The latest BLS report was questioned by Jack Welch for its incredibility. For that Mr. Welch was roundly criticized by the liberal media. It is their job to try to push their comatose and failing President across the finish line.
Little Obama or his administration says will come under question unless it threatens the media’s survival. The Libyan fiasco, with four Americans killed and the disgraceful coverup and denial by Administration officials might be just such an event.
Nothing in the economic arena appears to arise to such a level. As egregious as the labor statistics were, the other economic statistics are just as bad and have been for several years (more than that according to Shadowstats.com
The Daily Bell has an interview with Jim Rogers, legendary investor. Rogers comments on several aspects of government data, including this comment on reported inflation:
We already have inflation. Nearly every country in the world has acknowledged inflation. India, China, Norway, Australia – most acknowledge there is inflation except the US. The US says there is no inflation. The Bureau of Labor Statistics has been misleading us for a long time. Anyone who shops knows there’s inflation and it’s getting worse. Whether it’s education or entertainment or healthcare, anything, prices are going up. Worldwide inflation is going up and it’s going to get worse before it gets better.
Do not use government statistics or claims to make investment decisions.
For those interested in a more in-depth discussion of the underlying problems, beyond the statistics themselves, Zerohedge provides 15 videos dealing with the corrupted system.