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Santelli Slams CNBC Panelists for Spinning Jobs Report
Media Research Center ^ | February 04, 2011 | Julia A. Seymour

Posted on 02/04/2011 9:29:08 AM PST by george76

CNBC's floor reporter criticizes 'kool-aid drinkers' for trying to find good news in the 'disappointing.'...noted that the increase was "way below consensus."

"[W]e have overwhelming evidence the jobs market is disappointing, and all of you are trying to look for that one half of spaghetti in a 50 lb. spaghetti bowl. This is not great data," Santelli claimed. "We know that the U6 probably gives you a better indication of the true unemployment rate …"

(Excerpt) Read more at mrc.org ...


TOPICS: Business/Economy; Extended News; Government; News/Current Events
KEYWORDS: santelli; unemployment

1 posted on 02/04/2011 9:29:10 AM PST by george76
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To: george76

A shining light in a room full of cockroaches.


2 posted on 02/04/2011 9:35:51 AM PST by N. Theknow (Kennedys: Can't skipper a boat, Can't drive, Can't ski, Can't fly. But they KNOW what's best!)
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To: george76

We know a lot of seasonal employees work during Christmas and get dropped when the holiday season ends. So, how can it make sense that unemployment went down?

I do believe that the resumption of the Bush tax cuts allowed a lot of employers to post jobs that they may have otherwise held off posting but I also think that would only offset the seasonal losses and likely the numbers wouldn’t show up until February’s report because employers often take 2-4 weeks to complete the interview/hiring process.


3 posted on 02/04/2011 9:37:09 AM PST by OrangeHoof (Washington, we Texans want a divorce!)
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To: george76

I don’t know how much longer I’m going to be able to take all the lying and deceit this administration and it’s media minions are shoving down our throats. They have gotten to the point that logic and common sense be damned, they don’t care whether it’s even believable any longer.

When is someone going to do something about this?


4 posted on 02/04/2011 9:38:20 AM PST by jakota (®)
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To: Grampa Dave; rabscuttle385
the U6 number (those unemployed and underemployed) the picture of economic suffering in the country is even worse. The real January 2011 U6 is 17.35% (not the 16.1% reported).

This represents 24.66+ million people underemployed.

5 posted on 02/04/2011 9:38:47 AM PST by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: OrangeHoof

I’ve known of more people to successfully job-hop in the last month than in all of last year, so I’m not sure what to think about the numbers, but I think we are better now than a year ago.


6 posted on 02/04/2011 9:39:15 AM PST by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: DonaldC

Anecdotal.


7 posted on 02/04/2011 9:41:32 AM PST by jakota (®)
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To: DonaldC
were just in the eye of the economic hurricane, and as anyone who's ever been in a hurricane can tell you... the back half is much worse than the front.

Fools will let up their guard now and be washed away when all of Obama’s socialist chickens come home to roost in the near future.

8 posted on 02/04/2011 9:47:51 AM PST by TexasFreeper2009 (Obama = Epic Fail)
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To: george76

9 posted on 02/04/2011 9:48:55 AM PST by AngelesCrestHighway
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To: george76

10 posted on 02/04/2011 9:51:46 AM PST by AngelesCrestHighway
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To: OrangeHoof

People dropped off the unemployment rolls....gave up, no longer looking for work thus not counted...thus unemployment numbers went down. It’s all in how you spin the numbers. The U6 number is the accurate one. Now at over %17...ouch


11 posted on 02/04/2011 9:51:59 AM PST by yadent
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To: george76
I cannot speak for other states; but, the employers in Florida got a real wake up this week.

It seems that when the Federal Government extended unemployment benefits the costs out ran Florida's unemployment funds. So, all employers got hit with a special annual assessment to pay the interest on the unemployment funds. The bill is highly variable depending, of course, on the number of employees and their pay scale. Payments are due to the state by the end of this June.

The indirect out come of this “unfunded” bill is employers are going to be less likely to maintain or add to their employment rolls. This is just the opposite of what is needed according to Berankie (sp?) and others. When this keeps up the 5 to 8 year future will look worse not better.

How goes it in other states?

12 posted on 02/04/2011 9:52:13 AM PST by Nip (TANSTAAFL)
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To: jakota

Your argument relies on the fact that people are buying this. Last real poll I saw back in November tells me that they are not. The Lamestream can say anything they want, but people just don’t believe them anymore. There are to many people like Santelli who are calling them out on their BS.


13 posted on 02/04/2011 9:54:15 AM PST by Lazlo in PA (Now living in a newly minted Red State.)
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To: george76

I believe that by now most thinking people understand that all the numbers released by the Obama administration have been cooked more than three day old pot of refried beans.


14 posted on 02/04/2011 9:55:30 AM PST by circlecity
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To: george76

Unemployment benefits fail to be extended, unemployment rates drop, I am shocked (yawn)... These people are taking any crappy job they can get.


