SPDR S&P 500 (SPY)

[Two-timer]

Well, tomorrow at 8:30 Eastern we find out the "unemployment rate." For years, this and other reports have been fudged by our government and have served as the catalyst for many a market rally. My friend, Jessel, over at Jesse's Cafe Americana, wrote this about the recent ADP report. Like the rest, this was another fudge job. Two
=================

"April’s reading was revised to show a reduction of 545,000 workers, up from a previous estimate of 491,000."

Is an 11% month over month change in an employment number a revision or a rewrite?

The ADP report is supposed to be based on actual reports from private industry.

This pervasive pattern of 'good numbers' that result in stock market rallies and the massaging of public opinion, only to be replaced by downward revisions thirty days later, with little notice or quote, is cynical manipulation of the media at best, and a dangerous slide into social engineering by an increasing distortion of 'reality' at worst.