Ok, I know I haven’t posted in a while. Super busy, excuse, excuse excuse, but I had to say something about the headlines coming out recently. National media has an agenda, plain and simple. No longer are there hard hitting news journalist digging for the truth and willing to take risks to inform the people of said truth. The thing that pains me the most is that so many people simply buy into it without even thinking about what they are reading or hearing. For instance:
“Futures Jump on Surprise July Job FiguresAP
Stock futures rose sharply after a July jobs report revealed the strongest hiring trends in five months.
The economy has added an average of 75,000 jobs a month from April through June, a sharp decline from the 226,000 jobs per month added in the first three months of the year.”
[How is that good news? Even though companies are hiring, far more people are being let go than are getting hired – see next headline.]
U.S. job growth steps up, but jobless rate rises
“LIMITED JOB DESTRUCTION
“We are not seeing large scale layoffs, so job destruction is pretty limited,” said Scott Brown, chief economist at Raymond James & Associates in St. Petersburg, Florida.” [HELLO!!! Corporations cut payroll to the bone 2 years ago! There are no more
to be laid off if the company wants to continues to operate!]
John Smithcommented on the article:
STATISTICAL BULL SHEET: the BLS turned a plunge in employment into a rise by simply “adding” 377K jobs for “seasonal purposes.” This was the largest “seasonal addition” for a July NFP print in the past DECADE. The Birth Death adjustment, which adds +52k is about 1000% higher (the last B/D adjustment was +5K). Of the 163,000 jobs “added”, 429,000 are BASED ON PURELY STATISTICAL BALONEY!
And this one from yesterday:
“Jobless Claims Rise Less Than ExpectedReuters
The number of Americans filing new claims for jobless benefits rose less than expected last week [but they still rose!], but the data continues to be influenced by distortions from seasonal auto shutdowns.
Initial claims for state unemployment benefits rose 8,000 to a seasonally adjusted 365,000, the Labor Department said on Thursday. The prior week’s figure was revised up to 357,000 from the previously reported 353,000.” [Did everyone
catch that? Wanna bet this weeks will be as well?]
[So here comes the spin…] “Temporary plant shutdowns by automakers for annual retooling cause wide swings in claims data in July, which makes it difficult to get a clear picture of the labor market’s health.
Job growth averaged 75,000 per month in the second quarter, a sharp deceleration from the average monthly increase of 226,000 in the first three months of the year.” [think about this: if employers really did add that many jobs, but unemployment
claims still went up,…]
Someone commented: “how much more of this recovery can the nation endure?” [Sooo Appropriate!]
[Note: the comments in brackets are mine]
The masses aren’t uncomfortable enough care. They merely want to be distracted from the nagging dissatisfaction they are getting out of living the life someone else wants them to live.
“Comfort makes cowards of us all.” – Michael Gerber, The E-Myth Revisited.