Posted by
CyberMom on Friday, June 26, 2009 12:34:35 PM
Folks, a short while ago I posted a blog on: How not to read an economic forecast. Without having "all" the details or being an "insider," but being someone who follows the NEWS and pays close attention to what the media and government is feeding us, I boldly stated that the economic forecasters were either lying to us, or were just downright wrong in telling us retail was up because there were higher, 1st quarter earnings. For those who read it, you may remember that I stated that companies like Toyota, would definately report higher, 1st quarter earnings without GM dealerships to compete with, and stores like Walmart would report higher 1st quarter earnings with the littler, mom and pop stores having been driven out of business.
The brief report at
Newsalert stated that on June 4th, Walmart was no longer going to report its monthly earnings because it "knew" that it was causing the economic forecasters to have an incorrect view of consumer spending behavior (and good for Walmart - maybe letting China own it was the best thing that could happen for that store!). What happened? The economic forecasters showed a dramatically sharp "drop" in retail spending from consumers (I believe the number was 24%+/-) from their previous forecast, when Walmart's individual stores were included. TWENTY FOUR percent is a HUGE number. Walmart accounts for nearly 15% of the U.S. retail economy with over 4000 stores! But, let's also consider that Best Buy has over 1,000 stores, and Home Depot has nearly 2,000 stores! The list goes on - and please check these numbers for yourself as I don't have an "economic" analyst to confirm them for me, but I know they're pretty close. What does that mean? It means - I was right. What I was telling you about the economic forecasters painting a false picture was dead on the money. People, please understand, I'm NOT boasting! In fact, it would be better if I WAS wrong. I would be much happier, because that would mean things WERE getting better - but they're NOT!
It was reported that Oregon's $175 million dollars in stimulus monies saved approximately 3,000 jobs. Set aside more recent reports that the so-called, "saved jobs," reports from the stimulus fundings are grotesquely over-exaggerated, because those 3,000 jobs equate to salaries of more than $58,300 PER PERSON!! The
average income in Oregon in 2007 was $38,000+/-. It has NOT changed much in two years (especially with layoffs and a bad economy). Currently, the unemployment rate state-wide is 12.5%, or about 250,000 people!! What does all that mean? It means that the average person in Oregon, you know, the common workers, the little people like me (and maybe even you), are not seeing their jobs saved. The people who make this economy run - working in retail, fast food, gas, factories, production lines, and the "pleasures" of life that the wealthy community's money is supposed to give them access to - are not being helped by the stimulus package. What it also means, is that in order to save everyone's jobs, it would take $14 BILLION dollars. Unfortunately, the jobs that were "saved" were all government funded - ie. direct employment through the government or contracted labor to privately owned companies. So, the stimulus package, in the end, even if we received that $14 billion dollars, couldn't actually save everyone (oh yeah - this was the most RECENT stimulus package - you don't wanna know what we did with the rest.. hee heee hee).
Folks, I was right on with my concerns about economic forecasters by a government bought media (for those of you who read the TownHall magazine and know about the government's control over the media that I've been crying out loud about for a LONG time), and you can trust me when I tell you that this broadcasting of the "jobs" being saved by the stimulus money is B.S.!! And, like it or not, I can point the finger directly at the left - because they're in charge right now - so they get to bear this shame, not any "past" administration. Under President Obama, the media is providing FALSE numbers that are meant to stimulate "hope," and try desperately to save the stock market by encouraging MORE spending. The Democrats are committing one of the MOST DANGEROUS acts in this country's history - and I'll tell you how in the next post; but in the meantime, now you know just how bogus ALL of this "economic" forecasting and these numbers really are. You've been given sufficient knowledge know with which to head out into the world.
What will you do next?