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JACK WELCH REFUSES TO BACK DOWN ON UNEMPLOYMENT NUMBERS IN FIERY EXCHANGE WITH CHRIS MATTHEWS
The Blaze ^ | October 6, 2012 | Jason Howerton

Posted on 10/06/2012 7:21:45 AM PDT by Snuph

In a heated debate with MSNBC’s Chris Matthews, former General Electric CEO Jack Welch doubled-down on his claim that the Bureau of Labor Statistics survey released Friday, which showed a spike in employment and a drop in the unemployment metric from 8.1 percent to 7.8 percent, is bogus.

Welch explained his rationale to the MSNBC host:

“We had 600,000 government jobs added in the last two months. We had 873,00 jobs by a household survey — which is a total estimate — from 50,000 phone calls. Of those, 600,000 were temporary workers. Chris, these numbers are all a series of assumptions. Tons of assumptions. And it just seems somewhat coincidental that the month before the election, the numbers go one-tenth of a point below where the president started. Although, I don’t see anything in the economy that says these surges are true.”

(Excerpt) Read more at theblaze.com ...


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KEYWORDS: bls; unemployment; welch
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Chrissy wants more tingles
1 posted on 10/06/2012 7:21:50 AM PDT by Snuph
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To: Snuph

Chrissy is looking for anything - ANYTHING - any straw to grasp that will vindicate the crush he’s had on Hussein these past four or five years.


2 posted on 10/06/2012 7:28:06 AM PDT by Twinkie (Live and let live.)
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To: Snuph

Did Matthews call Welch a racist? Cuz, really, what else could it be that makes him not believe Obamugabe’s yes-men?


3 posted on 10/06/2012 7:30:40 AM PDT by workerbee (The President of the United States is DOMESTIC ENEMY #1)
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To: Snuph

Didn’t Rush say we needed 500,000 per month just to break even?


4 posted on 10/06/2012 7:30:44 AM PDT by SkyDancer ("I Believe In The Law Until It Interferes With Justice")
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To: Snuph

I saw Welsh interviewed by Larry Kudlow. Kudlow was defending Obama and attacking Welsh for daring to doubt the honesty of this report. Welsh held his ground and exposed Kudlow as the NBC sycophant that he is.


5 posted on 10/06/2012 7:33:33 AM PDT by jubail
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To: Snuph

These numbers are fake and everybody knows it. Only the liberal media is going to push and push and push this fake narrative to try and save The One.

Romney’s gotta call them out.


6 posted on 10/06/2012 7:36:01 AM PDT by kjo (+)
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To: SkyDancer
Didn’t Rush say we needed 500,000 per month just to break even?

I think he said (and I read elsewhere) there must be about 150,000 NEW jobs each month, without losing a single current job, just to keep up with graduates and the population increase.

7 posted on 10/06/2012 7:36:07 AM PDT by USCG SimTech (Honored to serve since '71)
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To: SkyDancer
“Didn’t Rush say we needed 500,000 per month just to break even?”
_________________________________________

If memory serves, I think you're correct.

BTW, Rush was a Debbie Downer yesterday. I understand his frustration, but at one point I just had to turn him off. I think Obama and his scumbags lying all of the time just gets old. It's encouraging to me how many stories are coming out countering this huge pile of B.S.! Rush didn't even mention this push back on these bogus numbers. Very disappointing show yesterday IMHO.

8 posted on 10/06/2012 7:38:21 AM PDT by Artcore
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To: Snuph

Obama cooked the books!!! The good news is, the American people, a good majority, see through this false farce of information on the economy. Any American that votes for this dirt bag, anti-American, lowl life excuse for a human being, Barack Hussein “Muslim Brotherhood Adoree” Obama is either insane, high on drugs , or...drinking too much Kool-Aid!!!


