses.

The rest of the world can see what is happening, and they are losing confidence in our currency.

The value of our currency has now fallen for six consecutive months, and it is being reported that the U.S. dollar is “suffering its worst start to a year in more than five decades”…

The United States dollar is suffering its worst start to a year in more than five decades, likely triggering a price hike for some everyday items and a jump in expenses faced by travelers abroad, some analysts told ABC News.

The greenback has fallen more than 10% in value this year relative to a group of foreign currencies that belong to top U.S. trading partners.

Investors have fled U.S. dollars out of fear inflation could devalue the currency, especially as Congress has moved forward with a large spending bill set to worsen a decades-long trend of ballooning U.S. debt, analysts said.

This is something that government statisticians cannot spin.

Our currency is steadily getting weaker, and that means that we are steadily losing purchasing power…

At home, a bigger concern is inflation, and lost purchasing power for U.S. consumers and businesses, who still remain heavily reliant on imports. Until America is able to sustainably produce more goods on its own at higher volumes, purchasing power will decline as it becomes relatively more expensive to import goods from abroad.

In the meantime, analysts say, a more alarming trend may be taking root: Foreigners are no longer buying U.S. financial assets, like stocks and bonds, at the levels that have allowed the U.S. to finance its trade deficit in the first place.

Don’t be fooled.

The U.S. economy is definitely not in good shape.

If it was, the value of the U.S. dollar would not be dropping like a rock.

Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

About the Author: Michael Snyder’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com.  He has also written nine other books that are available on Amazon.com including “Chaos”, “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”.  When you purchase any of Michael’s books you help to support the work that he is doing.  You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter.  Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites.  These are such troubled times, and people need hope.  John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.”  If you have not already done so, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.

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