Posted on 10/09/2012 12:33:43 PM PDT by SeekAndFind
First, I'm a grandfather for the first time, and it's an amazing blessing. The country my granddaughter has come into is at a very dangerous point. The economy is teetering, but Main Street is being told it's all okay. What's problematic is the rapid decline in the last year. That unemployment rate number on Friday was a total farce, but even if it was completely honest, 7.8% is way too high for an economy that supposedly turned the corner a long time ago.
The number doesn't jibe, with an economy growing at 1.3%. The only honest aspect of the report was that more people were entering the work force, but I guarantee a new line of questioning accompanied the Household Survey. Few people know that President Obama placed a former contract negotiator and union steward to run the Bureau of Labor Statistics.
Erica Groshen taught Statistical Methods for Economists, Trade Unions, Collective Bargaining, and Public Policy at Harvard. Although she calls herself "nonpartisan," rumblings about sending her children to a communist summer camp coupled with her left-leaning teachings have many worried. Of course, the Left uses the victim-race card, saying Nixon pushed all the Jews out of BLS, so it's about time. This is scary stuff.
What was real in the Friday number was private sector job creation at 104,000, below consensus and less than half where it was a year ago.
Manufacturing continues to shed jobs, and temp work is exploding. This is a shadow of what America is really all about. But, this is how nations morph when the focus is on squeezing the gap between rich (and the so-called rich) and poor, by browbeating the former, while spreading crumbs to the latter.
If Socialism is So Great, Why all the Cheating?
Just as I'm sure Friday's jobs numbers were manipulated by the administration, Hugo Chavez was able to cheat Henrique Capriles. Hugo Chavez, whose ham-fisted socialist approach has reduced welfare and poverty while erasing real opportunities for real prosperity, more than likely stole the election, which posed the greatest threat to his 14 year run to date. He has nationalized businesses and usurped the power of Congress and courts ... sound familiar? Considering all the oil Venezuela possesses, it's a shame the nation continues to struggle. The fix was in from the beginning, but I read lots of interviews where poor people waited as much as six hours for the chance to vote out another great redistributionist.
For me, that's a great sign. While some poor people are okay with being bought off, others want real opportunities, not handouts. Some understand ripping down wealth created by others limits the chances they could have real wealth or real opportunities other than being wards of the state.
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Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors
The Romney administration will certainly do a study along these lines. And it will involve not only the unemployment rate, but all the statistics that are measures of business activity -- corporate profits, orders and inventory, productivity, etc.
There are real reasons why these statistics are generated. They guide federal policy and play a role in all kinds of business decisions -- helping decision makers understand the business cycle and the true health of the economy.
It follows that there is a value in their accuracy.
I recall that, when the Bush II administration took office in 2001, they had to go back and re-state the economic data for the previous nine quarters! The Clinton administration had been over-stating the health of the economy for over two years, trying to mask a downturn that would have damaged the Democrats' electoral fortunes in the 2000 elections.
As long as he doesn't vote for Obama in a polling booth.
Allow me to rephrase.
Payne admitted to Beck that he voted for 0bama. This was during a segment that Beck was doing on Mr. Payne in regards to his upbringing and childhood.
IMO, any financial ‘expert’ (as Payne portrays himself) loses all credibility if they voted for an obvious Socialist as Payne did.
Churchillspirit is correct, in that, he doubts that Payne will do the same this time around.
On radio WGUL- I listened to an analysis of this & they said it is talking about new 'homebased' jobs. A government worker, retired who made $75,000 yearly now does some dog walking at $2,500 per year is considered a full time job.
They call the people & then count them as a full time job. If they call 4 different times - it's counted as 4 new permanent jobs.
Not sure if this analysis is correct - just passing info on what I heard.
"he" is actually a "she".....:)
Gallup has been reporting an independent “poll” of unemployment rate twice monthly for nearly two years: http://www.gallup.com/tag/Unemployment.aspx
They reported http://www.gallup.com/poll/157871/unadjusted-unemployment-rate-september.aspx that the unemployment rate was down a couple tenths, and their adjusted rate from September-September was unchanged.
Sorry but no intelligent man voted for Obama unless he was an outright crook.
Zombies should be disenfranchised.
Jack Welch: I Was Right About That Strange Jobs Report
Just like I said before: King Obama was covering for his very BAD debate performance. The mainstream media ought to be jailed for going along with him like little lap dogs.
Just the anemic GDP number would also prove that the fabricated Obama administration jobs report was bogus.
So is Barnes and Knoble and City Market becasue I know this from friends who work at these places.
My Company is taking a slightly different tack, but to the same end -- we are replacing fulltime employees with 1099 workers that work contract to contract. They still work fulltime, but for higher salary and ZERO BENEFITS and as a result do not count toward the overall employee number. We have so far dropped from 117 'full time' employees to 68 in the last 6 months, and are on target to be below 50 by the end of the year.
” Some questions allow for unambiguous answers, but others less so. For instance, the range for part-time work falls between one hour and 34 hours a week. So, if an out-of-work accountant tells a census worker, “I got one baby-sitting job this week just to cover my kid’s bus fare, but I haven’t been able to find anything else,” that could be recorded as being employed part-time.”
There you are. A must read for FReepers.
Sorry but I think that is 20/20 hindsight.
In 2008 the prevailing wish was "Anybody but Hillary". Folks were willing to overlook guilt -by-association of Obama's relationship with people like Rev. Wright and Bill Ayers.
Also many folks were not enthused by the GOP ticket.
The Kenyan would never have been my choice but I can understand how some people - especial blacks - could have been willing to "give him a try".
The good news is that this time around he has a record - and it will sink him!!
It was obvious to anyone who cared to look at the man that he had NO qualifications to be president. Picking him over ANYONE was not an intelligent act.
I knew this then and so did anyone who took his duty as a citizen seriously.
You are, of course, entitled to your opinion.
We have The Disaster ONLY because Americans do not take their responsibility as citizens seriously. They refuse to take the time to actually learn about their history, political system and what realities actually are.
It is as a means of redressing this that I find FR so remarkable for it is a haven for those who DO take their citizenship as a sacred matter.
It would be an ideal world if everyone gave equal measure to their responsibilities as well as to their rights.
I am sure I agree with anyone named “Churchillspirit” about a lot of things.
:)
All the data coming from the Obama White House is nothing but lies.
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