Off-Topic: The Fraud of Jobs Numbers

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	Name:	MartiniMan -
	Subject:	The Fraud of Jobs Numbers
	Date:	6/4/2010 12:26:05 PM

Of the 431K new jobs all but 41K came from the temporary workers hired by the Census Bureau. Here's the scam. They hire people for 2 to 3 months and then let them go only to rehire them in a month or two. They are denying it but there are hundreds of census workers across the country who have come forward claiming it is happening to them. If you assume each census worker makes $45K and the average private sector employee earns $50K and pays $10K per year in taxes it will take 4.5 private sector jobs at $50K per year to make one census worker job. This is not sustainable.

More devastating is that in May private sector job growth was only 41K which is incredibly down from previous months and is a downward trend that is showing no sign of abating. When are we going to hit negative private sector job growth? The markets are devastated by these numbers. They see the percentage of total income in the private sector dropping to Depression era numbers while government grows to near record levels and they are running from equities.

And what does dear leader do? He actually cheers these devastating numbers! He either does not understand basic economics or he cynically believes that Americans are so profoundly stupid that they will actually be cheered by the worst economic news in a while. I am uncertain as to which it is but neither is good......

Other messages in this thread:

View Entire Thread

The Fraud of Jobs Numbers - MartiniMan - 6/4/2010 12:26:05 PM

It is amazing - - 6/4/2010 12:48:21 PM

It is amazing - water_watcher - 6/4/2010 12:51:27 PM

Speaking of the Press Conference... - Yankee06 - 6/4/2010 1:37:01 PM

JOBS - GoneFishin - 6/4/2010 9:13:21 PM

JOBS - MartiniMan - 6/4/2010 10:15:08 PM

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