COVID: The Great Economic and Political Hall-Pass
If every time I stole a cookie from the jar in front of my mom (age 8), or drove dad's car (sometimes into a tree) without permission (age 16), failed a dorm-room inspection (age 17), broke a lawnmower for driving over a fence post (each year) or forgot a key anniversary (eh-hmm), it would have been so convenient to have a universal "hall pass" to excuse what is/was otherwise just plain stupid behavior.
Luckily for the grown children running our global financial system into the ground, the COVID pandemic is becoming precisely that: "A global hall pass for excusing decades of stupid."
As we've written many times, inexcusably high debt levels, tanking growth data, struggling work force figures, embarrassing wealth disparity and insider market rigging between Wall Street and DC was well in play long before COVID made the headlines.
But now, the architects of such "pre-COVID stupid" have the current COVID narrative to justify and excuse even, well… more stupid.
The Latest Jobs Report "Explained" …
Take, for example, the latest job reports data from those DC-based creative writers at that comic-book publication otherwise known as the Bureau of Labor Statistics (BLS).
Known for years on Wall Street as mathematical magicians capable of turning 12% inflation into a 2% CPI lie, that same BLS is operating yet again to fib away the latest (and otherwise telling) jobs data.