6 replies to this topic

[questionmark]

Bloomberg said:

Jack Welch, writing on his Twitter account, said the Obama administration manipulated U.S. employment data for political gain by showing a drop in the jobless rate.

“Unbelievable jobs numbers..these Chicago guys will do anything..can’t debate so change numbers,” the former General Electric Co. (GE) chief executive officer said in a message posted immediately after the U.S. Labor Department reported that the unemployment rate fell to 7.8 percent last month, the lowest since President Barack Obama took office in January 2009.

The Obama administration denied the allegation as baseless and defended the U.S. Bureau of Labor Statistics, which computes the figures. Alan Krueger, chairman of the White House Council of Economic Advisers, told Bloomberg Television that Welch’s remark was “irresponsible.”

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[ninjadude]

who?

[supervike]

Some uber rich white guy who probably has never HAD to work in his life cares about unemployment?


Or he cares about what it does to his beloved party?

[Mr. Smith]

supervike, on 06 October 2012 - 01:36 AM, said:

Some uber rich white guy who probably has never HAD to work in his life cares about unemployment?


Or he cares about what it does to his beloved party?

He's not my favorite person in the world but he was a very intelligent workaholic. His parents were middle class. I think all that money and power shut down the human part of his brain. Fairly common in wealthy old people.

[questionmark]

in related news:

Bloomberg said:

Jack Welch, the former chief executive officer of General Electric Co. (GE), will stop contributing articles to Fortune after backlash to his Twitter post suggesting President Barack Obama’s team manipulated U.S. employment data to give the president a boost.

Welch sent an e-mail to Fortune Managing Editor Andy Serwer saying he and his wife, Suzy, would no longer contribute material, according to Fortune’s website. Welch’s message, also sent to Steve Adler of Thomson Reuters, said the two were terminating their contract with that news service.

In the statement, confirmed by Welch’s assistant, Roseanne Badowski, the former CEO said that he and his wife were planning a piece in the Wall Street Journal.

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[supervike]

This is clearly an attempt by Welch to get on the Unemployment dole and make the President look bad....

[questionmark]

in related news:

Bloomberg said:

It isn’t only the federal government’s Bureau of Labor Statistics that is issuing surprisingly good news about the U.S. economy these days.

If former General Electric Co. Chief Executive Officer Jack Welch’s charges of a political fix to manipulate economic data ahead of the presidential election are true, there must be a vast econometric conspiracy embracing auto dealers, real estate agents, the Federal Reserve and corporate America’s 96-year-old Conference Board.

The economy is improving more than professional forecasters anticipated, particularly in data on employment and housing, according to the Bloomberg Economic Surprise Index, which compares 38 indicators with analysts’ predictions. The index, based on gauges compiled by private businesses and trade groups in addition to government, confirms U.S. growth is generating jobs in the face of a global slowdown and looming federal spending cuts and tax increases known as the fiscal cliff.

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