Bill Tatro

  1. You can believe in us, we are the Bureau of Labor Statistics (BLS).  
  2. You can believe in us, we are the senior Senator from Arizona (McCain), the Secretary of State (Kerry), and the President of the United States.
  3. You can believe in us, we are Bud Abbott and Lou Costello.

When it comes to credibility, if you were required to choose just one from the list above, who would it be?  Allow me to assist you in the decision making process.  

This past Friday, the BLS announced a reduction in the unemployment rate, from 7.4% to 7.3%.  In order to arrive at that lower percentage, as we all know (or at least should know); they had to “discount” over half a million people.  This means that individuals who are currently out of work — and supposedly not actively seeking employment — are no longer counted as being unemployed.  This BLS adjustment increased the total number of people outside of the labor force to a record 90.5 million Americans, as the labor force participation rate fell to a 35-year low of 63.2%.  Not surprisingly, we are then asked to believe that this type of misleading statistical accounting — specifically, a lower unemployment rate — makes perfect sense.  

Bill Tatro

Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has recently authored a highly successful book entitled 44th: A Presidential Conspiracy, publishes his dynamic monthly financial newsletter MacroProfit, and faithfully continues his third decade on the radio with It’s All About Money, which can be heard weekdays on Money Radio in Phoenix and in podcast form on his website (and on smartphone apps) published at weekdays at 5pm Eastern. Bill can be reached via email at and on Twitter @tatroshow.