CNBC Bias: Host questions credibility of Jobs Growth Number

CNBC TV Squak Box ^ | April 2, 2004 | Mark Haines

[ReleaseTheHounds]

Mark Haines, CNBC host of "Squak Box", just raised the question (I must paraphrase): "Isn't this convenient that this great jobs number comes in right at the beginning of the political campaign... Not that I'm biased, but I find it curious... I wonder if the bureaucrats who compile these statistics are feeling pressured to pump up the numbers."

[ReleaseTheHounds]

This was one of the first questions raised after all the panelists were digesting the 308,000 increase in non-farm jobs report.

You can't make this stuff up.

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[Lunatic Fringe]

Well of course... I was expecting this criticism within a week after good job numbers came out. I underestimated the patience of liberals.

[USNA74]

Yeah. And what was this idiot commentator saying last month when jobs growth was abysmal -- I suppose that jobs number guy got fired so a new guy could make up better numbers. Right? Where do we find these bozo commentators?

[Piquaboy]

These people make me sick with their apparent bias and that is the reason I don't watch them and neither should any other conservative. They would go down the tubes faster than Alshole Franken is going to.

[Teacher317]

Yahoo's Financial page as an explanation for the "suspect numbers":
"workers returned after a grocery store strike and construction hiring bounced back on better weather, a government report on Friday showed"

Maybe CNBC needs to do a little research before sharing their unfounded editorial suppositions.

[b4its2late]

Time to trot out osama to really blow his mind....

[RexBeach]

Not to worry. My family is bigger than CNBC's audience.

[KJacob]

Didn't the Clinton Administration fudge numbers to make the economy seem better? I seem to recall hearing this somewhere.

[KJacob]

Didn't the Clinton Administration fudge numbers to make the economy seem better? I seem to recall hearing this somewhere.

[Always Right]

Time to trot out osama to really blow his mind....

No, that is set for late August, early September. Depending on the situation, we may wait until late September, but for now we are planning to trot bin Laden out in late August.

[Adder]

"I wonder if the bureaucrats who compile these statistics are feeling pressured to pump up the numbers.""

I wonder if this ape is not being pressured to downplay the numbers and to "ask questions"....not that I'm biased or anything.

Wadda joik.

[rewrite]

What's CNBC? LOL

[CROSSHIGHWAYMAN]

Not to worry. My family is bigger than CNBC's audience.

I love CNBC because I get to see Larry Kudlow.

[aculeus]

Right. Job done by same civil servants who gave big contracts to Halliburton.

(sarcasm off)

[unixfox]

I seem to recall hearing this somewhere.

You NEVER heard anything in the lamestream media that's for sure!!

[JohnHuang2]

You were RIGHT! It IS a VAST, RIGHT-WING CONSPIRACY of business owners taking orders from Evil Bush! ;-)

[babylucas]

During a commercial on Fox News, I switched to CNN to see the long faces due to the great jobs number. All they're talking about is Iraq being "out of control" and gas prices going through the roof. Diane Feinstein is on now, telling Californians to car pool. LOL.

[JohnHuang2]

Kudlow is the ONLY reason I watch.

[kellynla]

Maybe Haynes would feel better if they hand him his pink slip today! LOL

Where do they find these morons???

What?? The employers should have not reported hiring so Haynes wouldn't have any suspicions...Ketchup and Dashole are very saddened!

EXCELLENT NEWS for America!!!

Semper Fi,
Kelly

[Brilliant]

The low jobs numbers previously reported by the labor dept. were faked by the labor dept. statisticians who are Democrats. They lied as long as they could. They figured they could not keep lying and get away with it.

[freeperfromnj]

These people are just unbelievably stupid. They hate President Bush so much that they are actually willing to talk down the economy to their own detriment, as well as the rest of us. I guess they don't care if the corporations they work for, their own portfolios and their own families' futures go down as well -- as long as they stick it to President Bush.

[commish]

Not that I'm biased

Bullshit!

[mdmathis6]

If he questions the credibility of the jobs numbers when they are rising...then he needs to question the credibility of the numbers when they have fallen...since the numbers come from the same sources!

[Sweet Land]

Mark Haines, CNBC host of "Squak Box", just raised the question (I must paraphrase): "Isn't this convenient that this great jobs number comes in right at the beginning of the political campaign... Not that I'm biased, but I find it curious... I wonder if the bureaucrats who compile these statistics are feeling pressured to pump up the numbers."

Then he wiped his chin and zipped John Kerry's fly.

[commish]

They hate President Bush so much that they are actually willing to talk down the economy to their own detriment

Why not, they are out dancing on the graves of the Fallujah 4 as we speak. I have never seen so many blithering idiots have such glee over the torture and desecration of thier fellow countrymen.

Democrats truly make me sick.

[js1138]

The end of the grocery strike accounts for about 72,000 of these workers. The next two quarters might be lower, but we'll see. I wouldn't be surprised to see the Dow climb today.

[Queen of Excelsior]

Your paraphrase is a little off. In all fairness to Mark, he did say that this was NOT his personal opinion.

[Moonman62]

Well, the job numbers are up, but unemployment is also up. Did the labor department hire ex-Enron employees?

