Janet Yellen FOMC press conference March 18, 2015, Pace of employment growth has remained strong, Continued progress toward maximum employment, Of whom illegal aliens?, Job gains averaging nearly 290k per month, Slack in labor market continues to diminish, OMG what the hell is wrong with Yellen?

Janet Yellen FOMC press conference March 18, 2015, Pace of employment growth has remained strong, Continued progress toward maximum employment, Of whom illegal aliens?, Job gains averaging nearly 290k per month, Slack in labor market continues to diminish, OMG what the hell is wrong with Yellen?

“Why does Janet Yellen keep misrepresenting the jobs situation and quoting the big lie of the unemployment rate?”…Citizen Wells 

“In February 2015 there were 43,000 fewer white Americans employed, 354,000 more not in the labor force, 96,000 more employed and we added 295,000 jobs? Was Common Core math used?”…Citizen Wells

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

Jenet Yellen is answering questions as I write this and read the

Transcript of Chair Yellen’s FOMC Press Conference Opening Statement March 18, 2015.

“We have seen continued progress toward our objective of maximum employment. The pace of employment growth has remained strong, with job gains averaging nearly 290,000 per month over the past three months. The unemployment rate was 5.5 percent in February; that’s three-tenths lower than the latest reading available at the time of our December meeting. Broader measures of job market conditions—such as those counting individuals who want and are available to work but have not actively searched recently and people who are working part time but would rather work full time—have shown similar improvement. As we noted in our statement, slack in the labor market continues to diminish. Meanwhile, the labor force participation rate—the percentage of working-age Americans either working or seeking work—is lower than most estimates of its trend and wage growth remains sluggish, suggesting that some cyclical weakness persists. So considerable progress clearly has been achieved, but room for further improvement in the labor market continues.

We continue to expect sufficient underlying strength in economic growth to support ongoing improvement in the labor market. After averaging about 2-1/2 percent over 2014, growth of real gross domestic product appears to have slowed in the first quarter of this year, in part reflecting a moderation in household spending. In addition, the recovery in the housing sector remains subdued and export growth looks to have weakened. Looking ahead, however, the Committee continues to expect a moderate pace of GDP growth, with robust job gains and lower energy prices supporting household spending.”

“This assessment of the outlook is reflected in the individual economic projections submitted for this meeting by the FOMC participants. As always, each participant’s projections are conditioned on his or her own view of appropriate monetary policy. The unemployment rate projections over the next few years and in the longer run are generally a bit lower than the December projections. At the end of this year, the central tendency for the unemployment rate stands at 5.0 to 5.2 percent, in line with participants’ estimates of the longer-run normal unemployment rate. Committee participants generally see the unemployment rate declining a little further over the course of 2016 and 2017.”

http://www.federalreserve.gov/mediacenter/files/FOMCpresconf20150318.pdf

There is only one explanation for Janet Yellen’s irresponsible statements about the employment situation in the US.

She is either on drugs or being scripted by the Obama camp.

She can’t be that stupid.

She keeps quoting the unemployment rate, in fact I just heard her refer to it.

Jim Clifton, the CEO of Gallup calls it a lie!

It is!!!

And her touting the recent job gains.

The US Labor Dept. BLS reported 295,000 job gains for February 2015.

It also reported that there were only 96,000 more employments and in fact 43,000 fewer white employments.

Zero Hedge and Citizen Wells are questioning these Orwellian claims.

From Citizen Wells March 18, 2015.

Wall Street and main street had better be worried about the real state of the economy and the jobs crisis in this country.

Yesterday Zero Hedge questioned the monthly jobs data from the US Labor Dept. BLS.

“Something Strange Is Going On With Nonfarm Payrolls”

“Falling wages aside (a critical topic as it singlehandedly refutes the Fed’s bedrock thesis of no slack in a labor force in which there are 93 million Americans who no longer participate in the job market) going back to the original topic of which economic factors are prompting the Fed to assume there is an economic recovery, without exaggeration, all alone.

Is there nothing else that can validate the Fed’s rate hike hypothesis? Well… no.

Below is a selection of the economic data points that have missed expectations in just the past month.

MISSES

  1. Personal Spending
  2. Construction Spending
  3. ISM New York
  4. Factory Orders
  5. Ward’s Domestic Vehicle Sales
  6. ADP Employment
  7. Challenger Job Cuts
  8. Initial Jobless Claims
  9. Nonfarm Productivity
  10. Trade Balance
  11. Unemployment Rate
  12. Labor Market Conditions Index
  13. NFIB Small Business Optimism
  14. Wholesale Inventories
  15. Wholesale Sales
  16. IBD Economic Optimism
  17. Mortgage Apps
  18. Retail Sales
  19. Bloomberg Consumer Comfort
  20. Business Inventories
  21. UMich Consumer Sentiment
  22. Empire Manufacturing
  23. NAHB Homebuilder Confidence
  24. Housing Starts
  25. Building Permits
  26. PPI
  27. Industrial Production
  28. Capacity Utilization
  29. Manufacturing Production
  30. Dallas Fed
  31. Chicago Fed NAI
  32. Existing Home Sales
  33. Consumer Confidence
  34. Richmond Fed
  35. Personal Consumption
  36. ISM Milwaukee
  37. Chicago PMI
  38. Pending Home Sales
  39. Personal Income
  40. Personal Spending
  41. Construction Spending
  42. ISM Manufacturing
  43. Atlanta Fed GDPNow

So a pattern emerges: we have an economy in which jobs and only jobs are acting as if there is a strong recovery, while everything else is sliding, disappointing economists, and in fact hinting at another contraction (whatever you do, don’t look at the Fed’s internal model of Q1 GDP).

