Friday, November 03, 2006
Revised Employment numbers
I have a little break here so I checked out the financial news. The big story of the moment was the employment numbers. Lower than expected but offset by a huge revision in the numbers for the last two months. What's huge? How about employers added 148000 new jobs instead of the 51000 first reported for September and from 188000 to 230000 in August. Now that's a big revision. Why bring this up? After all the idea fields just don't get more fertile than they are right now. I mean how about the juicy story about the Christian conservative leader alleged to have been involved in gay sex and drugs. And he has already partially implicated himself while being interviewed in his car with his wife next to him and his kids in the back seat. This by a guy whose supposed to be moral by definition right. Head of an evangelical church. Can you imagine. But, to me the revision numbers are far more important. Why? Because it points to the more insidious problem. I'm going to say this but don't think that he embodies what I believe in. He had his strong points and I like to give credit where credits due. I'm talking about Ronald Reagan who quite famously said " Government is not the solution to the problem, Government is the problem''. I think day in and day out we forget this. The timing of the release of the employment news becomes suspicious. When you come out shamelessly with a revision of that magnitude with an election around the corner, it's not much of a leap to believe your capable of far worse. It destroys any confidence and therefore trust in the agency that is responsible for it . Of course the ole' power of positive thinking comes to the rescue and allows us to believe once again that this is an isolated case even though the evidence strongly suggest otherwise. My trust in government keeps reaching lower lows. Denial is bliss.
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