Loading ...If you thought that the BLS report was BS … read this tweet
Tenters may not be inclined to read another ZH article on a Friday, and today being Cinco de Mayo may be even more so.
Embedded in https://www.zerohedge.com/markets/deposit-outflows-continue-foreign-banks-bleeding-most
Here's a question:
During a bank run when billions of deposits are getting yanked each day, do you seasonally adjust the bank run?
Because that's what the Fed did and here is the deposit data:
Seasonally adjusted: $12.5BN outflow
Actual: -$120BN, or 10x greater, outflow pic.twitter.com/31wGBuXF4m
— zerohedge (@zerohedge) May 5, 2023
GL
Most government stats are “Seasonally Adjusted”, the SA just means if you believe them, you are SA, Stupid Ass!
LOL!