Government data’s credibility plummets while economic realities reveal struggling finances

The skepticism towards government data, particularly from the Bureau of Labor Statistics, has reached a point where credibility is questioned.

Does anyone seriously believe the government data from the Bureau of Labor Statistics anymore? Their credibility is worse than the CDC and the FDA.

Soft landing …
Cooling economy ….
Meanwhile people are broke 🤡 pic.twitter.com/62q9us5L0u

— Wall Street Mav (@WallStreetMav) November 15, 2023

Another main story today is the 📉 in Health Care Insurance down -34% (doesnt make sense) but thanks to a NEW method by @BLS_gov

Summary: It's not your premium they measure but health insurer PROFITS, factoring in plan differences. Company profits dip, causing the -34%.

🤡🌎 https://t.co/4fcf1ZFR3c pic.twitter.com/av42Fa583J

— The Coastal Journal (@1CoastalJournal) November 14, 2023

Smells like manipulation. https://t.co/cKBE4hedSl

— Financelot (@FinanceLancelot) November 15, 2023

Let's do the actual math, shall we? The BLS says an average family spends 52 cents out of every $100 on Health Care insurance.

Assuming a family earns $100k and they buy medium crappy coverage, the BLS is only off by a factor of (drumroll) 42.

21% vs. 0.52% https://t.co/zEZNjkDoYL pic.twitter.com/Hcy2gFoSRB

— Chris Martenson (@chrismartenson) November 14, 2023