The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Unexpectedly! Unemployment Hits 9.1%

Posted on | June 3, 2011 | 11 Comments

“U.S. hiring slowed dramatically in May and the unemployment rate kept rising, adding to concerns the jobs market will take years to heal as the economy remains weak. . . . . The jobless rate . . . unexpectedly rose to 9.1% . . .”
– Wall Street Journal

“May’s job gain was about a third of what economists had been forecasting. . . . ‘The economy clearly just hit a brick wall,’ said Paul Ashworth, chief United States economist at Capital Economics. ‘It’s almost as if it came to a complete standstill.’”
– New York Times

Why is it that economists — at least the “expert” economists who do all this forecasting for the media — have been so reliably surprised by bad news the past couple of years? And where do the media find these idiotic financial journalists like the guy who, as The Lonely Conservative notes, tried to blame U.S. unemployement on the Japanese tsunami?

It’s almost enough to make you think that the people who run the media are unusually stupid.

More at Memeorandum.

UPDATE: Republican presidential candidate Herman Cain just issued a statement:

While this administration promised job creation and an unemployment rate under 8 percent with the passage of the stimulus spending packages, based upon today’s unemployment report, the unemployment rate still hovers around 9 percent. We have yet to see the positive results from the billions of taxpayer dollars spent in that process.
Wednesday’s jobs figure shows only 38,000 new private sector jobs were created, a number significantly less than the projected 177,000 in previous forecasts. Experience has taught me that government cannot create jobs. Instead, government is responsible for creating a favorable environment for businesses to thrive and succeed.
If we are to fix this problem,we must focus our efforts on increasing access to capital and availability of new markets, adjusting unfavorable regulations for corporations and, in many instances, retooling and retraining our workforce.
It’s time we have a discussion about real job creation and what must be done to raise consumer confidence and create stability in the marketplace. Real results are needed now.

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Category: Economics, Herman Cain

Comments

  • http://www.facebook.com/people/Dan-Gillen/1366479171 Dan Gillen

    actually I came to a conclusion a while back that the majority of journalists are incredibly stupid.  Once the template to a story is set group think takes hold and all independent thought is frowned upon.  Though that could be a combination of laziness and a lack of critical thinking skills.  though I do enjoy watching as our monolithic media complex burns to the ground.  

  • DaveO

    One of the clearest signs of the End Times is an economist who is entirely correct. So I’m not packing my bags for the Rapture this month.

    As for the so-called journalists: I’ve noticed the quality of investigation and of writing/speaking has gone downhill since the establishment of centralized news memes from the DNC.

    Perhaps the major networks and newpapers should hire Civil Engineers: people who’s livelihood is governed by the discipline of reality, not prospect of a White House sinecure. Same goes for folks who hire economists: may as well go out and urinate all over their grandmother’s doilies: that act is as accurate in predicting the economic future as any other methodology.

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  • Anonymous

    It’s suspected by many that journalists suffer from a genetic predisposition to stupidity. In order for this theory to be validated those with the stupidity gene would probably also have to have a genetic predisposition toward becoming journalists. This theory IMHO is just another dingbat commie chimera intended to add stupid liberal journalists to the increasingly ridiculous list of medically recognized disabilities. The reason they find this necessary is the dawning realization that increasingly biased reporting, the sole purpose of which is to Bolshevise the country might at some point cease to provide a living.

  • K_Bob

    Times are tough. Even so, before planning a robbery, I suggest you consult with Mr. Of Spades.

    Don’t have a beverage in your mouth when reading it, though.

  • http://www.csmonitor.com/USA/Politics/2011/0601/Twitter-scandal-a-mess-for-Anthony-Weiner-a-lesson-for-Congress Anthony Weiner

    Given what I have been dealing with lately, the idea of unemployment is a little bit more tangible to me now. 

  • http://2011.ak4mc.us/ McGehee

    Those that can, do.

    Those that can’t teach.

    Those that can’t teach, study journalism.

  • http://twitter.com/oldrightblogger oldrightblogger

    Psh…. Like that greasy Herman Cain could do any better!  NIGGA PLEASE!

    I like my GOP white TUVM!

  • JeffS

    I always thought it went “Those that can’t teach, run for office.”

    But I can go with your way, McGehee.

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