Jack Welch Vs. Chris Matthews: BS Jobs Report

Highlight - Runs 30 seconds.  Clips are from Friday night on Hardball.

Meet the Obama Donors at the BLS...

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Full interview:

Pay close attention to the bold text - and tasty irony - immediately below.

White House official reaction:

"That's a ludicrous comment.  No serious person believes that the Bureau of Labor Statistics manipulates its statistics," said Alan Krueger, chairman of the White House Council of Economic Advisers.  "The jobs report and all of their other statistics are prepared by career employees.  They use the same process every month.  They use the same process for Republican and Democratic administrations."

Welch responds in the WSJ today:

I'm not the first person to question government numbers, and hopefully I won't be the last. Take, for example, one of my chief critics in this go-round, Austan Goolsbee, former chairman of the Obama administration's Council of Economic Advisers.  Back in 2003, Mr. Goolsbee himself, commenting on a Bush-era unemployment figure, wrote in a New York Times op-ed: "the government has cooked the books."

So it's ok for Democrats to question official data, but off-limits for everyone else.

Related:

GE's Jack Welch Knows All About Cooking The Books

Comments

[DailyBail]

Welch quits writing for Fortune

http://finance.fortune.cnn.com/2012/10/09/jack-welch-quits/

[DailyBail]

10 reactions to Jack Welch’s ‘Chicago guys’ jobs conspiracy tweet

http://blogs.marketwatch.com/thetell/2012/10/05/10-reactions-to-jack-welchs-chicago-guys-jobs-conspiracy-tweet/

Some of these are funny

[DailyBail]

This is page 1 of 8 pages that BLS uses to explain all the theory and assumptions that go into the monthly number. ADP payrolls are a much better overall gauge.

http://stats.bls.gov/opub/hom/homch1_a.htm

[DailyBail]

Meet the Obama Donors at the BLS

http://freebeacon.com/meet-the-obama-donors-at-the-bls/

[Mike]

Only the SHEEPLE would believe that unemployment dropped this much a month before the election.

Wow, Americans(who watch MSM) are the stupidest people on the planet. I can't believe I actually listened to this Chris person (is he new??)

What's next? Vaccines are safe? WMD were found in Iraq? Al Qaeda is our enemy killing our troops in Iraq/ Afghanistan, no wait.. they are our friends killing women and children in Lybia/Syria, no...GMO's are good for us, no wait Obama gave me a phone...

Just keep watching Dancing With The Stars!!!!! Get ready for Camp Fema, no wait, that's been confirmed, but no, I'm wearing a tin foil hat, no...........little tiny 'raqi babies hate my Freeeeeee---dumbbbbbbbbbbb.

P.S. Don't take your money out of 401K, or any Bank it is just fine, just ask MFGlobal!!!!!, stay away from Gold, and keep reporting see something say something!!! American Idol will be on soon, gotta go!

[S. Gompers]

Those stats are traditionally the most manipulated, And Jack would know, his company has proudly exported jobs for many years.

[john]

Speaking of GE...

GREEN DEALS: Big solar, big wind, great opportunity

http://www.climatespectator.com.au/commentary/green-deals-big-solar-big-wind-great-opportunity

[snip]

Greenough River Solar Farm
The first large-scale solar farm in Australia was officially opened on Wednesday. The 10 MW Greenough River Solar Farm in Western Australia was switched on by project partners Verve Energy, GE Energy and First Solar after more than a year of planning, construction and testing.
Verve CEO Jason Waters said the successful development meant the partners would now consider expanding the plant to a 40 MW facility. The plant's output will be purchased by the WA Water Corporation to help offset the energy requirements of its Southern Seawater Desalination Plant.
GE and Verve jointly own the site, with First Solar supplying the panels and providing operations and maintenance services for the next 15 years.

Note: Australia has a carbon tax.

[LadyLiberty]

The Fed in Bed not only with the banks but with the obamination

Fudge unemployment numbers again for tonights debate check

John Williams on Lies, Damned Lies and the 7.8% Unemployment Rate

snip

The BLS knows what the actual number is. It has an actual estimate for August, which is consistent with September, but it doesn't publish it because it says it "doesn't want to confuse data users." But it is putting out numbers that have no meaning month-to-month. One month before the election and a month after Federal Reserve Chairman Ben Bernanke announced Quantitative Easing (QE) 3, is not a time to have inaccurate numbers. The BLS should publish the consistent numbers now.

in full http://www.lewrockwell.com/rep3/john-williams-lies-unemployment-rate.html

Give stocks an artificial boost check

Stocks rise on jobless claims data

http://money.cnn.com/2012/10/11/investing/stocks-markets/index.html?iid=HP_LN

Remind Wall St. they are in this together check

Memo To Investors: Bernanke And Obama Are Your Business Partners

http://www.forbes.com/sites/jerrybowyer/2012/10/10/memo-to-investors-bernanke-and-obama-are-your-business-partners/

Work on shoveling more money to banks check

Freddie's Foreclosure Plan Hits Roadblock

http://online.wsj.com/article/SB10000872396390443862604578032370903743946.html

Continue off loading toxic crap unto the taxpayers so the banks can double back and make more profit off the bad loans they stuffed the taxpayers with check

GSEs Remain Backdoor Bailouts for Banks

http://www.ritholtz.com/blog/2012/09/gses-remain-backdoor-bailouts-for-banks/

Sue a couple of banks to make it look like he's getting tough on them for the election (but no criminal charges) check

No CRIMINAL Prosecutions for obama's bankster pals who paid him off check

http://dailycaller.com/2012/08/07/report-cronyism-political-donations-likely-behind-obama-holder-failure-to-charge-any-bankers-after-2008-financial-meltdown/

Mission accomplished as the Statute of Limitations expires