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Good economic news for Obama? Some conservatives insist it can't possibly be true

 
smilesun
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User ID: 25007613
Italy
10/05/2012 04:00 PM

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Good economic news for Obama? Some conservatives insist it can't possibly be true
Meet the Incredible, Incoherent Jobs-Report Truthers

Good economic news for Obama? Some conservatives insist it can't possibly be true.

Today's jobs report was good. Not beat-the-world, America-is-back good, but pretty good: The economy added 114,000 jobs, almost exactly hitting the expected 115,000; the unemployment rate dropped to 7.8 percent; and revisions to previous months showed the economy was doing better than it initially appeared over the summer. For those who are pessimistic, or who back Mitt Romney and want to portray the economy in its worst light, there's plenty to be unhappy about: Millions of Americans are out of work, GDP growth is slow, and the global economy remains precarious. That's the tack the Romney campaign took in its response, saying the growth just isn't fast enough. "This is not what a real recovery looks like," Romney said in a statement.

Or you could just make stuff up.

A surprising number of commentators on the right seem to be doing just that Friday morning -- and not just the anonymous Internet types who buy into voodoo like unskewedpolls.com. Some of the brightest lights in the business world and conservative commentariat have gone into a conspiracy-mongering overdrive (along with the usual conspiracy theorists). Take Jack Welch, the former CEO of General Electric, who said the following on Twitter this morning:
[link to www.theatlantic.com]
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Anonymous Coward
User ID: 25023973
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10/05/2012 04:04 PM
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Re: Good economic news for Obama? Some conservatives insist it can't possibly be true
Great economic news. Op, you should add a link about QE3. That would be a hoot, wouldn't it?
<<FOCUS>>
User ID: 660580
United States
10/05/2012 04:09 PM
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Re: Good economic news for Obama? Some conservatives insist it can't possibly be true
That's because it isn't

Economists are coming out of the woodwork saying the numbers don't add up. The Wall Street Journal said to take it with a grain of salt and that's a quote.

Sad that Obama is self destructing. Sad for him, great for America.
Anonymous Coward
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10/05/2012 04:10 PM
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Re: Good economic news for Obama? Some conservatives insist it can't possibly be true
I don't think it will make a difference.
smilesun (OP)

User ID: 25007613
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10/05/2012 04:15 PM

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Re: Good economic news for Obama? Some conservatives insist it can't possibly be true
Great economic news. Op, you should add a link about QE3. That would be a hoot, wouldn't it?
 Quoting: Anonymous Coward 25023973


My career in the financial markets began as a so-called "Fed Watcher" in 1979. My job evolved into analyzing Federal Reserve (Fed) actions and what they meant for the money markets and the economy.

I was fortunate enough to enjoy some success and was asked on a number of occasions to give speeches on how the Fed operates.

One aspect of my standard speech was to explain how money supply is created. I explained that money supply, as defined, consists primarily of credit and not paper money - and that credit creation is the result of private banks making loans.

I typically added that, in the US, the government does not increase money supply by engaging in simply printing money or buying debt. That is anathema to central bankers and a policy only for desperate undeveloped countries.

Until now.

Suddenly, the Federal Reserve Bank of the US is engaging in action I never thought I would see in this country. [link to www.briefing.com]
smilesun (OP)

User ID: 25007613
Italy
10/05/2012 04:29 PM

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Re: Good economic news for Obama? Some conservatives insist it can't possibly be true
That's because it isn't

Economists are coming out of the woodwork saying the numbers don't add up. The Wall Street Journal said to take it with a grain of salt and that's a quote.

Sad that Obama is self destructing. Sad for him, great for America.
 Quoting: <<FOCUS>> 660580


Self-destruct than Obama? Obama and his ilk are determined to force this country down the path of socialism at best and perhaps Marxism at worst?

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