It’s déjà vu all over again with the ADP National Employment Report showing that “Private-sector hiring slowed again in April as companies added the fewest employees in seven months, the latest sign the economy is encountering a soft patch.”
ADP wrote that: “Businesses added 119,000 employees to their payrolls last month, falling short of economists' expectations for a gain of 150,000 jobs. It was the smallest gain since last September.”
Now, although the number's are no surprise to me, whereas the administration's purposefully blocked off every avenue to recovery there is, I found an interesting item by Jeff Cox, CNBC.com Senior Writer via Drudge, titled: 'Real' Jobless Rate Still Above 10% In Most States.
According to Mr. Cox, “Two months from now, revised government estimates are likely to show that the economy is even bigger than the currently stated $15 trillion.”
However, what’s most fascinating is how and why the administration wants the revision done.
”According to Michael Pento, founder of Pento Portfolio Strategies, “It shouldn't come as a surprise they are going to change the way this number is reported. [Because] "When GDP numbers are chronically bad -averaging just 1.45 percent in the last two quarters- and the labor force participation rate is perpetually falling, our government will do the same thing they did for the inflation data—tinker with the formula until you get the desired result."
Samples of the “new math” include, adding research and development spending, as well as the capital value of all books, movies, records, television programs and plays produced since 1929.
While the raised revisions will, of course, increase the economy's size, they'll also skew the ratio of debt to GDP, an important element in determining government spending. And Mr. Pento's last thoughts sadly contain the really disturbing truth of the matter: "The fact is that the U.S. economy isn't growing fast enough to significantly
increase the revenue to the government, but our debt is still soaring. It's a shame they won't just implement real measures to grow the economy
like reduce regulations, simplify the tax code and balance the budget."
There’s a considerable amount of interesting information in the article, so here’s a link: Real' Jobless Rate Still Above 10% In Most States
And then, I had to include this next one, when I stopped laughing long enough to start typing again.
According to The Hollywood Reporter, also via Drudge: “Al Gore Rocks Crowd With Global Warming Speech.”
The article began by stating that “Al Gore, one of Hollywood's favorite sons because of his commitment to the environment, rocked a large crowd in Beverly Hills on Tuesday with an impassioned plea to solve the "climate change crisis," part of which is getting media right.”
Then it continues: “But he was most animated, his voice pitching higher and lower and the volume steadily increasing, when he spoke of global warming. "This is for real. It is not made up. The scientists are not in a conspiracy to lie to us." Gore nearly shouted.
Now, I’m not surprised that show-business types, most of whom have lower IQ’s than tree stumps, are awed by Gore, especially when sitting in Beverly Hills where the temperatures always around 75. But I would think that even they’d be capable of reading a paper or watching the news and comprehend that we’re not only in the midst of the second coldest spring ever on record, but its still snowing in parts of the nation.
So, I have to repeat myself once more, whereas its appropriate and also because the image is perfect.
What I said way back then was that AlGore reminds me of Saddam Hussein’s media spokesman who was broadcasting live from Baghdad, reporting that their side was winning the war and not to worry. And while he was still talking, U.S. Marines walked in, picked him up and carried him out by the ankles and elbows and threw him into a waiting van outside.
And that, I believe. will be very similar to AlGore’s final scenario as he barks and bellows about global warming’s threat, while being buried up to his nose in an early May snowdrift.
That’s it for today folks
Adios
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