Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbersThe real story is that part time workers for economic reasons skyrocketed by 582,000! In other words, unemployment went down because people are getting desperate and taking what they can get for jobs. There goes Keynes' theory about sticky wages.
— Jack Welch (@jack_welch) October 5, 2012
Friday, October 5, 2012
Jack Welch the Original BLS Truther
Former GE chief Jack Welch comments on the drop in the unemployment rate to 7.8%.
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If people are so stupid that they would rather starve to death than accept a pay/price cut, why are they allow to vote? Or have bank accounts? Or own scissors?
ReplyDeleteIt's a time honored tradition that dead people get to vote in certain parts of America.
DeleteLOL
DeleteBecause the more stupid people are, the more the state can be presented as their salvation, and hence the more the state can continue to pillage and loot the productive class.
"There goes Keynes' theory about sticky wages."
ReplyDeleteWell, yeah. Keynes' theory made no sense. Every wage and price has some amount of "stickiness" - but that only means that people won't instantaneously take large pay cuts or switch to jobs that pay less, unless they really have to. And in a depression (caused by Keynes' crackpot theories, of course) they kind of have to.
He basically ignored the temporal nature of the production process and then brought it back in an infinite way. Everything to a mainstream economist either happens immediately or never - there is no in between. Absolutely frakking nuts.
Yup, in my Midwestern city there is a bevy of job openings, most of them are seasonal/holiday jobs and most of them are part-time.
Delete- clark