The Media and their Incredible Discreditable Statements Thread

Rolling Thunder said:

'The job market is now in complete collapse.' - NBC: The Early Show

Really? 6.5% unemployment is a complete collapse? What about the other 93.5% that are employed? Math was never my strong suit.

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According to ShadowStats, it's just short of 16%, still not a complete collapse but much worse than FedGov lets on.



ShadowStats explanation: (yes, I see the word 'SGS-estimated') This page has a more thorough explanation of how the estimate is derived.

The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated "discouraged workers" defined away during the Clinton Administration added to the existing BLS estimates of level U-6 unemployment.

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There are several other charts on the same page worthy of review.

When Ronald Reagan took office, I think the unemployment rate was 9.3%. As I recollect, that was closer to total collapse than this. 6.5% is not a good stat by any means, but hyperbole is the flavor of the month with most of the media. It will be interesting to see what kind of effect this holiday season has upon our economic factors. I heard this morning that this is a 'make or break' season for retailers. We'll see if consumers have had enough of their faith restored to indulge in the normal holiday orgy of spending too much.

mscelina said:

When Ronald Reagan took office, I think the unemployment rate was 9.3%. As I recollect, that was closer to total collapse than this. 6.5% is not a good stat by any means, but hyperbole is the flavor of the month with most of the media. It will be interesting to see what kind of effect this holiday season has upon our economic factors. I heard this morning that this is a 'make or break' season for retailers. We'll see if consumers have had enough of their faith restored to indulge in the normal holiday orgy of spending too much.

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Ha. Not in the Cranky house, we ain't.

But I'm still glad that the DH is in a fairly recession-proof job. *crosses fingers*

*shrug*

I'm shopping from my shop inventory this year. Antique books for everyone!

Every year we say Christmas is going to be smaller, the kids have enough crap, etc - esp. since Jersey Guy usually works steadily, but his layoffs can st-t-t-r-r-r-e-e-e-t-t-c-c-h-h- out (he's a pipefitter) - and every year, I manage to cut back (my bro and I now do gifts for each other's kids instead of gifts for all of us)

And Jersey Guy (who loses sleep if the bills aren't out at least a week before their due date)? He goes NUTS.

I'll cut back. He won't. It balances out in the end, I guess...

That's my kind of Christmas, and you say it like it's a bad thing. *boo hoos*

/derail, bad Arby

I will say that I don't really have any frame of reference for comparison. I was just a little kid when Reagan was in office, and being the child of a single mother meant that were pretty damn poor anyway. I was a bit older when Clinton took office, but again, so poor that I just...meh.

Anyway, I guess this whole unemployment thing should scare me more than it does. But I know from experience that while it sucks, it ain't the end of the world, nor will it last forever.

I hope not - when the economy slows, construction slows... we hold our breath every time a layoff comes around. I would assume union workers fall into that national avg, since they collect during layoff, but I can't be certain because things are a little different for them.

mscelina said:

*shrug*

I'm shopping from my shop inventory this year. Antique books for everyone!

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How can I get on your Christmas list? Do I get to indicate a category preference?

MM

LOL! You'd be surprised how few people ask me that.

MaryMumsy said:

How can I get on your Christmas list? Do I get to indicate a category preference?

MM

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I wish I'd thought of that. Now I'd just look greedy.

Got any first-edition Heinlein?

For sale, perhaps. After all, the economy is on the verge of complete collapse. A girl's gotta do what a girl's gotta do...

mscelina said:

For sale, perhaps. After all, the economy is on the verge of complete collapse. A girl's gotta do what a girl's gotta do...

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Please don't tell me if you do. Travelling full-time in a fifth-wheel leaves very little room for such treasures, and it will only eat at me that I can't have what I want.

*zips lips*