I'm shocked.. okay, no I'm not.
Generally I avoid politics like the plague these days. Lamborghinis, booze, young impressionable women, those are things I can wrap my hands around, and in a nutshell, give a damn about.
Occasionally, though, something will slip into my sphere of notice enough to warrant commentary, and this time it's the "rising" unemployment rate and economic doom and gloom being hopefully peddled by the MSM, as is standard operating procedure for them whenever their team isn't at the reins.
You know, that horrible, ugly unemployment rate that's lower than it was during the glory days of overinflated markets sound economic policy.
I was about to hit the intertubes and see what said MSM had to say about unemployment figures during the Clinton reign, but, someone has already done the footwork.
Yes, it's as you'd expect.
CNN, July 5, 1996:
Economists didn't expect June's unemployment rate to be much different from May's, which was an already-low 5.6 percent. But in fact, it did fall -- to 5.3 percent.
CNN, January 4, 2008:
Employers added far fewer jobs in the month than had been forecast, while the unemployment rate shot up to 5 percent, which was a two-year high, according to a government report Friday.
Stocks sold off sharply on rising fears of a possible recession and there was a widespread belief in the markets that the Federal Reserve would have to respond to this report with a sharp drop in interest rates.
"December's bleak jobs report represents the siren call that this business cycle is just about over," said Bernard Baumohl, the managing director of the Economic Outlook Group, an economic research firm in Princeton, NJ. "We're about to tilt over to the other side of the economic curve and begin the downswing."