Hat tip Feral Irishman
COSTELLO: I want to talk about the unemployment rate in America .
ABBOTT: Good Subject. Terrible Times. It’s 5.6%.
COSTELLO: That many people are out of work?
ABBOTT: No, that’s 23%.
COSTELLO: You just said 5.6%.
ABBOTT: 5.6% Unemployed.
COSTELLO: Right 5.6% out of work.
ABBOTT: No, that’s 23%.
COSTELLO: Okay, so it’s 23% unemployed.
ABBOTT: No, that’s 5.6%.
COSTELLO: WAIT A MINUTE. Is it 5.6% or 23%?
ABBOTT: 5.6% are unemployed. 23% are out of work.
COSTELLO: If you are out of work you are unemployed.
ABBOTT: No, Congress said you can’t count the “Out of Work” as the unemployed. You have to look for work to be unemployed.
COSTELLO: BUT THEY ARE OUT OF WORK!!!
ABBOTT: No, you miss his point.
COSTELLO: What point?
ABBOTT: Someone who doesn’t look for work can’t be counted with those who look for work. It wouldn’t be fair.
COSTELLO: To whom?
ABBOTT: The unemployed.
COSTELLO: But ALL of them are out of work.
ABBOTT: No, the unemployed are actively looking for work. Those who are out of work gave up looking and if you give up, you are no longer in the ranks of the unemployed.
COSTELLO: So if you’re off the unemployment roles that would count as less unemployment?
ABBOTT: Unemployment would go down. Absolutely!
COSTELLO: The unemployment just goes down because you don’t look for work?
ABBOTT: Absolutely it goes down. That’s how it gets to 5.6%. Otherwise it would be 23%.
COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number?
ABBOTT: Two ways is correct.
COSTELLO: Unemployment can go down if someone gets a job?
ABBOTT: Correct.
COSTELLO: And unemployment can also go down if you stop looking for a job?
ABBOTT: Bingo.
COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to have people stop looking for work.
ABBOTT: Now you’re thinking like an Economist.
COSTELLO: I don’t even know what the hell I just said!
ABBOTT: Now you’re thinking like a Politician.
I guarantee, 99% of the democrats I know would not finish reading that.
This is what they believe, memes.
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Copied, pasted to a new email and sent.
Who’s on first?
Brilliant stuff.
Something similar I’ve been working on:
These guys do an audit of Congress:
https://www.youtube.com/watch?v=lkFCiFvTVt8
Bob1: “So, what is it you’d say you do here?”
Congressman (smiling condescendingly): “Well, we make the laws that run the whole country?”
Bob2: “So, you actually write the laws?”
Congressman (stops smiling): “Well, no. The lawyers do that.”
Bob1: “But you thoroughly read and understand the laws?”
Congressman (a little nervous): “Well…they are very long…thousands of pages each…I mean…sometimes I have one of my many assistants read it and give me a quick summary…or a memo.”
Bob2: “So, how do you know how to vote?”
Congressman (openly sweating): “Well…I have lunches almost everyday with various lobbyists, very important people, and they let me know whether it is a good bill or not…I mean…and they should know…the lawyers who write the bills work for them.”
Bob2: “So, basically, what I am hearing is that you garner a hefty six-figure salary, a seven figure “discretionary budget,” plus untold millions in fringe benefits and insider stock tips, to say yea or nay–based entirely on what some corporate shills tell you to do– a couple of dozen times a year?”
Congressman (screaming): I’m a people person, damnit!
Bob1: “So, what is it you’d say you do here?”
DRUD
The full clip
https://www.youtube.com/watch?v=mGS2tKQhdhY
DRUD….liked and copied to an email.
Thanks, Admin. I need a line like: “I already told you people, I make the goddamn laws!”
I’ll take John Williams Shadowstats numbers any day over the B.S. BLS!
Who’s on first?
…GOLDMAN SACHS!
Thanks, kokoda.
This really is a brilliant way to explain the times. I actually copied it into a doc. file to save.