Thursday, February 10, 2011

Another View On
Why There Is
No Robust Job Growth

by John Crudele - February 10th, 2011 - New York Post

The economy should be creating jobs.

That, anyway, is what everyone says. President Obama thinks that. And so does Federal Reserve Chairman Ben Bernanke, every Wall Street economist and all the unemployed folks sitting around Starbucks logging on to

But jobs aren't being created -- at least not nearly enough by even the most forgiving definition of an economic recovery.

Even if last Friday's disclosure by the Labor Department that only 36,000 new jobs appeared in January was flawed on the pessimistic side (as I showed in my last two columns), private measures of employment aren't showing a labor market that is even the least bit robust.

So what gives?

As this article notes, there is evidence that even the fairly dismal report Obama is selling as good news is false bravado based on cooking the books. Inflation is understated and reported as if it was increased consumer spending. A lie. A bizarre drop in imports is ignored to make the economy look better too.

Instead of the rosy outlook Obama is reporting, a realistic look at fourth quarter numbers gives increased credibility to those who are reporting a probable double dip recession is under way. So maybe it isn't that those "evil capitalists" are just sitting on profits to screw the "workers of the world." It seems more likely that business leaders are simply paying more attention to the fraud underlying the claims coming out of the White House than the gullible MSM .


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