mikelally.net

Just read the first two paragraphs of an article from today’s NYT: “Job Losses Slow, Signaling Momentum for a Recovery.” This is an attention grabbing headline – that is NOT supported by the data and commentary in the article!

Recovery is under way they claim even though were still losing 250,000 jobs a month! That is a HUGE number. Huge. But it was lower than last month so boom times are here again!

More good news..the unemployment rate dropped to 9.4% from 9.5%. But….but!….wait for it….that happened because people have dropped off the list!!! They’ve been unemployed so long that they are no longer receiving benefits.

Again…don’t be fooled by that 9.4% number. The true jobless number is probably closer to 15% or 20%. Once you start adding the various counting methods together.

And if you just take that 9.4% number alone….I am willing to bet that it is closer to – if not over – 10%. But we can’t show 10% because that will cause a MAJOR panic.

I’m not really an anarchist….but I think we need to get honest with ourselves. And I am really disappointed in the NYT. I expect better writing. Better reporting. And not propoganda.