Thursday, August 7, 2014

Right on time

Three months before the midterm elections, and what happens?

Mainstream media starts bubbling with economic happy talk.

So, right on cue, CNN ramps up with a headline that Middle Class Jobs Are Finally Coming Back.

Data in the report seems iffy, and at best marginal. And there's a Jersey union guy in the video that accompanies the written story who's now happy, happy, happy that unemployment among membership is now down to 20 percent; he says it was 40 percent a few years ago.

There's no disclosure whether the union local has the same membership levels.

For the next few months, I expect the most marginal of jobs or economic data to get spun in the most extraordinary days. No worries about saving face, things can always get revised downward after November. We've seen that before.

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