9 posted on 10/06/2012 7:39:33 AM PDT by JLAGRAYFOX (My only objective is defeat and destroy Obama & his Democrat Party, politically!!!)
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To: SkyDancer
You need at least 150,000 just to stay even. The disconnect here is that the employment rate numbers come from the household survey. The jobs created numbers comes from the business survey. The two are separate, but we would expect to see a matching trend. What we are seeing here is like getting a weather report that says it is sunny and 65 with a 40% chance of heavy snow.

One of the scary issues with the business survey (jobs created numbers) is the glide path we are on for the last quarter. Using the revised numbers for July and August the three month trend is 186,000, 144,000 and 114,000. Doesn't look like a recovery to me. It looks like we are sliding into a recession.

10 posted on 10/06/2012 7:40:33 AM PDT by USNBandit (sarcasm engaged at all times)
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To: kjo
Romney’s gotta call them out.

From what I've seen, he will.

Goodness, I'm actually beginning to support this man.

11 posted on 10/06/2012 7:41:44 AM PDT by TwelveOfTwenty (Ho, ho, hey, hey, I'm BUYcotting Chick-Fil-A)
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To: Snuph

So, a successful businessman who has actually done something substantive in life is being questioned by another media idiot who has no expertise in anything except knowing which camera to look into. What’s happened, frankly, is that the media went from being normal people with a job to being celebrities with the ability to influence public policy. They act the way they do because they want to hold on to their relevance. It’s all about them. For those on the left it’s almost always all about them.

Calling them arrogant doesn’t even begin to describe who they are. It’s disgusting. What needs to be said is that the media don’t care about children, they don’t care about the elderly, they don’t care about anyone. They support those they support because this is what keeps them relevant. They have no problem destroying America, as long as they remain relevant. The selfishness of the media is beyond description.


12 posted on 10/06/2012 7:42:29 AM PDT by pieceofthepuzzle
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To: Snuph

Obama thinking all he has to SAY is that unemployment is under 8% is wrong: It must BE under 8%. People don’t vote for him if they hear it is under 8%, it must be under 8% as that means they are employed. They will not vote for him if they are unemployed.

Silly liberals, they always think words are actions.


13 posted on 10/06/2012 7:43:23 AM PDT by CodeToad (Padme: "So this is how liberty dies... with thunderous applause.")
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To: jubail

Ludlow is a paid off troll for defending this scam .
I suspect he was threatened to lose his cushy paycheck if he did tow the Comcast propaganda line !

Just shows you how bought off most of these experts are on these shows on particular these Business networks .

I think under Romney the FBI should raid NBC -msnbc-cnbc / Comcast off to find Recko collision with that Soros operations and the markets .


14 posted on 10/06/2012 7:43:55 AM PDT by ncalburt (Axelrod Psych OPS has gone to 24/7 non stop - "The election is over " status until Nov)
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To: ncalburt

Even if the number is true (and I don’t believe it is), it does not change a single thing about what Obama has done and who he is.


15 posted on 10/06/2012 7:46:36 AM PDT by CityCenter (It's too late, Obama yeah, it's too late.)
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To: Snuph
While she's been a bit annoying over the past year or so, I saw Ann Coulter on Washington Journal yesterday morning, and she made a good point when the host asked her if these new employment numbers would help Obama. I'm paraphrasing, but she responded by saying like: “No, these numbers won't help Obama...the American people know what their reality is...they know they and some of their friends are unemployed...” Or something close to this...but still a good point. I'm very surprised about the push-back on these numbers.

BTW, it always infuriates me why the GOP and Romney NEVER mention that this 8% unemployment doesn't include those who've stopped looking for work, and stopped collecting unemployment because they've hit the 99 week mark! The pie is shrinking, and they keep accepting these bogus numbers. Isn't real unemployment around 11 or 12%?

