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Jack Welch: I Was Right About That Strange Jobs Report

Posted By admin On October 10, 2012 @ 9:30 am In Money Watch | Comments Disabled

Jack Welch
Wall Street Journal [1]
October 10, 2012

Imagine a country where challenging the ruling authorities—questioning, say, a piece of data released by central headquarters—would result in mobs of administration sympathizers claiming you should feel “embarrassed” and labeling you a fool, or worse.

Soviet Russia perhaps? Communist China? Nope, that would be the United States right now, when a person (like me, for instance) suggests that a certain government datum (like the September unemployment rate of 7.8%) doesn’t make sense.

Unfortunately for those who would like me to pipe down, the 7.8% unemployment figure released by the Bureau of Labor Statistics (BLS) last week is downright implausible. And that’s why I made a stink about it.

The economy is not in a free-fall. Oil and gas are strong, automotive is doing well and we seem to be seeing the beginning of a housing comeback. But I doubt many of us know any businessperson who believes the economy is growing at breakneck speed, as it would have to be for unemployment to drop to 7.8% from 8.3% over the course of two months.

Full story here. [1]

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URLs in this post:

[1] Wall Street Journal: http://online.wsj.com/article/SB10000872396390444897304578046260406091012.html?mod=WSJ_Opinion_LEADTop

[2] Jack Welch and Others Reaffirm Criticisms of September Jobs Report: http://www.prisonplanet.com/jack-welch-and-others-reaffirm-criticisms-of-september-jobs-report.html

[3] Tea Party Congressman Allen West: Jack Welch Is Right On Jobs Report Manipulation Theory: http://www.prisonplanet.com/tea-party-congressman-allen-west-jack-welch-is-right-on-jobs-report-manipulation-theory.html

[4] JACK WELCH: Obama Is Manipulating The Jobs Numbers Because His Debate Performance Was Awful: http://www.prisonplanet.com/jack-welch-obama-is-manipulating-the-jobs-numbers-because-his-debate-performance-was-awful.html

[5] Obama Administration Is ‘Anti-Business’: Jack Welch: http://www.prisonplanet.com/obama-administration-is-anti-business-jack-welch.html

[6] Bureau of Labor Jobs Report: More Lies From “our” Big Brother: http://www.prisonplanet.com/bureau-of-labor-jobs-report-more-lies-from-%e2%80%9cour%e2%80%9d-big-brother.html

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