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Title: Santelli Slams CNBC Shills for Spinning Jobs Report
Source:
Business & Media Institute
URL Source: http://www.mrc.org/bmi/articles/201 ... _for_Spinning_Jobs_Report.html
Published: Feb 4, 2011
Author: Julia A. Seymour
Post Date: 2011-02-04 12:27:57 by Happy Quanzaa
Keywords: hacks, shills, MSM, Obamanomics, Obamoronics
Views: 14944
Comments: 21
Jobs are heading up and down at the same time. The Bureau of Labor Statistics announced the morning of Feb. 4 that only 36,000 jobs were added in the month of January, but the unemployment rate dropped from 9.4 percent to 9.0 percent. The mainstream news media will likely latch on to the dropping unemployment rate, despite job gains that were less than one-fourth of the consensus estimate of 148,000 jobs added. One of the CNBC panelists noted that the increase was "way below consensus." CNBC's Rick Santelli even lashed out at some of the CNBC "Squawk Box" panel that were discussing the latest jobs report. "[W]e have overwhelming evidence the jobs market is disappointing, and all of you are trying to look for that one half of spaghetti in a 50 lb. spaghetti bowl. This is not great data," Santelli claimed. "We know that the U6 probably gives you a better indication of the true unemployment rate …" CNBC's Steve Liesman interjected: "It went down, Rick. It went down - " "Yeah, what is it?" asked Santelli. "It went down Rick, to 16.1 [percent]," Liesman said. "Oh boy, guys! 16.1 [percent] is probably the unemployment rate. That's cause celebre," Rick sarcastically shouted on the trading floor of the Chicago mercantile exchange. "But it fell from 16.7," Liesman insisted. Santelli continued to criticize the spin: "You know what Steve? You and I both know that the unemployment rate, the labor force moving in and out, those giving up, is really probably your best statistical reason for the drop to 9.0 (percent). And in terms of jobs, you, Mr. Steve Liesman, said if you work just one day. If you stay home but you get paid you're counted in the data …" "Right - it shouldn't be weather," Liesman acknowledged. Some of the panelists including Moody's economist Mark Zandi had blamed weather for drops in construction and other sectors. "So this is probably less distorted," Santelli concluded. But the fact that the two different economic surveys conducted by the BLS were moving in different directions was baffling to many. Even the liberal Economic Policy Institute noted on its blog that the picture was "muddled." "Given the confounding nature of this report, we will have to wait at least another month to see if the labor market is rebounding strongly," Heidi Shierholz wrote for EPI. CNBC's floor reporter criticizes 'kool-aid drinkers' for trying to find good news in the 'disappointing.
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#1. To: Happy Quanzaa (#0)
Which two surveys are moving in opposite directions?
RTA
Hello
Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson
What is clear - jobs moving up or down - the increase is small and if a decrease its a worrying trend. It shows that the focus of the Bush team's decision to bail out Wall Street banks was wrong and money should have been diverted to FDR New Deal job creating, etc. But that is water under the bridge - you can't time travel back in time and redo stuff. What the govt should now do is stimulate the economy by hiring people for public works. Tax the rich until they need to do porn like Paris Hilton to maintain their lifestyle. I don't care. The financial titans gambled with the peoples money and they need not be differed to any longer.
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
They're arguing over which number is less cooked? LOL. What a bunch of BS. REALITY is in blue, below: "There will be no more money when the U.S. dollar has no value, until that time we can keep printing more." -- go65, LF's answer to Ben Bernanke --
Hey LM...
Huh?
You take the weather our of the equation and the number comes in above trend. You'll see next month if the longer term forecasts pan out.
I asked you to source you chart, Erica. When you refused, I debunked that chart, Erica. It's why you put me on bozo.
RTA, read the article.
People put you on bozo because you are a site pest. Source the chart yourself by right clicking on it and go the the source address, stupid. Sourcing is the new talking point, I see. Why do you lefties always demand this and that? Get off your lazy Lycraspandex ass and do something for yourself for a change.
Well, [war's] got to do something for attention, his multiple personalities aren't speaking to him any more, and his imaginary friends keep finding excuses not to come over.
I did. All indicators were in the green. Nothing fell while something else rose.
Says the site pest...
Yeah, that is funny; but what really made me laugh was when Stoney made that thread saying the 'Sheriff' was back. I would say he is more like Captain Queeq than a lawman. (Herman Wouk's 1951 novel The Caine Mutiny)
Captain Queeg indeed! I'll have to remember that for future reference.
"Muzzies and commies ate my strawberries!"
Quite a resemblance to the "Weeper of the House"...
Never swear "allegiance" to anything other than the 'right to change your mind'!
I'd say he's more like that evil little kid Billy Mumy played in the Twilight Zone episode where he'd send anyone who disagreed with him into the cornfield, without that power, of course.
Oh of my favorite episodes...
Never swear "allegiance" to anything other than the 'right to change your mind'!
Spooky as hell, I thought.
That was based on a far better short story 'It's A Good Life' by Jerome Bixby. I think the episode had the same name, but of course on a TV episode budget and censorship they had to leave some of the best parts out.
#2. To: war (#1)
#3. To: war (#1)
#4. To: war, Happy Quanza (#1)
#5. To: Happy Quanzaa (#0)
#6. To: lucysmom (#3)
#7. To: Happy Quanzaa (#2)
#8. To: Godwinson (#4)
#9. To: Capitalist Eric (#5)
#10. To: war (#7)
#11. To: war (#9)
#12. To: Happy Quanzaa (#10)
#13. To: Rudgear (#11)
People put you on bozo because you are a site pest.
#14. To: Fred Mertz (#13)
#15. To: Ferret Mike (#14)
#16. To: Fred Mertz (#15)
#17. To: Ferret Mike (#16)
#18. To: Ferret Mike, A K A Stone (#14)
I would say he is more like Captain Queeq than a lawman.
#19. To: Skip Intro (#18)
I'd say he's more like that evil little kid Billy Mumy played in the Twilight Zone episode where he'd send anyone who disagreed with him into the cornfield
#20. To: Brian S (#19)
Oh of my favorite episodes...
#21. To: Skip Intro (#18)
"I'd say he's more like that evil little kid Billy Mumy played in the Twilight Zone episode where he'd send anyone who disagreed with him into the cornfield, without that power, of course."
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