16 posted on 10/06/2012 7:48:34 AM PDT by Artcore
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To: Snuph

Welch is right these unemployment numbers were ginned up to make Obama look good. There is no way with the anemic GDP growth we have been experiencing this drop could be real. The last time we saw such a sudden drop was in the 1980s when under Reagan we were seeing GDP growth of over 5% per quarter.


17 posted on 10/06/2012 7:49:39 AM PDT by The Great RJ
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To: ncalburt

I don’t think Rick Santelli has bought into the scam. Heard him yesterday on Hannity I think and he said yesterday I predicted they would come out with a contrived number below 8% and today they did. Not supported by the facts as he knows them.

In my personal family, I can take a poll: five eligible for work, three working, one of whom is part time, so our unemployment rate is 40% and our un and under employment rate is 60%. How does that square with His Excellency’s numbers? Not so good. BTW, those are 5 Romney votes here in Florida none of whom were sampled.


18 posted on 10/06/2012 7:50:21 AM PDT by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: SkyDancer

I’d settle for half that on a consistent basis over a year and then maybe the president would have a little something to talk about.

I don’t have the numbers in front of me, have we ever had a month with 250,000 on Obama’s watch?


19 posted on 10/06/2012 7:51:01 AM PDT by wita
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To: pieceofthepuzzle

The other night as I was watching the debate I expected Romney to say “I can’t believe I am debating the biggest spender in history on fiscal responsibility!”


20 posted on 10/06/2012 7:51:13 AM PDT by luv2ski
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To: Artcore
According to shadowstats.com unemployment is around 23% using the pre 1984 methodology
21 posted on 10/06/2012 7:52:04 AM PDT by Snuph ("give me Liberty...")
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To: Snuph
Truly enjoyable video, IMO. There is a trend I am seeing among conservatives: They are refusing to apologise, back down, and take back so-called 'controversial' comments. Sununu was on MSNBC recently and called Obama lazy and was asked several times to take it back, but instead doubled down by quoting Obama on how he didn't want to do debate prep, that it was a drag.

The comments are only controversial because a lib talking head says so.

22 posted on 10/06/2012 7:53:16 AM PDT by sportutegrl
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To: Snuph

These numbers are inconsequential. (BTW, anybody else remember Reagan’s charge on the unemployment numbers just before the ‘80 election? “These numbers have been Jimmied.”) The median household decline of $4000 + is the one that counts and the one people have felt; it’s baked into the model that predicts Obama’s loss. Romney already leaped over the debate bar as well, by looking like he could handle himself as President, which of course, McCain failed. Now with a foreign donor scandal that the Democrats will not be able to defend themselves from thanks to Axelrod’s “assertions don’t need evidence” argument about alleged foreign contributions to the Chamber of Commerce in 2010, all the Republicans will be doing for the last month is picking off strays.


23 posted on 10/06/2012 7:54:38 AM PDT by gusopol3
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To: Snuph
Jack, even in Connecticut where you GE is headquartered, the OVERWHELMING majority of people say the "books are cooked." You are correct, obviously. US Government statistics used to be honest and reliable. Now they are a joke as bad as old Soviet Union production numbers against their infamous "5-year plans." Nothing the Soviet's said was honest or could be believed. Now we are the same.

WTIC CBS Connecticut Poll

See WTIC CBS Connecticut Poll - 7.8% Unemployment: Is This A True Reading Of The Jobs Picture?

24 posted on 10/06/2012 7:56:20 AM PDT by ProtectOurFreedom
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To: pieceofthepuzzle

They all seem to think they will be the ones left standing when Obie achieves his ultimate goal. Much like businessmen, ministers, and media did with Hitler. We all know how that worked for those “folks”.


25 posted on 10/06/2012 7:57:00 AM PDT by gov_bean_ counter (ObamaCare is an assault on the unborn, infirmed and elderly. GOP, repeat this as necessary...)
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To: Snuph

All Welch needed to say was, “If this type of jobs surge happens for a Mitt Romney administration - in ANY month - would you defend it as vigorously as are defending the Obama BLS?”


