Former GE CEO Jack Welch compared Obama supporters to Soviet goons after he questioned the implausible unemployment numbers last week.

The Wall Street Journal
reported:

Imagine a country where challenging the ruling authorities—questioning, say, a piece of data released by central headquarters—would result in mobs of administration sympathizers claiming you should feel “embarrassed” and labeling you a fool, or worse.

Soviet Russia perhaps? Communist China? Nope, that would be the United States right now, when a person (like me, for instance) suggests that a certain government datum (like the September unemployment rate of 7.8%) doesn’t make sense.

Unfortunately for those who would like me to pipe down, the 7.8% unemployment figure released by the Bureau of Labor Statistics (BLS) last week is downright implausible. And that’s why I made a stink about it.

Before I explain why the number is questionable, though, a few words about where I’m coming from. Contrary to some of the sound-and-fury last week, I do not work for the Mitt Romney campaign. I am definitely not a surrogate. My wife, Suzy, is not associated with the campaign, either. She worked at Bain Consulting (not Bain Capital) right after business school, in 1988 and 1989, and had no contact with Mr. Romney.

The Obama campaign and its supporters, including bigwigs like David Axelrod and Robert Gibbs, along with several cable TV anchors, would like you to believe that BLS data are handled like the gold in Fort Knox, with gun-carrying guards watching their every move, and highly trained, white-gloved super-agents counting and recounting hourly…

…Even if the BLS had a perfect process, the context surrounding the 7.8% figure still bears serious skepticism. Consider the following:

In August, the labor-force participation rate in the U.S. dropped to 63.5%, the lowest since September 1981. By definition, fewer people in the workforce leads to better unemployment numbers. That’s why the unemployment rate dropped to 8.1% in August from 8.3% in July.

Meanwhile, we’re told in the BLS report that in the months of August and September, federal, state and local governments added 602,000 workers to their payrolls, the largest two-month increase in more than 20 years. And the BLS tells us that, overall, 873,000 workers were added in September, the largest one-month increase since 1983, during the booming Reagan recovery.

These three statistics—the labor-force participation rate, the growth in government workers, and overall job growth, all multidecade records achieved over the past two months—have to raise some eyebrows. There were no economists, liberal or conservative, predicting that unemployment in September would drop below 8%…

Read the rest here.

 

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  1. Has Jack Welch received his audit notice for the last 7 years from the IRS; if not, I guarantee it IS in the mail.

  2. Jack, they rigged the numbers just like you used to do as CEO of GE, remember?

  3. His right. Look what they did to stacey dash. This idol worship of Obama, dear teleprompter leader, is sickening. But, what do you expect from a marxist/fascist/communist/statist/socialist who gives up individual freedom for the collective.

  4. It’s not so much that Welch was attacked — any high-profile public figure who sharply criticizes a president is going to face some harsh criticism back. It’s who attacked Welch in their defense of Obama, and that in large part was the big media outlets that are supposed to be the ones providing oversight on any president’s actions, with the foaming-at-the-mouth heads on MSNBC being at the forefront of the list (and is there anyone out there who wants to debate that Welch’s GE was a better-run company than the one Jeff Inmelt has run for the past decade? Those at MSNBC have to know that their lack of success over the past decade wouldn’t have been tolerated on a bottom-line financial basis under the old GE regime compared with the group running things now and running the network in conjunction with Comcast)

  5. Until there is a media to hold an administration’s feet to the fire, this sort of deceit will continue…

    I’m guessing on or about January 20 when “journalists” everywhere re-discover the ethics that they’ve lost.

  6. After the Benghazi lies, why would anyone believe this administration?

    And since when is one month of minus-8 percent unemployment something to crow about? Those other 44 months are now somehow erased?

    Go, Jack, go.

  7. Obama supporters may be akin to Soviet Goons or Hitler’s Brownshirts but the state-run media is the Pravda of this country.

  8. Media bias? No way. AP is saying the Benghazi attacks were due to the movie even today when we know thats not the case. DOS now says there was No protest. AP knows we know they’re lying and yet they continue. This had gotten dangerous.

  9. NOT soviet thugs….These people are the underground grandchildren of nazi party socialist leaders of the 1930s . Chris Matthews is not only the spitting image of Vidkun Quisling, he spits raw anti-semetism in his badgering of old man Jack Welch by quoting Nixon’s infamous comments about the BLS…” They were all jews over there…He didn’t trust them…He thought they were out to get him.” at the 7:20 mark of this clip ….> http://youtu.be/n-fXyO8ntC4

    The left went after Jack Welch as HARD as they do birthirs , and we need to dig down deep when they get all rabid over our accusations of bogus data. They act this way out of despair their crimes risk exposure.

    ..If the Federal numbers improved 0.3%, then there should be a corresponding improvement in the sum total of STATE unemployment statistics. If none of the states show net improvements of 0.3%, that proves the number bogus. If there is a corresponding improvement in the state numbers, and the gains all came from Democrat states like IL and NY , with 60,000 new part time jobs in Cook county IL , we have hard evidance of forging labor statistics for political purposes of manipulating elections.

  10. #2 October 10, 2012 at 8:13 am
    pink tie Republican commented:

    Mr. Welch is merely pointing out that the published numbers make no sense, something that any number of observers can also see from the underlying article.

    If you have an accusation of corruption to make, please be specific, and use a cite.

  11. Jack Welch was my CEO during my five years of employment at GE, he was darn great CEO then. He did GE wrong when he chosed Jeff Immelt his replacement.

  12. pink tie = vapid anti capitalist bomb thrower drone, jealous beyond belief of anyone who earned their money because of their own hard work and talent.

  13. Several of you clearly know nothing about Jack Welch and how he ran GE into the ground with GE Capital, and how GE went bankrupt and needed to be bailed out. Jack built a Ponzi financing unit to pay people to buy his stuff, AND THE PONZI EVENTUALLY COLLAPSED.

  14. These are Bengazi Labor Statistics. Unemployment ALWAYS rises in September as people quit jobs to return to school. …except when you have a grade curve affirmative action President who needs to have his marks adjusted from fail to pass by the white guilt mongering liberal establishment .

  15. Good to see jack fouble down. .

    Wake up folks. . BLS-gate, Libya-gate, NPR-gate, And more to come. . .

  16. Jack, Jack, don’t worry about it. If there is any discrepancy it will be rectified. The BLS will revise the jobless numbers upward, of course upward, if necessary. Oh… that will occur probably on a friday night, like the friday night right after Thanksgiving.

  17. When a LIE is this obvious, this excessive, this beyond belief – one doesn’t have to comment on it.

    BTW: the free-OBOZO-phone women in Ohio has gone on the record saying that even though she doesn’t know what these numbers mean, she totally, completely, 100% believes them since they came from the OBOZO re-election team at BLS. Jack Welch, the greatest entrepreneur in the history of the world, thinks they are total BS. Guess which one the corrupt MSM believes ?

  18. Obots…Soviet goons…they all look like Commies to me, too, Mr Welch.



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