11 October 2012

Hey Jack! Zip It!

So, the thing about being a corporate tycoon is that you get used to being always right. Ask Jack Welch. As he explained in a diatribe today on the editorial page of the Wall Street Journal (which has the credibility of Soviet-era Pravda) he was correct last week in tweeting about the manipulation of employment data that appears, however tepidly, to support the general policies of the Obama administration. I commented on that earlier outburst here.

Forget about the fact that Welch's tweets last week basically accused the BLS bureaucrats of manipulating data - the inference being that they did so at the behest of the administration. No mention of that today. How convenient. Instead we get Welch applying himself to the BLS statistics and their (now apparently inadvertent) bias. Of course, that would raise the issue of whether any of all of the BLS reports over the past months are similarly biased. And it overlooks the fact that the latest number simply continues a trend (albeit a noisy one) of improved jobs numbers.

And for all of this bullshit (in the technical sense) we get treated to old Jack whining about being subjected to mockery as though we live in a totalitarian state. With corporate leaders this removed from reality it is little wonder that the depression lingers on.

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