Labor Force Participation Plunges To Fresh 26 Year Low http://www.zerohedge.com/article/labor-force-participations-plunges-fresh-26-year-low
Watched that exchange this morning. Santelli goes over the top on occasion, but it's understandable with all the B.S. floating around. You can see the frustration on his face, like he's trying to educate a 6 year old.Love it when he rips Leisman a new one.
And the TRUTH is the FACT that the MANUFACTURING SECTOR saw +49,000 increase in jobs - - - the highest since August 1998. Given Obama's 100% write-off tax break for businesses purchasing new investment and equipment this year, this number is only going to get better.
First off Rick Santelli is the man, he tells you how it fucking is.... I saw the whole bit this morning at 8:30am, I wanted to get a good laugh at all the fools who spun the number around as being positive yet again. The job number was a fucking joke, it was spun around by that fool leisman and mark zandi as if the number was A-OK!!! mark zandi said the numbers DIDNT MEAN anything, of course Gary K. calls him out moments later and says how could they be meaningless, if they were 200,000+ they wouldn't have been meaningless. Mark says Jan is the month BLS has the most difficult time getting the employment number right, WTF!! Come on, this guy is a fool..He says dont read anything into these numbers. Rick Santelli on at 7:35 <object id="cnbcplayer" height="380" width="400" classid="clsid27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=9,0,0,0" > <param name="type" value="application/x-shockwave-flash"/> <param name="allowfullscreen" value="true"/> <param name="allowscriptaccess" value="always"/> <param name="quality" value="best"/> <param name="scale" value="noscale" /> <param name="wmode" value="transparent"/> <param name="bgcolor" value="#000000"/> <param name="salign" value="lt"/> <param name="movie" value="http://plus.cnbc.com/rssvideosearch/action/player/id/1780705458/code/cnbcplayershare"/> <embed name="cnbcplayer" PLUGINSPAGE="http://www.macromedia.com/go/getflashplayer" allowfullscreen="true" allowscriptaccess="always" bgcolor="#000000" height="380" width="400" quality="best" wmode="transparent" scale="noscale" salign="lt" src="http://plus.cnbc.com/rssvideosearch/action/player/id/1780705458/code/cnbcplayershare" type="application/x-shockwave-flash" /> </object>
Yeah, and Zandi is now on the record with 275k gain on top-line figure for Feb 2011. I'll forward this thread to Zandi when we we see him over by 100k or more.
This is too funny! The paper-trading MORON that has over 12,000 posts on ET and who has been a PERMA-BEAR since 800 SPX is getting all excited over a couple of talking heads on CNBC. The only pathetic joke here is you my friend. You are completely worthless. Now get back to your school work and stop wasting your Mommy and Daddie's hard earned tuition money!
I love how ZH neglects to mention that the drop in the participation rate occurred largely because of the "population control effect", which the BLS applies once a year to the household survey data. Strange omission for a blog that loves to point out such calculation issues when it suits the rant. But of course things like this must never get in the way of a punchy headline. What a media whore! As to Santelli, I know someone who used to talk to him when he was a broker. He was pretty sh1t, I'm told. No view on his political affiliations.