26 posted on 10/06/2012 7:58:13 AM PDT by Cletus.D.Yokel (Catastrophic Anthropogenic Climate Alterations - The acronym explains the science.)
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To: The Great RJ

In this argument I don’t think I’s use the GDP numbers as that is backward looking number...the numbers which are pertainent in my view are the number actually working, the hours worked reports and the payroll dollar amounts. NONE OF THESE support any reduction in the unemployment rate, especially of that magnatude.

Unfortunately, it is what it is and this is the number the press will ballyhoo for the next 30 days.

There is the old joke about the CEO hiring a CFO. He had three candidates. He asked each the same question, how much is two plus two. The first said 4. CEO said get out. Asked the second and he said 22?. Get out. Asked the third and he said, well, what do you want the number to be. HIRED.


27 posted on 10/06/2012 7:58:35 AM PDT by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: luv2ski

Standing in line yesterday in Southern California (Trader Joes) the checkout girl who was quite young asked the woman next to me an d myself if we were happy about the new UE numbers. Woman next to me says: “ the numbers are a lie and we all know it”. Her daughter knodded in agreement (20+ years). I agreed with them and the cashier just smiled and kept quite after that. She seemed like a nice kid however misguided.


28 posted on 10/06/2012 8:02:33 AM PDT by Chuzzlewit
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To: Snuph

Well Jack, karma payback can be a bitch.

Didn’t you help create and fund MSNBC while you were the CEO of GE with the so purpose of helping your bud, Billy Clintoon.

It seems that you were the reason that twitchy Christy was hired, and you protected him over the years when he defended Clintoon and Obozo, and when he lied to attack GW.


29 posted on 10/06/2012 8:05:49 AM PDT by Grampa Dave (We are the 53%, who pay taxes and keep this country going inspite of the 47% rat moochers!)
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To: Artcore; Snuph
BTW, it always infuriates me why the GOP and Romney NEVER mention that this 8% unemployment doesn't include those who've stopped looking for work, and stopped collecting unemployment because they've hit the 99 week mark! The pie is shrinking, and they keep accepting these bogus numbers. Isn't real unemployment around 11 or 12%?

Romney must have read your post! :)

Romney: “This is not what a real recovery looks like. We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office. If not for all the people who have simply dropped out of the labor force, the real unemployment rate would be closer to 11%."

[**UPDATE: ROMNEY RESPONDS**] – Unemployment rate drops to 7.8%, job growth still very weak

30 posted on 10/06/2012 8:05:58 AM PDT by smoothsailing
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To: smoothsailing
“Isn't real unemployment around 11 or 12%?”

My prediction for the Paul Ryan vs Bozo debate coming up; Ryan will shove this fact (in a very firm but polite way!!), down Bozo's throat.

31 posted on 10/06/2012 8:10:30 AM PDT by HereInTheHeartland (Encourage all of your Democrat friends to get out and vote on November 7th, the stakes are high.)
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To: smoothsailing
The biggest problem is that the MSM simply minimizes the retorts that Romney has been giving.

I heard what he said on a radio report, just the sound bite and it was good. If the situation were reversed, the dem response would be played as the lead in every show and front page for days. For an "R" you sometimes don't even get the sound bite played.

Sad but true.

32 posted on 10/06/2012 8:11:44 AM PDT by Lakeshark (I don't care for Mitt; the alternative is unthinkable)
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To: Snuph

If Obama loses the next debate we might have 5% unemployment by the election...


33 posted on 10/06/2012 8:16:16 AM PDT by Raebie (WS)
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To: Snuph

Chrissy is such n Obama butt monkey...


