CNBC’s Rick Santelli on the Obama Job Recovery (Obamanomics) … Blasts Liberal Media’s “Ostrich Economics”
MORE MSM BIAS … CARRYING THE WATER FOR BARACK OBAMA …
CNBC’s Rick Santelli provides a lesson in telling the truth to the liberal main stream media regarding the disastrous Barack Obama jobs numbers. Santelli blasted the MSM for purposely and willfully misleading the American public by just saying that the unemployment rate was reduced to 8.1%. Santelli dubbed it “Ostrich Economics”. Honestly, it is criminal what the liberal MSM is doing and shilling for Barack Obama and his failed Obamanomics. The media complacency and yes, conspiracy, of continuing to carry the water for Obama is an outrage. Does anyone think that the MSM would be so quiet and not investigating the details of the numbers if this terrible job recovery was taking place under George W. Bush or any other Republican President?
There are some highlights I’d really like to hit. The first one is that about 41.3% of unemployed have been unemployed for 39.1 weeks. That is huge and pretty much says it all. This is the weakest recovery since the Great Depression. A whole 4/5ths of the drop of the unemployment rate is due to a drop in the labor force participation. It is the lowest since 1981.
Many of regional news shows were reporting on just the unemployment rate. That’s “ostrich economics.”
The MSM will lie, cheat and steal so to see Barack Obama win reelection in 2012. Look for the unemployment rate to go below 8% leading up to the 2012 reelection and the MSM touting it as a success for Obama, when the reality is that there are a record number of Americans no longer in the work force.
Sorry, but the real unemployment rate as reported at Zero Hedge in the United States is 11.6%. Anyone think that Barack Obama and his shills in the MSM would ever report that?
The implication is simple: using a real labor force participation rate long-term average of 65.8%, the real unemployment rate in April was 11.6%, based on the 5.4 million additional workers that should be counted as part of the U-3 which then means that the real number of unemployed is not 12.5 million but 17.9 million, which in turn implies a 11.6% unemployment rate in the US. This also means that the spread between the propaganda, and the real number is now 3.5%: the most it has been since the early 1980s.