The recent labor market report shows a massive, negative deviation from expectations that indicates a serious economic downturn that officials are attempting to misrepresent as benign.

“This is a really bad labor report. The odds of this happening well under 1% statistically to have this bad of a miss. I was even saying, hey, like the estimates are for 55,000. the odds of us going negative would be more than two standard deviations. Now to go negative 92,000 is absolutely insane.”