Jan payrolls up 243k
Dec revised upward 203k
Nov revised upward 157k
John Boehner on cry watch!
Booyah!
Dec revised upward 203k
Nov revised upward 157k
John Boehner on cry watch!
Booyah!
Thar be much wailing 'n gnashing of teef at zerohedge
- Thread starter Covertibility
- Start date
Right-Wing Media Rely On Discredited Evidence To Dismiss Positive Jobs Report
A lot to read but tack this on to another thing the republican mind can't do right, reading comprehension:
So today following an otherwise pretty darn good jobs report, we get the usual perma-pessimists at Zero Hedge and Rick Santelli over at CNBC proclaiming that the report showed a drop of over 1 million people from the labor force in one month. Of course, as ususal, both Santelli and Zero Hedge have a real reading comprehension problem and completely missed that this million+ people isn't some new January phenomenon, but a result of the BLS using the 2010 census data to have more accurate data. In other words, the changes in the Household Survey to the various measures had taken place over the years prior to 2010, but for simplicity's sake, the BLS incorporates these changes into one month (which they clearly point out).
[...]
[T]he fact is 1 million people did not drop out of the labor force in January 2012. [The Big Picture, 2/3/12]
--------------------
Frightwing media at it again with corrupt, phony, conspiracy (allen west said this) numbers..... It must've been a heckuva Limbaugh program on Friday with the usual kooks calling in with the conspiracy theories and whatnot.
A lot to read but tack this on to another thing the republican mind can't do right, reading comprehension:
So today following an otherwise pretty darn good jobs report, we get the usual perma-pessimists at Zero Hedge and Rick Santelli over at CNBC proclaiming that the report showed a drop of over 1 million people from the labor force in one month. Of course, as ususal, both Santelli and Zero Hedge have a real reading comprehension problem and completely missed that this million+ people isn't some new January phenomenon, but a result of the BLS using the 2010 census data to have more accurate data. In other words, the changes in the Household Survey to the various measures had taken place over the years prior to 2010, but for simplicity's sake, the BLS incorporates these changes into one month (which they clearly point out).
[...]
[T]he fact is 1 million people did not drop out of the labor force in January 2012. [The Big Picture, 2/3/12]
--------------------
Frightwing media at it again with corrupt, phony, conspiracy (allen west said this) numbers..... It must've been a heckuva Limbaugh program on Friday with the usual kooks calling in with the conspiracy theories and whatnot.
Meh. ZH serves a purpose even if they're wrong sometimes.
Sure beats believing everything pumped out by the glee club in the MSM.
Sure beats believing everything pumped out by the glee club in the MSM.
Steve,
Wholeheartedly agree, which is why I was an avid ZH follower.
Problem is, when they display the same consistent bias, only in reverse, then their credibility follows the same path as that of mainstream medias.
Quite frankly, I don't rely on financial websites for political advice. I don't really care much for political advice in the first place, not being a very political person myself. But more importantly, I learned long ago that bringing in your political/religious/social/whatever bias in investing was toxically hazardous to your financial health. Dogmatic trading weds you to your positions, which is an expressway to the poorhouse.
Wholeheartedly agree, which is why I was an avid ZH follower.
Problem is, when they display the same consistent bias, only in reverse, then their credibility follows the same path as that of mainstream medias.
Quite frankly, I don't rely on financial websites for political advice. I don't really care much for political advice in the first place, not being a very political person myself. But more importantly, I learned long ago that bringing in your political/religious/social/whatever bias in investing was toxically hazardous to your financial health. Dogmatic trading weds you to your positions, which is an expressway to the poorhouse.
I don't believe everything on ZH. But I'm still voting for Ron Paul anyway, even if I have to write his ass in.
ZH and Prechter influenced me to not go long that glorious bull market two years ago. Then there was this guy RobotTrader - an automated trend follower, who kept pointing out the obvious, much to the irritation of the doomers. He would post these simple charts with nothing but price and one moving average. It seriously pissed people off.