Sunday, June 05, 2011

Did the economy create 54,000 jobs in May, or lose over 150,000?

What's worse: That a mere 54,000 jobs were created in May, by a planned economy run by super geniuses Barack Obama and Tim Geithner?

Or that McDonald's likely created at least half of those jobs?

Or - that maybe no jobs were created at all, but instead, almost 150,000 jobs may have been lost?


Friday’s jobs report was as dismal as it is frightening. Just 54,000 new jobs were added last month, the worst showing since last September. If you take out the 206,000 jobs the Labor Department added in for demographic adjustments, the economy actually lost more than 150,000 jobs in May.

We discussed this win early May when the strange and contradictory April numbers were released; here's how the con works:

The Labor Department reported that 244,000 new non-farm jobs were created in April. Wall Street expected only about 180,000 -- and the difference between those two numbers is worth billions to investors.

To get its job count up to 244,000, the Labor Department added 175,000 jobs that it thinks and hopes -- but can't prove -- actually exist.

These 175,000 jobs are what Uncle Sam believes are being created by newly-formed companies.

Since economic growth in 2011 has clearly slowed...Labor's guess on the number of new companies being created is a case of wishful thinking and faulty computer programming.

"Newly-formed companies"??  In a tightly regulated economy, with little to no credit available, with a population lacking the purchasing power to buy more than food and fuel?  Seriously?

Things are worse than they seem. And with the president more concerned about placing blame for the problem until he can get re-elected (talk about wishful thinking!), when the economy finally does collapse under the weight of debt, unemployment, taxation, and cronyism, it will hit us like a tsunami, with all the attendent destruction.

I don't even see a way to stop it. I'm just trying to figure out how the hell I am going to hold on...

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