So they're fiddling the numbers and gaming the statistics.
Karl Denninger explains it and says, simply, "This report sucks."
Vox Day links to that very same link and adds his own comments: "The U3 figure is very easily gamed by simply not counting people who are not employed as unemployed."
That is to say, the Bureau of Lies and Shenanigans is refusing to count as officially unemployed those who don't have jobs but who also aren't actively looking for jobs. If you exclude people who simply cannot find any job openings to apply for, well, shazam! Unemployment is dropping because only ("only"!) 8.1% of the working population is without work and trying to find jobs!
It is, of course, complete horseshit. And the same media that told us, in 2004, that a U3 of 4.7% was terrible unemployment, because all the jobs that had been created since 2000 were "low-quality" jobs, and U6 was the real measure of unemployment--that media is strangely silent now on U6, and is trumpeting a U3 of 8.1% as a triumph of Democrat politics and a win for Obama.
Michelle Malkin, and I got a chuckle out of the first comment:
That settles it...we’re in for another Great Depression unless Romney releases the rest of his tax returns.But wait, you say. Aren't you missing the point? If U3 is how we've been measuring unemployment for years, why isn't it good that U3 has declined from its recessional high?
Because BLS has changed how they figure it in the meantime, that's why. We're comparing apples (Bush years numbers) to oranges (Obama years numbers) because the equations have been changed.
Denninger explains it:
The reason the unemployment rate "edged down" is that 1.483 million people gave up and exited the workforce! The Department ofI didn't replicate his emphasis, though I did replicate his strikeout. Sorry about that.
LaborLies doesn't count anyone who gives up any longer, so the "unemployment rate" is claimed to have decreased.
But what's worse is that there were a net 868,000 fewer people with jobs in August over July, despite there being 212,000 more people of working age in the population. That's right -- net-on-net over one million fewer people (adjusted for population change) were working last month.
But he goes on with chart-fu, and says, "This is where your "unemployment rate" decrease came from -- people giving up.
AoSHQ: "You Can Tell If Something Hurts Liberals By Their Shrill Insistence We Not Discuss It".
So, four things we're to not talk about:* * *
1. Obama's convention speech. Who cares about speeches? It's results that matter.
2. Obama's results. Who cares about results? We should be talking about Romney's vague statements about Afghanistan.
3. Obama's declining popularity requiring him to shift his speech from a 70,000 seat arena to a 20,000 seat cafetorium. It was the weather, guys. The night was cool and clear but no one could have predicted such a strange weather pattern.
And now, 4: The jobs report.
Denninger also says that earnings forecasts are declining. Intel and FedEx revised downward their forecasts this week.
The fact of the matter is that China is slowing precipitously, Europe is still in a formal recession, we've been evading recognition of ours with monstrous federal borrowing and we will be forced to stop it soon as well.And the market will crash--in January if nothing else, when "Taxamageddon" kicks in.
Our day of reckoning is coming -- right now the game of the Administration is to keep the plates spinning in the air until after the election, as a market crash will guarantee an Obama loss -- and The President knows it.
* * *
Paranoid thought: what if the Democrats are engineering a loss this November?
Anyone with any brains can look at the economy and its direction, do the math, and figure out that things are going to come apart soon--certainly in the next four years there's going to be a honey of an "economic correction".
By losing this November, Democrats hand all the blame to the GOP, and then Republicans lose elections for the next decade. Or longer--look at how long Democrats held control of Congress after the Depression!
Vox Day has said that he really thinks Obama wants to lose the election.
Bears thinking about.
* * *
Media attemps to spin Obama's lame acceptance speech as a brilliant strategic move. What a pity it was just a bad speech.
* * *
Democrat convention displays its disdain for Christianity. Churches try to welcome the DNC to town; DNC spurns their gesture.
"Wusses and basketcases," Elizabeth Scalia says, of the Democrat party. "'We cannot tolerate your hospitality, because you don’t think as we do.' Incredible."
Stay classy, Democrats!
* * *
Well! I got a call from Comcast this morning to
SCHEDULE A JOB INTERVIEW.
It's Wednesday at 8 AM, in Woodridge. I'm going to have to leave here no later than 6:30 AM that day to get there in time. But that's fine, because for the first couple of months I'll be working 9-5 while I'm in training, so I might as well get used to it.
Bonus: I don't have to take I-294 to get there. I-355 FTW baby! (Though at rush hour, it's not exactly good.)
Now all I need to do is pray the Test Pilot's Prayer:
Please, God, don't let me fuck up.Heh.
* * *
Starting to think the Fiero's not going to be drivable this Sunday, which fits rather nicely with the weather forecast.
You see, whenever I have participated in a car show, it has been bloody hot and humid and windless for the entire day. Like Fierorama 2005, or the Heartland Fieros show that year--both days were bloody hot and humid and still, and I was almost perfectly miserable the entire time. And the same shows in 2004--bleah.
But in 2003 there was a big GM car show at Hawkeye Downs, and I didn't participate because I'd had to work and hadn't had time to get my car cleaned up for the show--and wanted to sleep in on a precious Sunday off--and that day was cool and breezy and it was easy to stay there the whole time.
This Sunday, the forecast is for low 70s.
Lemonzen surprised me last night by showing up in church while I was at choir practice. I therefore spent my Thursday night being with her (for the first time in ten days, because of her work schedule and a medical malady) rather than doing any work on the Fiero. So now I have today and tomorrow to get the Fiero buttoned up--and somehow I don't think it's going to happen, especially since I feel fain to embalmed right now and doubt I'll get much done on the car tonight.
And around everything else that's going on, I still have a garage sale to get ready for. So I might give up on the Fiero for now and just get ready for that, and then get the Fiero running in my spare time...assuming I have any energy. *sigh*
Well, it's a full life, if you don't weaken. I just wish I could stop weakening all the time....