Long-suffering readers will be aware of our low opinion here at Notes of government economic statistics. The truth of the matter is that many of them are fudged. Don’t just take our word for it. According to Kevin Philips, former Republican Party strategist and author of Bad Money, “Ever since the 1960s, Washington has gulled its citizens and creditors by debasing official statistics, the vital instruments with which the muscle and vitality of the American economy are measured.”

Both sides of the ship…  Currencies remain well bid…  ECB and Riksbank meet this week…  Baiting the hook for more stimulus? And Now… Today’s Pfennig!

The Bureau of Labor Statistics of the U.S. Department of Labor reported that nonfarm payrolls fell by a whopping 533,000 jobs in November, and the official government-approved unemployment rate rose from 6.5 to 6.7%.

In the currency market, the dollar was shoved down mercilessly against the euro. Late Friday, the euro was trading at $1.5777 vs. $1.5568 on Thursday.

Slowly but surely, awareness is growing that government economic figures are being cooked.

Did you notice the government’s latest figures on gas and food prices? If you didn’t know what was going on, it could have given you a “what the heck” moment.

This is getting interesting. The proposition that the government is fudging the major economic figures is starting to go mainstream.

The Bureau of Labor Statistics reports the national employment data based on an archaic model that omits various important factors when calculating its report. Any guesses as to how the Mogambo feels about that? That’s right, “We’re freaking doomed!”

Do you think the consumer price index understates the real cost of living? Well then, the New York Times says you buy into “conspiracy theories.”

The Bureau of Labor Statistics (BLS) reported another sharp increase in producer prices during March. Finished goods were up 1.1% and intermediate-level goods rose 2.3%, pushing the year-over-year rates to 6.9% and 10.6%, respectively, in the month of March — the biggest yearly increases in this price indicator since 1981.