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Home Our Perspective David Rosenberg Refutes Erin Burnett's Misconceptions About The "Recovery"
David Rosenberg Refutes Erin Burnett's Misconceptions About The "Recovery" PDF Print E-mail
Written by Steve Meyers   
Wednesday, 08 September 2010 10:50

We like Erin Burnett: after all she is ranked 33 on the Fortune 40 under 40. Who can not like someone who has managed to get that high in the rankings on pure talent, although some recent CNBC appearances did seem to indicate a slight, shall we say, bias, when her guests tend not to disagree with Ms. Burnett's misperception of the world. Indeed, in a recent appearance on Meet The Press, the youngish CNBC anchor made some statements that go straight to errorchecking and bias validation. At 47 minutes into the  interview (extracted) Ms. Burnett says: "I think the problem is you have the fastest job creation in this recovery than you have in any recession in 25 years... Technically speaking this recovery has not been tepid." Alas, we are not sure who fed the CNBC employee these "facts" and figures, but they are patently false.

On the first item, we present the quite famous chart comparing job recoveries across all historical recessions. Alas, this chart argues for precisely the opposite of what Ms. Burnett claims - we are currently experiencing the recession with the slowest job creation in history. And based on our prior estimates, the recession will last around 85 months before we regain the unemployment rate seen at the onset in December 2007. READ MORE

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Mars  - President in Ohio |2010-09-08 13:27:59
As confirmation of how bad things are, the President is sounding off with some populist rhetoric and reverting back to "candidate Obama" referencing his WWII-era grandparents, single mother struggles, Michelle's blue-collar family roots, etc. Hey, maybe he'll write another book and pocket another few million! haha
Oh, no he didn't! Yes, he just used the old tagline.....this upcoming election is about going forward, not backward......don't change horses in the middle of the stream......yada yada........."not that there's anything wrong with that" haha
TitanTrader  - Blamer in Chief |2010-09-08 14:03:15
His blaming everything wrong on Bush is getting old. Some of us know that his party took over congress in Jan 07. Some of us know that all bill originate out of the House of Represenatives.

Some us know that his campaign rhetoric scared the heck out of people and his policies have proven them right.

I feel sad for Americans that this is the best we can do, double down on another wasteful and worthless stimulus.
Ron Rebner |2010-09-08 13:33:13
Oops: Beige Book Sees "Widespread Signs Of Deceleration"

http://www.zerohedge.com/article/oops-beige-book-sees-widespread-signs-deceleration

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