34 posted on 10/06/2012 8:16:34 AM PDT by baddog 219
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To: Snuph

133,561,000 workers Jan 2009
133,500,000(P) workers Sept 2012
Total Non Farm Payroll Seasonal Adjusted
Bureau of Labor Statistics

http://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&graph_name=CE_cesbref1


35 posted on 10/06/2012 8:17:57 AM PDT by stocksthatgoup (ZERO DARK THIRTY (coming soon to an embassy near you))
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To: Artcore

I couldn’t listen Friday, either. Rush has to wallow in defeatism at least once per week. I sometimes wonder if he has some form of bi-polar disorder. He gets too low and too high.


36 posted on 10/06/2012 8:21:52 AM PDT by Oklahoma
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To: Artcore

BTW, it always infuriates me why the GOP and Romney NEVER mention that this 8% unemployment doesn’t include those who’ve stopped looking for work, and stopped collecting unemployment because they’ve hit the 99 week mark! The pie is shrinking, and they keep accepting these bogus numbers. Isn’t real unemployment around 11 or 12%?

***********************************************************
I have never understood why the U6 number which includes all the unemployed is NOT the number that is reported anyway.

It makes no sense to report the percentage of unemployed that is reduced when people cease to get unemployment benefits without getting a job, as the true picture.

The real (U6) unemployment number remained flat. Someone posted yesterday that was 14%, but Romney said in a speech yesterday that it was around 11%. So I would go with that.

Furthermore, the new jobs created from the employer survey was only 114,000 not enough to budge the unemployment figures down at all. The household survey reported 600,000 new jobs, but is not as accurate as the employer survey. Some one posted yesterday that the margin of error was 400,000??

What I would do is to look at how many people were employed when Obama took office and what is that number now? What was the “real”(U6)unemployment % number then and now. What was the number of new jobs created from the employer survey, how many were lost, and how many were private sector vs public sector jobs.


37 posted on 10/06/2012 8:23:15 AM PDT by greeneyes (Moderation in defense of your country is NO virtue. Let Freedom Ring.)
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To: smoothsailing

Wow...thank you for posting this! I hadn’t read this yet! As I mentioned, this push back on this illusion that we are at just under 8% unemployment is very encouraging. This UPDATE on Romney’s Response to this bogus crap is also very encouraging! I hope he kicks the Kenyans A$$ with Ads saying as much, and a strong confrontation at the next debate. There’s no way Obama can fix his stupidity and lazyness in a 2 weeks! ;-)

Thanks again for the link!


38 posted on 10/06/2012 8:25:40 AM PDT by Artcore
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To: Snuph

Matthews loves throwing Chrissy-fits.


39 posted on 10/06/2012 8:25:57 AM PDT by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: Snuph

Leno Mocks Straight-Jacketed Matthews Being Taken Away Mid-Meltdown By Men in White Coats

Read more: http://newsbusters.org/blogs/noel-sheppard/2012/10/05/leno-mocks-straight-jacketed-matthews-being-carried-mid-meltdown-men-#ixzz28Wy1RNkn


40 posted on 10/06/2012 8:30:51 AM PDT by Hotlanta Mike (Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
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To: greeneyes

“I have never understood why the U6 number which includes all the unemployed is NOT the number that is reported anyway.”
__________________________________________________

Exactly!

Glad to hear Romney’s pushing back on this. I think they should do an ad blitz discussing this U6 number in a very simple, easy to understand way. Romney should craft his message to those who “are NOT counted.” This would hit a home run and show this POS Marxist for who he is!


41 posted on 10/06/2012 8:30:51 AM PDT by Artcore
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To: kjo

First he should get elected president, then call him out because arguing over .3 drop even if dodgy isn’t going to fire up many voters.

Don’t fall for tricks that take away from a Positive News cycle for Romney. A Romney positive news cycle >> Obama negative news cycle.


42 posted on 10/06/2012 8:31:24 AM PDT by Usagi_yo
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To: Snuph
ALSO - Two very significant points to consider:

1 - The 873,00 jobs added is a BLS estimate. Not based on any hard employment data.

