“Lies, damned lies, and statistics” is part of a phrase attributed to the 19th Century British Prime Minister Benjamin Disraeli. If you believe what the government is feeding you then good luck.

I am far from an economist so I cannot say that unemployment is what it is. But if you stopped looking for work you are not counted as “unemployed.”

The Fed held rates steady today – no surprise. They also said they’d slow down their purchases of Treasury securities which is sort of the same thing as raising rates. Less liquidity is less liquidity.

The point of this post is to warn you not to believe anything but the market when you try to figure out what the market is doing. The technical tools are working a bit off but at least they are derived from the market. Economic statistics are man made, subject to revision and are no better than funnymental projections of next years earnings.