Tuesday, July 06, 2010

Gaga Over Recession Worry

by John Crudele - July 6th, 2010 - New York Post

Let me explain a bit about the concept of a "double dip" recession, which has been getting as much publicity as Lady Gaga.

The economy, as you know, hasn't been behaving itself lately -- also kinda like Ms. Gaga. Just when we think business conditions are going to start acting more ladylike, the economy shows you its butt end and raises a middle finger.

It happened again on Friday when the Labor Department announced that 125,000 jobs were lost by the US economy in June. Most of the loss was because the 2010 Census is winding down, but the number of new private sector jobs was also abysmal.

President Obama quickly rushed to the cameras -- as politicians often do -- to explain that even with the May dip we should be grateful that we've had five straight months of job growth.

You shouldn't be grateful.

In fact, you should be angry -- not only about the poor performance of the job market (and I'll get to the misleading notion that we've had five months of job growth in a moment) but also because you are being conned.

The most valuable information in this article is where the writer points out that un-adjusted information does not show any job gains except for temporary census workers. The one million new jobs that Obama touts are jobs Obama's bureaucrats think were created but for which no evidence exits. Last year all of these upward adjustments were proved to be fictitious lies and they ultimately were restated downward to reflect the reality. They are fictitious lies now. They will be restated downward later and Obama will never take note of the restatement.

There have been no job gains except for the federal government adding new bureaucrats to terrorize citizens and make them behave the way the Obama tyranny thinks they should behave. That is why anyone who cares about America should be outraged.


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