Friday, December 4, 2009

Friday Open Thread

Get it off your chest.


  1. Change in unemployment rating from 10.2% to 10% within statistical margin of error.

  2. Ms. Smith arranged the meeting, refused to provide any details and defended the closed-door nature of the gathering.

    "The meetings, just so far as the council meetings go, they are just called council briefings," she said. "They are scheduled with no more than four members at a time, which doesn't form a quorum, and they're able to meet in that fashion."

    Read more:

    Nice to know we have a freshman politician who openly violates the spirit of the Sunshine Act over such an important and unique situation between ourselves and the future of our local economy's revival. Neener neener neener, she says...

  3. The trib reported who did and did not attend the meeting!

    "Council members Payne, Theresa Smith, Darlene Harris, Jim Motznik and a representative of Councilman Ricky Burgess met with Mary Hines, head of the Pittsburgh Council on Higher Education and president of Carlow University in Oakland, and Point Park University President Paul Hennigan, according to Payne."

  4. So the Mayor popped in to Council chambers today to sit and talk about the budget, just like people! He seemed to do a pretty good job too.

    Didn't really have a good answer for Dowd's questions about the Fund No Longer In The Nature, but that's asking a lot.

  5. The BLS numbers are in a statistical margin of fraud!

    Did you catch October's statement that they overestimated employment by over 800,000 over the last year?

    But, they won't count that on the books till February.

    Even worse-- the main thing they got wrong which is known as the "birth death adjustment." they continue to overestimate.

    The birth/death number attempts to guess at how many new businesses are being born and dying and how many jobs they are creating or losing.

    Given all the other publicly available data from, bankruptcy filings to state and federal tax reciepts it has been very clear how badly small businesses have been doing. Yet they have still been adding in fake imaginary numbers to their data showing small business job creation.

    In the last month they added in 30,000 jobs from the "birth/death adjustment.

    The other trick is that they continue to shrink the labor force by saying people who haven't looked for work in the last month are not unemployed.

  6. The stats are skewed in that they don't show the number of people whose benefits have run out and those that can only get part time work after having benefits run out.

    Taking into account those that are unemployed, with or without unemployment benefits and those that have lost full time employment and are currently working few hours, the actuals are around 17%

  7. Yes, this is called the U6 number and it's the real picture of the economy.

    But actually, even that doesn't cover it.

    Right now if the BLS calls you and you reply that you have a business or are "self employed", you are counted as employed-- even if your business is losing money and you have little or no income.

    That's why the best measure available comes from tax reciepts which have fallen off a total cliff.

    Logically, they should ask--- are you earning money?

  8. Tiger, you are my hero!