15 posted on 02/04/2011 10:04:35 AM PST by Paradox (Palin, the female Rush. I wish she would stay that way.)
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To: Lazlo in PA

Lazlo, it’s not so much about spin and believability as it is what much of that allows them to do to us. Gulf Oil Contempt, now Natural Gas shortages, Obamacare’s unconstitutionality. I know we just got started in the last election, but this is no time to ease off and rely on an (R) House.

This bunch appears right on the edge of blatant criminality.


16 posted on 02/04/2011 10:04:51 AM PST by jakota (®)
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To: george76

Love ya’ Rick for, among other things, sparking the Tea Party movement.

But you’re going to keep trying to tell the truth, you’d better have the old resume warmed up.


17 posted on 02/04/2011 10:06:01 AM PST by Dick Bachert
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To: Paradox

“Unemployment benefits fail to be extended, unemployment rates drop, I am shocked (yawn)... These people are taking any crappy job they can get.”

I wondered if that was part of it as well.


18 posted on 02/04/2011 10:07:08 AM PST by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: george76
If the government counted casualties in the Titanic sinking they way they count jobs, they'd start counting drownings 24 hours after the sinking and claim only 2 people died.

Great news!


Today is a good day to die.
I didn't say for whom.

19 posted on 02/04/2011 10:07:32 AM PST by The Comedian (It's 3am all over the planet, and nobody's been answering the phone since 2008.)
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To: Nip

Employers should anticipate higher federal and state UI taxes ...

http://www.prweb.com/releases/2011/2/prweb8104133.htm


20 posted on 02/04/2011 10:16:47 AM PST by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76
Isn't Santelli the guy who advocated another Tea Party a couple of years ago from the trading floor, and thereby sparked the rise of the new Tea Party phenomenon? (If it's in the article forgive me, I don't have time to read it!)
21 posted on 02/04/2011 10:21:02 AM PST by ROLF of the HILL COUNTRY
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To: The Comedian
And those 2 people aren't "really" dead, just stunned.

"Hellllooooooo Pooollllyyyyyy! You are not really unemployed, just not working..."


22 posted on 02/04/2011 10:26:37 AM PST by montyspython
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To: george76

The CNBC panelists have been seeing green shoots for 2.5 years now


23 posted on 02/04/2011 10:37:44 AM PST by paul51 (11 September 2001 - Never forget)
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To: george76

Weird how bad news is refreshing. Has there ever been a greater need for honest journalism? Just reporting, no government spin, no corporate spin, no agenda other than reporting the facts and letting the chips fall where they may.


24 posted on 02/04/2011 10:46:39 AM PST by GBA (Not on our watch!)
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To: paul51
Some say the economy is recovering because of Obama’s policies. Other seem to think the economy will recover regardless of what policies the Government or the Fed employ. Eliminating the administration and media's spin, what I see in my world is things are lousy and appear to be getting worse.

If this is a recovery, I'd hate to see what a decline looks like.

25 posted on 02/04/2011 10:52:40 AM PST by Rational Thought
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To: The Comedian

And then they’d claim to have created or saved the difference.


26 posted on 02/04/2011 10:58:03 AM PST by Darth Reardon (No offense to drunken sailors)
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To: Nip
It seems that when the Federal Government extended unemployment benefits the costs out ran Florida's unemployment funds. So, all employers got hit with a special annual assessment to pay the interest on the unemployment funds.

Bookmarking this in case I'm ever stupid enough to think about starting a business.

27 posted on 02/04/2011 10:59:37 AM PST by Darth Reardon (No offense to drunken sailors)
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To: DonaldC
While unemployment numbers tend to dominate the playing field, and rightfully so, "the economy" has been showing strong signs of growth. The problem that is useful to analyze therefore is why the job numbers are not growing, and what will encourage that growth.
28 posted on 02/04/2011 12:09:04 PM PST by hinckley buzzard
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To: george76

The numbers the lefties can’t fake are:

1. FICA payments this quarter versus 1st qtr 2010.
2. Sales Tax payments each month in states with sales taxes.
3. Federal and State withholding tax totals in this quarter.

In about 3 months this hard data will be out so we can avoid the MMS bs and see what is really happening to our economy after two years of Obozo and 3 years under Reid/Pelosi.

The decrease in people paying in FICA has recently brought in some very dark and ominous projections for SS.

The Obozo increases in gasoline prices will hit any expansion of our economy with serious and continuous blows.


29 posted on 02/04/2011 1:42:50 PM PST by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
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To: george76
Yeah, how ironic, shameless that in a different era, President George H.W.Bush seeking re-election against Clinton, it was the worst economy in fifty years.

Hey, MSM, payback, it is a b*tch, the reality of which you're getting to know more and more each and every day.

30 posted on 02/04/2011 2:13:32 PM PST by lbryce
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To: ROLF of the HILL COUNTRY

Yes, the very one.


31 posted on 02/05/2011 4:08:41 PM PST by princeofdarkness (The Obama Administration is circling the wagons. But the Truth Indians are using flaming arrows.)
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