Erick-Woods Erickson
There are many people on both sides of the aisle who believe the government intentionally rigs financial data in order to influence public perception. This isn’t entirely true but it also isn’t entirely false.
When the Chinese government reports financial data, you objectively do not know if it is true. The black box of the Chinese economy is unilaterally controlled by President Xi’s CCP and has no checks and balances provided by nonpartisan entities. The United States has countless financial institutions on Wall Street and elsewhere that monitor the data produced by the government.
However, due to the complexities of data gathering, the recent employment data has required substantial revisions over the past year. In short, Goldman Sachs is predicting that the number of jobs added to the economy will be slashed by up to 1 million positions after the revision is complete. This will mark the single largest correction in 15 years.
Democrats are lecturing Americans at the DNC this week on the merits of Biden’s economy. Despite all of the data pointing to an inflation-fueled crisis that is crippling American families, Democrats have demanded that you ignore your lived experience and simply be grateful. Watch:
