Tea party hero Rick Santelli predicts lower unemployment

CNBC analyst Rick Santelli’s Wall Street friends didn’t sound very happy Friday morning when he predicted that America’s jobs outlook would only improve between now and the election. But that’s what he said, and it sounded like he’s sticking to it.

“Hey, I want to make a prediction for the Friday before the election number, right now,” Santelli said, reacting to Friday’s jobs report. “7.9 on unemployment rate. I wanna make it right now. Right now.”

“Oh come on,” CNBC “Squawk Box” co-anchor Andrew Ross Sorkin said. ‘That’s such a ridiculous silliness. That’s silliness.”

The anchors spent the rest of the segment discussing whether the improving jobs figures are part of a conspiracy to help re-elect Obama, which former Obama economist Austan Goolsbee objected to.

http://www.rawstory.com/rs/2012/09/07/t ... der-obama/

What "improving jobs figures?"

What do think happens when record numbers of people leave the work force?

Fewer jobs than expected were created in August, and the welcome decline in the unemployment rate has to be significantly tempered by its link to the 368,000 people who departed the counted work force.

http://blogs.wsj.com/economics/2012/09/07/men-see-lowest-participation-rate-on-record/

And Santelli is probably correct. it will continue to drop as people abandon the work force to add to the record number of food stamp recipients.

Here, from one of the Left's favorite resources.

http://www.huffingtonpost.com/2012/09/05/food-stamps-record-high-june-2012_n_1857224.html

I wish they had a way to quantify the percentage of those leaving the work force who are students leaving summer jobs and baby boomers retiring. We have known for years that there are millions of baby boomers who will be retiring over the next decade or so.

Don't you love the oh-so-predictable Rightie blanket assumption that anyone who leaves the workforce automatically ends up on food stamps...

:Snooze

archer wrote: I wish they had a way to quantify the percentage of those leaving the work force who are students leaving summer jobs and baby boomers retiring. We have known for years that there are millions of baby boomers who will be retiring over the next decade or so.

Yea- and millions more are retiring - not because they want to- because their company found a way to do without them. This is what companies do when the economy sucks.

The real un-employment rate is very close to that during the depression right now- if the government counted the number the same way as back then- we would see it.

I know a bunch of people in their 50's right now, who would want to be working, but they can afford not to work. The government does not count them at all- but it's still lost productivity for the country- it's still lost a tax base, but these people will not work for 25% of what they are used to.

So they just sit idle. The sad thing is that these guys have lots of experience- they are experts in their fields, and because Obama sucks- they are sitting at home watching Jerry Springer and Clifford the dog.

Socialists suck.

BearMtnHIB wrote: Socialists suck.

So do fascists.

BearMtnHIB wrote: Yea- and millions more are retiring - not because they want to- because their company found a way to do without them. This is what companies do when the economy sucks.

The real un-employment rate is very close to that during the depression right now- if the government counted the number the same way as back then- we would see it.

I know a bunch of people in their 50's right now, who would want to be working, but they can afford not to work. The government does not count them at all- but it's still lost productivity for the country- it's still lost a tax base, but these people will not work for 25% of what they are used to.

So they just sit idle. The sad thing is that these guys have lots of experience- they are experts in their fields, and because Obama sucks- they are sitting at home watching Jerry Springer and Clifford the dog.

Socialists suck.

You seem to have forgotten when President Barack Obama took office, the economy was in freefall. We were losing 750,000 jobs a month, thanks to Republican policies.

But hey, go ahead and put it on Obama. It's his fault cause he's a socialist.

Raees wrote:

BearMtnHIB wrote: Yea- and millions more are retiring - not because they want to- because their company found a way to do without them. This is what companies do when the economy sucks.

The real un-employment rate is very close to that during the depression right now- if the government counted the number the same way as back then- we would see it.

I know a bunch of people in their 50's right now, who would want to be working, but they can afford not to work. The government does not count them at all- but it's still lost productivity for the country- it's still lost a tax base, but these people will not work for 25% of what they are used to.

So they just sit idle. The sad thing is that these guys have lots of experience- they are experts in their fields, and because Obama sucks- they are sitting at home watching Jerry Springer and Clifford the dog.

Socialists suck.

You seem to have forgotten when President Barack Obama took office, the economy was in freefall. We were losing 750,000 jobs a month, thanks to Republican policies.

.

Curious which Bush policies you are talking about that caused the economic freefall? What was the biggest factor in your opinion?

Yes, we should turn it back over to the guys that left it in the toilet when they handed it over...And continue to blame the guy that came in to clean up THEIR MESS because he didn't clean it up fast enough...

I don't want those trickle-down morons in charge of the dog pound, much less the economy.