An open letter to CNBC's Steve Liesman
I am swamped at work today, but I was irritated enough with what I heard on CNBC this morning to quickly blast out the following e-mail to CNBC's "Senior Economics Reporter" Steve Liesman using its general mail system. If anyone knows how to get his direct e-mail address I will send it there as well:
"Attn: Steve Liesman.
Subject: Productivity, how could you be so clueless?
This morning on XM's simulcast of CNBC I heard Steve Liesman discussing the recent increase in the government's reported productivity numbers. He stated that he doesn't think that people are being forced to work harder. How is it possible that CNBC's senior economics reporter is so out of touch with what is happening in the real world?
If the recently reported gains in worker productivity are not coming from people being forced to work harder for no additional pay, they where on Earth are they coming from? Everyone who I know is being squeezed by their employer right now. Companies have laid off so many people and are running such lean operations that just about everyone that I know who is on straight salary at a myriad of different companies from paper companies, to automakers, to food distributors, to banks, in every possible field from human resources to analysts are being forced to work crazy hours for no additional pay.
People in the real world are being forced to work through lunch, work until 7, 8, 9 at night, work from home on laptops in the evening, etc... Working as a puppet for the Fed must be a nice cushy position, but real people are being squeezed. Good grief man, just look around you and see what has been going on.
I'm not a permabear who thinks that we're all doomed, nor a Fed hater, just a real person who sees what is really going on out there. With reporting like this, it's no wonder that CNBC's ratings are dropping. I switched to Bloomberg radio / television a year ago and I don't know why I didn't make the switch sooner. When's Joe coming back from vacation? He doesn't know any more than anyone else, but least he's funny.
I doubt that I will hear back from you, but please feel free to e-mail me back at XXXXXXX"