2 - To arrive at the 7.8% rate the administration went back and bumped the July employment up by 40,000 and bumped the August employment up by 46,000.

Jack Welch Refuses to Back Down on Unemployment Numbers in Fiery Exchange With Chris Matthews

“We had 600,000 government jobs added in the last two months. We had 873,00 jobs by a household survey — which is a total estimate — from 50,000 phone calls. Of those, 600,000 were temporary workers. Chris, these numbers are all a series of assumptions. Tons of assumptions. And it just seems somewhat coincidental that the month before the election, the numbers go one-tenth of a point below where the president started. Although, I don’t see anything in the economy that says these surges are true.”

U.S. unemployment rate falls to 7.8 percent

"In addition, job gains were revised upward by 40,000 for July (to 181,000) and by 46,000 for August (to 142,000), casting a slightly rosier light on what had been perceived as a summer slump."


43 posted on 10/06/2012 8:34:31 AM PDT by Iron Munro (Obamaspeak: An army of pompous phrases marching across the landscape in search of an idea.)
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To: Cletus.D.Yokel

Another thing Welch needed to say/ask was:

“Chris, aren’t YOU and the folks in the media just a little bit interested in looking into the details of the data to see WHETHER OR NOT these numbers, WHICH SEEM TO DEFY LOGIC, are actually true? Aren’t you and other members of the media charged with the responsibility to ensure that our government is, in fact, being honest with the people? Or are you simply willing to accept everything they tell you, DESPITE EVERY INDICATION that what they are telling you CAN’T POSSIBLY BE TRUE, in which case, might you not expect to suffer from a lack of confidence from the American voters (as witness, your falling ratings)?


44 posted on 10/06/2012 8:34:40 AM PDT by MarDav
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To: Oklahoma
“I couldn’t listen Friday, either. Rush has to wallow in defeatism at least once per week. I sometimes wonder if he has some form of bi-polar disorder. He gets too low and too high.”
______________________________________________________

I didn't mean to sound like I was trashing him, but i was surprised that he didn't show any encouragement from the push-back that was happening almost immediately to this predicted 7.8% number.

Hey, I understand he's a human being...probably just having a crappy day overall.

45 posted on 10/06/2012 8:36:35 AM PDT by Artcore
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To: Snuph
Here are some interesting stats on retail gasoline sales from the Department of Energy:


46 posted on 10/06/2012 8:40:20 AM PDT by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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To: Oklahoma

:: I sometimes wonder if he has some form of bi-polar disorder ::

I’ve been wondering lately if he’s back on the Hillbilly Heroin. He’s been sniffling quite a bit over the last 8 months - a long time to shake a head cold...


47 posted on 10/06/2012 8:40:43 AM PDT by Cletus.D.Yokel (Catastrophic Anthropogenic Climate Alterations - The acronym explains the science.)
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To: Iron Munro

By the way...did you happen to check where your “Jack Welch” link goes to? ;-)


48 posted on 10/06/2012 8:40:59 AM PDT by Artcore
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To: Zhang Fei

Excellent! Thank you for posting this chart. It speaks volumes.... Make a new post for it on the forum please.


49 posted on 10/06/2012 8:43:25 AM PDT by Snuph ("give me Liberty...")
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To: gov_bean_ counter
“Much like businessmen, ministers, and media did with Hitler.”

At the risk of sounding like I am overstating, I truly believe that the same kind of self-convinced, narcissistic, ideology-driven, AND ‘payback’/vengeance-driven motivation that ran through Hitler runs through people like Obama, Chavez, Wright, Farrakhan, Ayers, etc. It's the same, and just as dangerous. Also, each and every one of them was/is totally convinced that they were/are doing the right thing for the world. I would prefer to have a crook in power who just wanted to make some money than to have the kinds of dangerous ideologues that we have on the left at this point in history.

50 posted on 10/06/2012 8:45:07 AM PDT by pieceofthepuzzle
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