However, all the markets are responding so far to indicate they believe the positive numbers are real. It makes sense that the job market is doing better. The stock market's been doing well for over a year, and the venture capital market is starting to pick up. The problem is GWB sat on his hands for over two years, saying there was nothing wrong with the economy, and coming out forcefully against capital gains tax cuts, etc. Otherwise, the economy and jobs wouldn't even be an issue.

[ReleaseTheHounds]

Didn't the Clinton Administration fudge numbers to make the economy seem better? I seem to recall hearing this somewhere.

The Clinton "budget surplus" estimates looking out from 2001-on had huge assumptions for capital gains tax revenues that never should have been forecast (and were evaporating since the stock market bubble burst 10 months before the Clinton Administration ended).

[jwalsh07]

Bravo Sierra.

Jobs and UE are both up because the economy is humming and people know it. UE is up because more people are entering the job market. They reenter the job market when they sense jobs are available.

As for Bush not saying or doing anything for two years he did what he should have, he cut marginal tax rates across the board.

Ask any major corporation what they would prefer corporate tax cuts or marginal rate cuts and they'll answer marginal rate cuts every time because it puts money in the pockets of people who buy their products.

[Petronski]

Maybe he's auditioning for Err America Radio.

[CROSSHIGHWAYMAN]

Kudlow is the ONLY reason I watch.

Lately, I find myself watching Dennis Miller more than Hannity and Colmes.

[JohnHuang2]

Dennis Miller is a national treasure.

[freeperfromnj]

DJIA UP 121.26
Nasdaq UP 39.55

At the end of the day, there's no way they can dispute these numbers. And the market's only been open 10 minutes.

[Sweet Land]

he did say that this was NOT his personal opinion.

He has no evidence for it and doesn't believe it but he'll say it anyway? Sounds like Clintonian weaseling to me.

[elfman2]

"You can't make this stuff up."

They also can’t keep this stuff up. They can’t credibly claim conspiracy for 8 months.

[cajungirl]

I gotta admit, I wondered the very same thing.

[goldstategop]

Hehehe... The libs are panicking at the first sign it might be "Morning In America!"

[Moonman62]

As for Bush not saying or doing anything for two years he did what he should have, he cut marginal tax rates across the board.

Ask any major corporation what they would prefer corporate tax cuts or marginal rate cuts and they'll answer marginal rate cuts every time because it puts money in the pockets of people who buy their products.

The first tax cut was a scam designed to keep the Reagan wing of the Republican Party happy, while GWB grew the government at a torrid pace. It didn't work. There was a small boost, followed by a continuation of a historic decline in the stock market and overall business spending. Tax cuts on the demand side (as you say consumers buying more products) can only provide a temporary boost to the economy. Only tax cuts that spur investment will lead to sustainable economic growth (see Reagan's 17 year economic expansion).

But you are probably right about most business people wanting demand side tax cuts. Most of them only know their own businesses, not economics. Plus many of them don't like investment in new companies that become their competitors.

[woodyinscc]

Ask any major corporation what they would prefer corporate tax cuts or marginal rate cuts and they'll answer marginal rate cuts every time because it puts money in the pockets of people who buy their products.

The really good news is that these tax cuts are still kicking in. As jobs increase, revenues to the government will rise, thus lowering the deficit forcast. At this point in time, the dim's attack on the economy has suffered a severe blow. Watch for the dims to go over the top even more.(if this is even possible)

[Dansong]

Being employed in finacial services I've been amazed that the liberal slant has gone largely unnoticed - this post was a good catch and a fine example of all the caveats we now get with good news,i.e., "employment grew last month but the jobs created were not desirable ones..."

This type of reproting would have been unthinkable in the Clinton years.

[cynicom]

He has no problem believing the government when the job market is down.

[jwalsh07]

The engine for growth in this country is small business. Marginal tax rate cuts for S Corp and small C Corp businesses do spur investment. And those cuts are bearing fruit.

[Moonman62]

Jobs and UE are both up because the economy is humming and people know it. UE is up because more people are entering the job market. They reenter the job market when they sense jobs are available.

The Labor Dept routinely massages the statistics (GWB even asked them to stop keeping track of layoffs by industry, just as Bush (41) did.) That's why I always look to the markets to see what their take on the Enron-like numbers are.

[stuartcr]

You're probably right...it all depends on the administration, and the forum you are participating in.....basically, which side you are on.

[joylyn]

Haines clearly stated that this question did not reflect his personal views. He was bringing it up only to give his guests the opportunity to throw cold water on such suspicions -- which, I would guess, were raised by some who e-mailed the program. Anyone who watches this show knows that Haines introduces European market news with the line, "Let's see what the socialists are doing..." So give the guy a break.

[ReleaseTheHounds]

In all fairness to Mark, he did say that this was NOT his personal opinion.

I'll admit that my paraphrase may have been a bit off, but do you really believe it was NOT his personal opinion? How about Steve Liesman?

[goodnesswins]

Hmmmm....Our CPA is going to be saddened.....he was LAMENTING all the REFUNDS his clients are getting, and the tax cuts and deficits(and to his credit the spending growth) just the other day when I met with him.