Comments on: Beware the government’s job figures

By: Rick

Rick — Tue, 11 Aug 2009 23:54:01 +0000

http://www.shadowstats.com/alternate_dat a is correct. Plus, the recent stock market rally, is being funded by the Fed. Those who are saying the worst is over, are lairs. O had a chance to make real change, but he sold out to Goldman. Nothing has changed, and things are just going to get worst. Save your money. An economy based on buying things we don’t need, is doomed to fail.

By: Not A Serf

Not A Serf — Sun, 09 Aug 2009 23:17:00 +0000

Re: Thomas- So tax cuts do not stimulate the economy and increase employment? Funny, as I recollect, Rebublican tax cuts pulled us out of the 1983 and 2001 recessions, (Kennedy’s cuts also reversed the 1961 recession). Clinton’s tax increase in ’93 actually extended that downturn. Please don’t try to bullshit us with your partisan, made-up “facts”.

By: Thomas

Thomas — Sun, 09 Aug 2009 11:45:47 +0000

Americans have learned the hard way that Republican tax cuts DO NOT work to create jobs. The labor pool in India and China is way to large. The Republican party is out of power and trying to find a new favorite mantra.

By: John Booke

John Booke — Sun, 09 Aug 2009 00:28:59 +0000

BLS is probably looking at the amazingly record high number of new Social Security retirees every month so far this year (862,000 since January). These people could be looking for jobs and could be counted in the Household survey as unemployed but BLS knows most of these folks are 62 (leading edge of the “baby boom” generation)who’ve simply given up and are desperate for some income. The July drop in the unemployment rate should not be a surprise. The surprise would be if the rate ever reaches 10% because the “baby boomers” are going to continue to “give up” for the next 20 years.

By: sangellone

sangellone — Sat, 08 Aug 2009 17:29:02 +0000

Besides the obvious flaws in the methodology of calculating the unemployment rate you mention Rolfe how are independant contractors and sole propriertorships dealt with, if you know?

Does a tractor trailer owner operator who can’t find any loads to carry or has his truck repossessed counted as ‘unemployed’. How about a person who is self employed as a carpenter/contractor etc dealt with when he hasn’t had any work for months?

By: Frank

Frank — Sat, 08 Aug 2009 16:58:28 +0000

The unemployment and underemployment rate certainly are heading upward. It’s easy to figure that out, but consider those who have simply decided not to look for typical work after their unemployment benefits ran out. I’m not sure why the government has to cook the books on this, when everyone knows the real truth. Anyone who actually believes that unemployment is headed downward should consider visiting their local neighborhood psychiatrist, especially before obamacare takes place.

By: Pete Cann

Pete Cann — Sat, 08 Aug 2009 14:53:08 +0000

Thanks for the compelling info. The official figures are certainly garbage, due to neglecting “discouraged” workers. Maybe we can also get Reuters not to drop the phrase, “seasonally adjusted.” (Apparently the government also uses tricks to doctor inflation figures, to keep down the Social Security cost of living adjustments.)

Why don’t you have your own blog series on Reuters? You only turn up here and there.

So what about option armageddon, anyway? That’s what I want to hear about. What are they saying now, we have $700 trillion (yup, 7×10^14) worth of options outstanding with a Gross World Product of $50 trillion? If that played out the wrong way we could all hit the pavement pretty hard!

By: James Raider

James Raider — Sat, 08 Aug 2009 06:49:07 +0000

DON’T BELIEVE THE DOUBLE-SPEAK

Ignoring economic reality is more than simply idiotic.

http://pacificgatepost.blogspot.com/2009 /08/obama-middle-class-income-tax-incre ases.html

…..Keep saving every dime you can for tomorrow.