The Anchoress Is on Fire Tonight

Anchoress is on fire with economic and, ahem, other revelations (R-Rated material at this link, but worth every minute; one supposes that Mr. Anchoress is in store for an enjoyable Friday evening and weekend).

I’ll stick to what she posted on the economic front, if y’all don’t mind:

• Showing my non-predictive powers (I thought that a $260 billion deficit would be a very difficult achievement, and guess that it would be $270 billlion or so), the deficit for the fiscal year ended September 30 apparently came in at $250 billion. That supply-side econ that supposedly never works has done its magic yet again. I would think that the September tax-receipt tidal wave bodes well for an upside “surprise” in 2nd quarter GDP growth.

• Anchoress also picked up a report of a big “oops” in the employment numbers, and a golden opportunity to say “I told you so”:
  

  Oct. 6 (Bloomberg) — The U.S. Labor Department found employers hired almost a million more workers in the year to March than previously estimated, bringing job gains more in line with what households had been saying all along.

  About 810,000 more jobs will be added to the payroll count when the figures are officially revised next February, the department estimated today. The proposed revision, the biggest since Labor started adjusting the numbers in 1991, would mean the economy created 2.8 million jobs from April 2005 through March instead of the 2 million now on the books.

  The revision will go a long way toward solving the mystery of why households, in a separate Labor survey, were saying job gains during that period were much larger. Confirmation that employment was stronger may help explain why consumers haven’t buckled when faced with record fuel prices and a decline in the housing market.

  I TOLD YOU that the Household Survey numbers for total employment, which, including today’s report, shows 9 million jobs added since January 2002, were cause to believe that the Establishment Survey (the one that had to be corrected), which even after the correction only shows about 5.7 million jobs added in that same time period, had something wrong with it. Nyah, Nyah.

There were a lot of other pretty decent economic signals this week: unemployment claims were down, mortgage rates stayed down, mortgage apps picked up. The only “downers” really weren’t: The ISM Manufacturing and non-Manufacturing Surveys weren’t as strong, but they were both still in expansion mode.

That “economy stinks” meme is getting ever more difficult for the 527 Media to sustain.