Wednesday, June 3, 2009

The White House "Jobs-Saved" Deception

Market price actions can be easily manipulated, however, the reality remains.

This is what I was referring to that "Spending more debt" is not creating Jobs, it is only delaying a deterioration of real wealth disaster.
http://www.cnbc.com/id/31063979/
After nearly twenty years in Washington I thought I've seen every trick ever conceived, but the White House claims of "jobs saved" attributed to the stimulus bill is unrivaled. What causes the jaw to drop is not just the breathtaking deception of the claim, but the gullibility of the Washington press corps to continue reporting it. ....

There is only one necessary data point to make the "jobs-saved" claim: an accurate measure of expected employment levels in the future. That baseline data is critical to measure what the employment level would be in the absence of the stimulus. Unfortunately for the White House, they cannot possibly know that measurement within any degree of confidence -- and they know it. >>>

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