OUR VIEW

As we skirt around the web reading various and sundry articles it becomes increasingly clear nearly everyone has a pick to bone. Yea, we know that's a play on an old cliche' and we're not embarrassed in the least.
 

Take the recent job numbers MSM sought to rave about as did many economists and the administration. 

The more one learns about economists, the more one realizes how straight out, goofy benighted most are. But we'll get to that on another occasion.

Mort Zuckerman is a billionaire. He's a liberal and he's a prominent editor. He is also a graduate of the University of Pennsylvania and Harvard Law School and a Canadian born, American business tycoon.

Here's a quote from a Washington Post story about him late last year.

Mortimer Zuckerman, 76, is known for being a regular on the political talk show “The McLaughlin Group”and for owning such media properties as the New York Daily News, U.S. News & World Report and the Atlantic Monthly, the last of which he sold to Washington businessman David Bradley for about $10 million in 1999.

But he made his fortune, estimated at more than $2 billion, buying and constructing office buildings. He is the founder and chairman of Boston Properties, a publicly traded real estate investment trust with 138 properties, many of them in the Washington market. His is one of the most respected minds in the real estate business.

To assume Zuckerman is not well-connected enough to get a better scoop on the jobs numbers is to assume that New York City officials love Walmart. In case you don't know, they don't. Recently, Zuckerman penned an article for the Wall Street Journal questioning those fine figures, raising the question MSM loves to dodge at every turn, of why so much ado about what is essentially a bogus report getting bogus kudos.

Here's a quote from Zuckerman's article.

The Obama administration and much of the media trumpeting the figure overlooked that the government numbers didn't distinguish between new part-time and full-time jobs. Full-time jobs last month plunged by 523,000, according to the Bureau of Labor Statistics. What has increased are part-time jobs. They soared by about 800,000 to more than 28 million. Just think of all those Americans working part time, no doubt glad to have the work but also contending with lower pay, diminished benefits and little job security.

On July 2 President Obama boasted that the jobs report "showed the sixth straight month of job growth" in the private economy. "Make no mistake," he said. "We are headed in the right direction." What he failed to mention is that only 47.7% of adults in the U.S. are working full time. Yes, the percentage of unemployed has fallen, but that's worth barely a Bronx cheer. It reflects the bleak fact that 2.4 million Americans have become discouraged and dropped out of the workforce. You might as well say that the unemployment rate would be zero if everyone quit looking for work.

This may seem a bit petty and if MSM and their apologists for this administration had their way, that's how it would get dealt with. But there's more to it here, particularly if you're an investor who invests his capital seeking some kind of return.

Government figures you can't trust is a government you can't trust. And that, my thirsty friends, applies to governments left, right or straight ahead down the middle..  

That's our view. We hope you know yours.
t. man hatter

http://online.wsj.com/articles/mortimer-zuckerman-the-full-time-scandal-of-part-time-america-1405291652