So, how is that hopey-changey thing working out for ya? 41 months at 8% or higher unemployment. And with 150,000 dropping out of the labor force, you know that the real unemployment rate is much, much higher than the official number.
The BLS, apparently working hard for Obama’s re-election, decided that with unemployment rising they’d better give the MSM something else to talk about – certainly don’t want them talking about the massive number of people out of work. Better to have them talk about the number of jobs being created! So, they just made up some numbers to make it look like the number of jobs went up. From Zero Hedge:
Happy (about) the headline establishment survey print of 133,245 which says that the US “added” 163,000 jobs in July from 133,082 last month? Consider this: the number was based on a non seasonally adjusted July number of 132,868. This was a 1.248 million drop from the June print. So how did the smoothing work out to make a real plunge into an “adjusted” rise? Simple: the BLS “added” 377K jobs for seasonal purposes. This was the largest seasonal addition … for a July NFP print in the past decade…But wait, there’s more: the Birth Death adjustment, which adds to the NSA Print to get to the final number, was +52k. How does this compare to July 2011? It is about 1000% higher: the last B/D adjustment was a tiny +5K! In other words, of the 163,000 jobs “added”, 429,000 was based on purely statistical fudging.
I’m a little bit surprised at this much brass on the part of the Bureau of Labor Statistics – all economic indicators in July were lousy: there wasn’t the slightest indicator that we were actually adding jobs…and here they come up, straight faced, and try to tell us not only that the economy created jobs, but created them faster than in June, when things were better than in July. But putting out that number – even with 16 million people out of work – allows Obama and his Democrats to keep up the meme of “jobs are being created” thanks to the stimulus. That meme – which is the only positive thing Obama has – would be permanently finished if we had a jobs print in negative territory. Now we know: until after November 6th, no matter what is really happening, the BLS will not put out a negative number…even if actual jobs losses will be in the 200,000 range, they’ll just fudge it until they get a positive number.
Fine and dandy – we know that Obama’s hope for re-election revolves around lying about himself and lying about Romney. The jobs report is the “lie about Obama” part, the latest fracas over Romney’s tax returns (set aloft by Harry Reid, who also seems to have some unanswered questions about his own past which have been floated just as credibly as the tax charge) is the “lie about Romney” part of it. We’ll see if it works – the idea is to turn off independents, depress Republicans and fire up Democrats as Obama’s only hope is a narrow win in a low-turnout race which allows him to cobble together 270 electoral votes. If it works, then it works – but it only works if Obama can fool the people. He managed it in 2008; I don’t think he’ll be able to do it in 2012 (much harder to fool people by scaring them than to fool them by making nice).
In the end, I expect that reality will defeat Obama – he and his minions can lie all they want but the people know what they are going through. I don’t know about you out there – maybe you’re all rich – but as for me it has been quite a lot of cutting back. My shirts, for instance, are bought at Goodwill these days…and I’ve found in conversation that I’m not remotely alone among my friends determined to bargain shop or do without. Things are rough; people fear the future; and for me and mine we’re actually far better off than many millions of people who were suckered by Obama in 2008 and now know the reality. After all the hype and lies I think that on November 6th the real people of the United States who have been living in the Obama Recession will show up to vote – and we’ll have a new President on January 20th.