Courtesy of Mish.
About a week ago or so I taped a session with Max Keiser regarding a number of topics including Jobs, the Birth-Death Model of businesses, Inflation, Gold, Student Loans, Demographics, Housing, and family formation.
The video was published a couple of days ago.
Since the video was taped I talked one more time with the BLS and can provide a better description of what is happening with the birth-death model.
I will comment on the birth-death model and my conversation with the BLS in the future, but no, I still cannot explain in detail the “black box” that converts unadjusted numbers to seasonally adjusted numbers
Mike “Mish” Shedlock
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