Skip to comments.Santelli Smells A Rat: 'I Told You They'd Get It Under 8%—They Did!'
Posted on 10/05/2012 10:34:53 AM PDT by chessplayer
Rick Santelli, the man who helped launch the Tea Party with his impassioned comments from the trading floor in 2009, sees the hand of politics at work in today's announcement that the unemployment rate has dipped below 8%.
Speaking on CNBC's Squawk Box this morning just minutes after the number was announced, Santelli said: "I told you they'd get it under 8%--they did!" View the video after the jump.
The Obama campaign is sure to jump on the news today--but Santelli has put a big question mark over the validity of the data.
How is this possible:
114,000 jobs added in September 2004 drops U3 Unemployment by 0.1%
114,000 jobs added in September 2012 drops U3 Unemployment by 0.3% (when we have a higher total population)
Same number of jobs, bigger total labor pool, and you get three times the drop in unemployment?
Other than manipulating data, what other plausible explanation is there...?
I don’t think anybody believes these numbers.
Based on observation, however, I would say that Obama’s policies are being very successful in creating a European-style underground economy: people collect government benefits while at the same time being hired “off the books” for jobs by small companies that are terrified of the new government regulations and tax structure and want to maintain a low profile.
That’s one of the things that brought down Spain, which actually had a lot of jobs...but because of excessive regulation and excessive taxes, they were all off the books, and eventually the whole game imploded. Aznar tried to change this, but Zapatero brought it back with a vengeance. And now Spain is paying the price.
Let’s not go there. Get rid of Obama NOW!
I recall sometime last month, I heard a report on the radio that the DOL has “discovered” 800K jobs that had been “missing” from the stats. There weren’t many details provided as to how this occurred and I remember thinking that this sounded awfully fishy.
I’m guessing these 800K jobs were added into the overall number.
I recall sometime last month, I heard a report on the radio that the DOL has discovered 800K jobs that had been missing from the stats.
I remember that too. I expect there will be a lot more jobs “discovered” in the next few weeks!
They fell behind the sofa.
Sorry about that.
In light of what happened Wed nite, anyone who can "connect dots" know the numbers are bogus and are politically "cooked".
The most horrible part of all this, IMO, is that over half of the American People now know, or suspect, that Obama's Administration is infested with criminal reprobates from top to bottom.
It is beyond sad that info coming from the "Labor Dept" is immediately suspected as being influenced by politics. The info is supposed to be unbiased and compiled by real numbers, not "cooked" by some convoluted formula contrived by politicians who want Pres Zer0 to "look good".
I would have thought that the Obama crime family would have at least had someone there with the intelligence to give themselves a little "distance" by cooking the jobs books next month instead of now. They had to know that millions of people will see thru the scam...even some of the 47%.
Not surprising, we live in a command economy now controlled by the central bankers and politicians. All the statistics are cooked that come out of the government and you really can’t trust any of them. The guy over at shadowstats keeps a better set of books.
Worse, the Left expects sane people to believe there were almost 600,000 PART TIME jobs created in September. That is simply laughable.
If Obama’s lying Labor Dept. was going to doctor the percentage, they should have started back in Feb. to jack it up 50,000 at a time, but Hilda Solis, who is even too stupid to cheat correctly, dumped all these bogus numbers in the hopper the month before the election. I think Congress ought to call hearngs and let that Commie bimbo defend her numbers. That would truly be hilarious.
Nobody is going to believe this number except MSNBC viewers. Leftie reporters, however, will pretend to believe them in public.
The stakes are very great. The people in charge of the numbers have a lot to gain and nothing to lose. They will never be held accountable for lying. Their “principles” allow them to lie for their cause.
Conclusion - the numbers are a lie.
But; the fact is that the unemployment number is being calculated differently know than 4 years. Not sure of the details; but it is a different method. That alone from what I remember is showing the rate about 3% lower than it should be?
So it's not a big leap to hear on late November that; oops, we changed something in the data and Oct numbers are wrong.
The timing and amount of change is just too convenient.
The History channel isn'tt history with this clown on it...
The amount of change is farcical.
There would have to be 5% GDP growth for it even to be possible.
I'm comforted knowing that Paul Ryan is next at bat. He will know how to deal with this.
yes I heard this news as it woke me up this morning on my clock radio, and I said to my wife, “how convenient”..
this was either due to threatening the bean counters, or bribing them, or both.