The Obama Administration Lies On the Economy.

Discussion in 'Economy' started by Neubarth, Jun 17, 2009.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    The Obama Administration Lies On the Economy.

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    Supposedly, nonfarm payrolls for May fell to 345,000. I doubt that any rational people really believe this. If they want to believe it, that imaginary number was considerably better than the supposedly expected loss of 520,000 (Totally fictional numbers that they pull out of their keisters to make the public happy). And it was much better than in April (-504,000), March (-652,000), February (-681,000), and January (-741,000).

    They use this claim of decreasing unemployment numbers in spite of the fact that the Unemployment insurance claims have continued to come in at approximately 620,000 a week, or over 2.4 MILLION a month.

    The Bureau of Labor Statistics (BLS) has started using a fantasy model to estimate what may be going on in those parts of the labor market where the statisticians do not get data.

    One of these is the Birth/Death Adjustment Model which pertains to small and new corporations in “10 non-farm super-sectors, including leisure and hospitality.” This bogus model said 220,000 new jobs were added in May.

    The BLS then assumed that 7,000 financial service jobs and 43,000 construction jobs were created; and, of course, fully manned with the unemployed workers.

    That, of course, is highly unlikely because in the other part of the BLS report, where actual real data are available, both sectors showed job losses of 89,000. Obviously reality and fantasy are vastly divergent. The Obama Administration could care less. The important thing is to reassure the people that “the recession is almost over.” The numbers are manipulated each and every month to create that illusion.

    So, throw out the asinine Birth/Death Adjustment Model, throw in the actual job losses in the sectors and we find approximately 600,000 jobs were actually lost in May! That is an ‘ell of a lot different than Obama wants us to believe.

    Ahhh, but we are not done with the fantasy of improving employment. There is a new source of data called “Aggregate-hours worked.” This is an index that fell 0.7 percent in May after a 0.3 percent drop in April. So not only are there more people unemployed, but those that work are working fewer hours in the work week.

    As you all know, the Official Unemployment Rate rose to 9.4 percent in May, up from 8.9 percent in April. That is a 0.5% increase in unemployment. The labor pool is roughly 155 Million people. Let’s do some simple math. Let’s multiply the Official Labor Pool (155,000,000) by the amount of unemployment increase to get a better feel of how many people were added to the official unemployment numbers (0.5 X 155,000,000 = 775,000) Amazing! The actual number of unemployed increased 775,000 while Obama and his minions were claiming that it was only a 345,000 increase.

    Even this number is suspect because the DOL does not tabulate those people who (They say) have dropped out of the Labor Pool. They number close to ten million and are not counted.
     
  2. Oddball
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    Oddball BANNED Supporting Member

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    I dunno.

    For them to be lying would presuppose that they have any idea what they're talking about to begin with.
     

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