The credibility of the United States of America continues to plummet.
When, oh when, will we no longer be run by corrupt and incompetent monkeys, justifying decisions on suspect or sexed-up data?
The big question now is will Bernanke and the US Fed fix their bad-data mistake (and raise rates at the end of the month), or will they be like Bush, who insists on compounding his bad-intelligence f*ck-ups?
UK Telegraph: Fed based rate cut on false jobs data
The 12 members of the Federal Reserve may be rethinking their 0.5pc interest rate cut last month after key jobs data that their decision was partly based on was revised.
August's non-farm payroll numbers were changed by the US Labor Department to show 89,000 jobs were created, rather than 4,000 lost as it first predicted.
The predicted fall, the first decline in four years, forced global markets sharply lower and was seen as one of the major reasons why the Fed, led by chairman Ben Bernanke, cut rates, in order to stimulate economic growth.