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April 11, 2024

Fathomless Corruption: The Bureau of Labor Statistics Shared Confidential Information About the Economy with "Superusers" Like Hedge Funds and Blackrock, Before That Data Was Shared With the Public

Several points:

Hedge funds and giant investment groups like Blackrock are infamously leftwing and Democratic. I guess it just worked out that way!

Occasionally people wonder how it is that Nancy Pelosi consistently out-invests the best-run investment portfolios in the world. Well, obviously, she's being tipped insider information. This might be one of the ways insider information is leaked to her -- first to her "superuser" cronies, then to her and her stockbrokers.

This country is just lie upon lie. The Regime are monsters and they need to be in prison.

This data determines inflation statistics, which are obviously very important in finance. In addition, knowing what the inflation stats will be tips off these institutions about whether the Fed will be cutting or raising interest rates. They know in advance of the ordinary investor whether the Fed is putting the economy into growth or contraction mode.

I suspect that this is just the tip of the iceberg, given how closely the minions of the administrative state work with bigwigs in the finance industry, but this is bad enough.

An administrative employee at the Bureau of Labor Statistics corresponded with a secret list of "Superusers"--hedge funds, traders, and the huge financial firms like Blackrock and Vanguard--giving them information about the BLS' data and analyses that are used to establish inflation statistics.


This is extraordinarily valuable information, especially if your business is highly sensitive to financial data. Think of the inflation numbers that came out yesterday and the massive impact they had on market movements. Tens or hundreds of billions of dollars flow based on these government statistics.

Strom quotes the NYT here:


An economist at the agency set off a firestorm in February when he sent an email to a group of data users explaining how a methodological tweak could have contributed to an unexpected jump in housing costs in the Consumer Price Index the previous month. The email, addressed to "Super Users," circulated rapidly around Wall Street, where every detail of inflation data can affect the bond market.


As far as we know the actual numbers weren't leaked, although this is a developing story, and the BLS is being very closed-lip about the extent of the collaboration with the big Wall Street firms. They had successfully downplayed what was happening until a FOIA request was fulfilled, reigniting the outrage.

At the time, the Bureau of Labor Statistics said the email had been an isolated "mistake" and denied that it maintained a list of users who received special access to information.

But emails obtained through a Freedom of Information Act request show that the agency -- or at least the economist who sent the original email, a longtime but relatively low-ranking employee -- was in regular communication with data users in the finance industry, apparently including analysts at major hedge funds. And they suggest that there was a list of super users, contrary to the agency's denials.

Wait, wait, wait -- you're saying the government acted corruptly to pour billions of dollars into the pockets of the Democrat Party's deepest-pocketed allies, and then lied about it?

You're speaking gibberish. None of this makes any sense.


Click on one of the posts to see the rest of the thread.

So she's a DEI hire who -- like many DEI hires -- doesn't really have any skill her her supposed field, but instead is just a specialist in racial grievance.

And she copied a lot of her racial grievance "scholarship" from others.

Terrific.

Peter Boghossian
@peterboghossian

If you do not believe that institutional corruption is endemic and intractable, then explain why those at the highest echelons of society retain their positions after it has been discovered that they obtained their credentials through fraud.


digg this
posted by Disinformation Expert Ace at 02:15 PM

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