Media Manipulation Continues When Discussing Job Market
I was watching the CNBC this morning waiting for the countdown to 8:15am when ADP announced their estimates of job losses. You would think that job losses would be one area where the media can't manipulate it into a positive. Well I guess I was wrong again!
371,000 jobs lost in July which is actually worse than the MEDIAN of estimates earlier in the month by 26 economists.
But that isn't bad because:
Reporter 1: "It is less than last month"
Reporter 2: "Well last month ADP's estimate was actually 10,000 more than actual results"
Reporter 3: "Hey look I see a 'V', that must mean we are going to rocket up in the coming month"
I think none of these people I see on TV ever visit any city other than their own. I have seen more store closings, town vacancies, and yard sales than I ever have in my life. Our company which was hiring people like crazy just a year ago has now stopped somewhat.
How high you think unemployment will reach by end of year? I think 11%+. How about you?