This is mythically corrupt (in reference to the rigged unemployment rate)Former General Electric CEO, Jack Welch, referred to today's unemployment report as being the epitome of Chicago-style politics in action: "Unbelievable jobs numbers..these Chicago guys will do anything..can’t debate so change numbers." Miraculously, the unemployment rate dropped 30 basis points from last month to 7.8%. Recall that Obama promised in 2008 to get the unemployment rate below 8%. Obviously, we are only discussing theoretical numbers here, as the Government's employment report numbers - as dissected ad nauseum on this site and many others - is quite likely the most fraudulently reported statistic in the history of the planet.
- Friend of Dave in Denver
Obama has taken a lot of campaign heat for failing to deliver on this promise, as the "unemployment rate" has been over 8% since he was elected. Miraculously, two days after Obama was thoroughly trounced in debate, the Government releases a monthly employment report which purports an 7.8% unemployment. Quite honestly, unless we're talking about someone who is completely brain-dead, this attempt at credibility has to challenge the ability to suspend disbelief of even the most passionate Obama supporters.
Recall that yesterday I surmised that we might see a surprise in the actual number of jobs "created" due to the temporary hiring by the Government of workers in connection with the Presidential election. Indeed, as compiled by my friend and colleague, "Hal," who coincidentally happens to live in Chicago, it turns out that 582,000 of the 114,000 jobs "created" are accounted for by part-time jobs. Incidentally, for those paying attention to the math, that means somewhere buried in the calculations behind the numbers, roughly 460,000 full-time jobs were lost. You can go through the numbers to your heart's content using this LINK But don't bother wasting your time because, as I pointed out to Hal earlier, what makes the entire media/analyst circus surrounding this monthly report entirely absurd is the undisputed fact that the numbers are completely fictitious/fraudulent and bear absolutely no fathomable true relationship with the actual number of unemployed vs. employed in this country.
I don't want to spend any more time on this exercise other than to point out the absurdity of all the media analysts and political commentators (especially on CNBC and the Sunday morning political tragicomedy programs) who discuss, debate and dissect the Government economic reports. Here's the picture: you have a bunch of supposedly educated and experienced analysts sitting around a table discussing numbers which are completely fabricated. I can't think of a bigger waste of time...It's too bad the likes of Charles Dickens or William Thackery are not around to at least convert the absurdity into readable entertainment...
On to something real and concrete that can be discussed: Manning vs. Brady on Sunday. I'm not sure an early-season football game can have any more excitement and anticipation than the match-up between the Denver Broncos against the New England Patriots, featuring two of the arguably top-5 QB's of all time. With Denver coming off of a beat-down of the Oakland Raiders that rivals the beat-down of Obama by Romney Wednesday night, I like Denver's chances of winning on the road this week. Have a great weekend: