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Bruce Enberg's Commentary

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Eighty big corporate CEOs are issuing joint statements through Murdoch's Wall Street Journal about the dangers from Congressional inaction on the fiscal 'crisis'. They talk down the economy, they are making announcements about layoffs, highlighting below expectation earnings, and generally spreading panic based on Congressional inaction on the 'fiscal cliff'. Just before the election, coincidence?  Probably not. Nothing about the 'fiscal cliff' requires immediate action, they aren't laying off people because of it, if they are really laying off people at all. Demand creates jobs, not corporate CEOs.

 

It doesn't matter what the 'lame duck' Congress or the President does right now about any of 'fiscal cliff' items. The Republicans demanded it be set up this way, when they were holding the country hostage over the debt ceiling. They would have had 'the fiscal cliff' happen on election day, but that would have been too obvious politics even for dull witted 'independent' voters. They just pretended that everything would 'magically' come to a head at the end of the year. Pssst, the fiscal year ended September 30th. The real concern is who will be making the decisions at the end of January, when it counts for the next two years.

 

Last Updated on Friday, 26 October 2012 18:32 Read more...

October Surprise?

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The Dow dropped 200 points today on 'below expectations' earning from McDonalds, GE, Google and others. It also happens to be the anniversary of the 1987 crash, the biggest since '29. Who was President then? (The Sainted Reagan) Today's drop wasn't a significant event, given the size of the market number, but you wouldn't know it to listen to the media.

 

The thing you have to remember is that the term 'below expectations' means that the companies are actually doing well and making huge profits. They just didn't meet an arbitrarily contrived number issued by market 'analysts'. You can bet that the Republicans will be screaming "economic collapse!" based on nothing of consequence.

 

Last Updated on Saturday, 20 October 2012 11:09 Read more...

The Conspiracy Widens

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Initial unemployment claims dropped by 30,000 last week to a four and a half year low. That's a lot of out of work people participating in the Muslim-Kenyan-socialist-anti colonial-fascist-liberal plot to destroy America by not filing for benefits in order to rig the unemployment number.

 

Layoffs are of course the result of employer action (quitting your job doesn't count), the employers that are, according to Romney, either lacking confidence (despite record profits and $5 trillion cash on hand) or going broke. Willard claimed in a stump speech that 1.4 million small businesses have filed bankruptcy, the real number is around 43,000. Willard was just having a Bain fantasy moment, even he hasn't destroyed that many businesses.

 

Leveraged Buyout Specialists like Mittens have destroyed 250,000 factories since Reagan de-criminalized the practice. This number doesn't include small businesses with under 50 employees that serviced the larger factories that the Pirate Capital operations like Bain have looted. Maybe Willard knows his career number really is 1.4 million, it's a little mental trophy he keeps. Just like any serial killer who keeps lockets of hair.

 

Last Updated on Thursday, 11 October 2012 11:54 Read more...

Numbers are just a Theory

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The Numbers Deniers claim that the unemployment rate dropping below 8% is a vast government conspiracy orchestrated by the Muslim-Keyan-socialist-liberal-anti colonial-fascist in the White House. Their proof, the report was created using Arab 'numerals', we all know that real Americans would use Chinese made 'numerals' bought at Walmart.

 

To understand what is really going on requires some background, the initial jobs reports that come out each month are based on surveys, and are revised later as more data comes in. The job creation number is based on an employer sampling survey, and this number can be way off

from reality if the growth or decline is concentrated in a particular area.

 

Last Updated on Saturday, 06 October 2012 11:31 Read more...

Counting with Count

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Big Bird was an Angry Bird today. He had his friend Count crunch the numbers and they don't add up. He counted 27, 27 big lies in Mr Romney's debate performance in just 36 minutes. Big Bird isn't happy that the bad man bullied his friend the nice Mr Lehrer either.

 

It makes Big Bird sad that 72 million people with pre-existing health conditions will lose their insurance if the bad man gets to be President. (72 million was a big number for Count to count) The bad man says that won't happen because he said so, but the bad man's own spokesman said right after the debate, it isn't possible for the bad man to do that, it would be up to states to do that. States that never did that before.

 

Last Updated on Friday, 05 October 2012 12:00 Read more...

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