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Saturday, November 03, 2012

Republican Jobs

Jack Welch, the ex-CEO of GE and the man who was an infamous blurt-out of a tweet that the Bureau of Labor Statistics quite possibly may have cooked the jobless figures of October, 2012, lost his own retirement jobs with Forbes and Bloomberg (I may be wrong about his having a job with Bloomberg). He says it was amicable and he wanted to go somewhere else to get "more traction", but it was obvious that whatever benefit he might have brought to the forum of discussion, his stupidity was obliterating it.

This was the same guy who back in 2010 or 2011 talked about how he handled job creation:

There was one company he had in mind that went into the Financial Crisis period with 28,000 employees, and they were restructuring and automating with a goal of being at 15,000 employees when things picked up again!
Almost 50% permanent loss of jobs.
It is small wonder profits have been up for many companies. That's where the jobs went.

Jack Welch suspected intrigue because Jack Welch himself has been actively destroying jobs for years. Of course, he has been doing it to improve the bottom line for companies, but nowhere do I see any creation of jobs due to his influence yet.

This is what is being totally ignored in the JOBS, JOBS, JOBS discussion - which of course is no discussion but rather a mantra that we chant and hope that some force will hear our prayers... possibly a higher power of jobs creation - the fact that job destruction and the displacement of industry has been pursued in this country for at least a quarter of a century.

The US Government used to target 4 % unemployment as a level to attain, and now Jack Welch and his Corporate Republicans are targeting 50% job destruction. So then 4% divided by 50% should equal the new level of unemployment, all things being equal.

4% divided by 50% = 8%

Surprising figure that 8% ! We have seen it for a while.

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