Tag Archives: economists

A Great July Jobs Report!

The Administration announced what might be one of the best jobs reports in it’s almost 8-year history today.

It reported over 225,000 jobs created.

This is Super Great Awesome Amazing news!*

Let me ask you…

Why do we trust anything this Administration reports anymore?
It is true that I don’t trust anything ANY Administration reports, but at this point this one has demonstrated a complete disdain for the truth… and your intelligence.

Shall we take a stroll down memory lane?

It was Video.
Jonathan Gruber.
American Citizens and their Love of Guns is responsible for Mexican Drug Cartels getting Weapons.
The IRS does not target Political Enemies of the Left.
Our relationship with Israel has never been better.
We stand with the Iranian Freedom Movement.
We stand with Ukraine.
We don’t pay ransom for hostages.
I don’t have a private server, okay I do but it’s secure, okay it’s not but nothing secret was on it, okay there was but nothing important, okay there was some important stuff but I turned over everything to the state department for their review, okay I didn’t but AT THIS POINT WHAT DOES IT REALLY MATTER!?
Secretary Clinton was the Greatest Secretary if State this country has ever had.
If you like your Doctor, You can keep your doctor.
It will save every family $2500 a year.
It was the banks fault the economy almost melted down.
This is a robust recovery.
The Border is secure.
The guidelines for identifying terrorists does not specifically include veterans.

We will not tolerate use of Chemical Weapons AKA Weapons of Mass Destruction in the Middle East.

There’s much more but my fingers are tapped out.

Oh… wait… and the above “*”.

*All numbers are subject to revision… and they are always revised down… when nobody is paying attention and the previous, erroneous, number has already been disseminated.

So, Why do we Trust?

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Number Monkeys

(Does ANYONE believe that the Administration Magically produced 7 million enrollees in Obama Care in just two weeks?  Bueller…. Bueller… Anyone?  Really?  We have Seen This Before.  In fact, we’re still seeing it with the Unemployment numbers.  Please re-read the below post, then ask yourself is Anything this Administration says believable?  Anything?  Then ask yourself, Is the Press now totally co-opted by the ruling party?  Are our Media simply Propaganda Arms of the Government?  It’s all so Incredible to be Unbelievable if it wasn’t happening right before our eyes.)

(And yesterday, Sibelius actually said that 5.3-5.4% Unemployment should represent “Full Employment”.  Not long ago a President was Condemned Roundly by the Left when Unemployment went over 5%.  5%.  Again… 5%.  These people know no bounds when it comes to blatantly insulting our intelligence.)

Why isn’t anyone asking for the exact formula used to calculate unemployment and then posting it on the screen every time the numbers are presented?  How hard can this be?

I contend that just like the rhetoric employed by politicians such as “Forward”, “Hope and Change” and “Country First” the formulas we use to get our numbers are always left intentionally vague.  Think about it for a moment… If you know exactly how the data is arrived at, you might be able to do it yourself.  And… if you could do it yourself then there is no way for any Administration to monkey with the results.

In other words, if you define anything, it will be used to measure your performance.  We certainly cannot have any of that in government.  And clearly we are willing to accept, allow, endorse this behavior from our political leaders.  Why on earth would you be specific when you can leave it all up to the listeners imagination?  If they like you, they’ll make it mean whatever they think is favorable, if they don’t like you… well, who cares?

So once again we have an unemployment number that is meaningless except that it’s bad, or good, depending on who you like.  Keep in mind, it’s the best one the Monkey’s could produce… and sometimes it’s better than the last one, until the Monkey’s revise it when no one is looking, and then it’s not… or it is.

My latest favorite bit of Monkey business has applied a number to those “dropping out fo the work force” and “those who have stopped looking for work”.

I’m not the sharpest bowling ball in the deck, so it’s probably no surprise that I don’t understand what that means.  Help me here.  Does that mean that these people have disappeared from the face of the earth?  Does it mean they have illegally crossed the border into Canada to find work?  Does it mean that they are no longer a burden on our already overwhelmed social safety net because they stopped taking welfare? (This one I would be happy with.) Apparently none of the above.  It simply means they are not considered “unemployed”.

Well okay!…  Let’s all drop out of the workforce thus solving our problem.

Frankly, I’m not sure why our government goes through all the posturing to create an idea that any of this is based in reason.  I would have more respect if they just came out and said “We made up this months unemployment number, at it’s X.”  (It’s been done before… FDR did it with gold.)  Then at least there would be some honesty, even if inaccuracy remains, in the system.

I can hear it now… “Mike, you’re just not educated enough to understand the complexities involved when trying to get an accurate number for something like unemployment. It’s just not that simple.”  Yes… Yes… it’s FAR TOO COMPLEX for small minds like mine.  I seem to hear this anytime the Number Monkey’s get challenged.  Well, yes, it is that simple which is why I’m educated enough to understand it.

Floating metrics are loved by anyone not wishing to be held accountable to the results of their prognostications.  “We created 4 million new jobs!”  Just don’t bother me with the fact that unemployment is going up, not down.  And don’t bother me with the fact that many of these jobs already existed but we decided to call them something else in order to count them.  I get to decide what job is and I get to decide how I calculate it… so SHUT UP, SHUT UP, SHUT UP and stop bothering me…  As long as we let them get away with it then they will keep behaving like your little sister.  This truly is supposed to be the function of our news media as our watchdogs over government.  Where are these bastions of objectivity when you need them?

I guess it’s up to us.

So, let’s all agree on a single, unalterable, formula and stick to it.  We should also agree that people don’t simply disappear.  I’m sure all the media will jump on this idea after they read this post.

If nothing else it would be fun to watch the politicians screams out in pain after being shown the cross of accountability.  Remember, the formulas should not change from Administration to Administration.

And, let’s start making a public list of those “surprised” economists every time the economic numbers come out.  I think it would be useful for the news agencies (since they are incapable of doing this themselves) to finally figure out who not to listen to.  (For all you news nets out there, you can just send me a check for that one.  I also accept scotch.)

(Originally posted 091912… yet here we are again.)

(And Again… and again…)