To be sure, economists these days are better known as weathermen, and so they are quick to blame every economic disappointment on the weather. Because, you see, they were unaware it was snowing outside when they provided their forecasts about the future, a future which should be impacted by the snowfall that day, and which they promptly scapegoat as the reason for their cluelessness. Yet one wonders: why didn’t the harsh snow (in the winter) pound February jobs as well? Recall last year’s payroll disappointments were immediately blamed on the weather which was just as “harsh” as this year. Why the difference?

And yet, today this rising “anomaly” between Nonfarm Payolls “data” and everything else, hit a crescendo, and some – such as Jim Bianco – have had it with the lies anomalies, which prompted him to ask the following:

Why Are Construction Jobs and Housing Starts Telling Different Stories? Is The Problem Non-Farm Payrolls

JobsHousingStarts

“Economists seem to start with the premise that the non-farm payroll data is correct and everything else needs to be dismissed by weather and other factors. Maybe we should ask why the non-farm payrolls number is different from everything else.”

Read more:

http://www.zerohedge.com/news/2015-03-17/something-strange-going-nonfarm-payrolls

Citizen Wells responded.

“You don’t have to be a rocket scientist or a math whiz to evaluate the data from the US Labor Department.

You just have to care and have basic math skills.

Sadly this is lacking in the mainstream media.

Even Fox News.

Some of the more blatant lies (yes Gallup CEO Jim Clifton was correct to call them lies), relate to the unemployment rate and it’s improvement and job growth.

For example, in February 2015 the Labor Dept. reported 295,000 jobs added.

However, there was only a 96,000  gain in employment.

And Whites had 43,000  fewer employments!

There were 354,000 more people not in the labor force!

There were 180,000 more people not in the labor force who want a job now!

Did you know?

5,205,000 full time employments were lost during the first year of Obama’s occupation of the White House from January 2009 to January 2010?

2.8 million white Americans fewer were employed during Obama’s first year.

During Obama’s term, from January 2009 to now, 75 percent of the employment went to Hispanics/Latinos.

Since it is PI Day and Einstein’s birthday, I present some new data and a math lesson. Math that I understood by the fifth grade.

Below are the changes in employment by race during the first 6 years of the Obama Administration.

The ratio of employment added in 6 years over employment in Jan. 2009 is given with the resulting percent change over 6 years.

White

1,172,000 / 116,863,000 = .01 = 1 %

Black

1,590,000 / 15,481,000 = .103 = 10.3 %

Hispanic/Latino

4,511,000 / 19,794,000 = .228 = 22.8 %

Asian

1,934,000 / 6,606,000 = .293 = 29.3 %

How do you like those numbers?

Seen/heard them reported by the White House or mainstream media, Fox?

Our math capabilities have diminished in this country.

But our real problems are priorities and integrity.”

https://citizenwells.wordpress.com/2015/03/18/fed-jitters-or-jobs-economy-jitters-jobs-employment-crisis-being-ignored-no-recovery-evidence-in-real-jobs-numbers-personal-and-construction-spending-record-government-food-stamp-and-public-assistan/

 

 

 

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19 responses to “Janet Yellen FOMC press conference March 18, 2015, Pace of employment growth has remained strong, Continued progress toward maximum employment, Of whom illegal aliens?, Job gains averaging nearly 290k per month, Slack in labor market continues to diminish, OMG what the hell is wrong with Yellen?

  1. citizenwells

    “Why does Janet Yellen keep misrepresenting the jobs situation and quoting the big lie of the unemployment rate?”…Citizen Wells

    There is only one explanation for Janet Yellen’s irresponsible statements about the employment situation in the US.

    She is either on drugs or being scripted by the Obama camp.

    She can’t be that stupid.

  2. citizenwells

    “”Flexible” Fed Loses “Patience”; Cuts Growth, Inflation Forecasts: Redline Comparison”

    http://www.zerohedge.com/news/2015-03-18/flexible-fed-loses-patience-cuts-growth-inflation-forecasts-again

  3. citizenwells

    “The Lesson of Netanyahu’s Victory: Conservatism Will Defeat Barack Obama”

    “Netanyahu was gonna lose. And why was Netanyahu gonna lose? He was gonna lose because he was rude; he was extreme; he was a right winger; he didn’t appreciate the greatness of Obama; he disrespected Obama by coming and speaking to Congress when Obama didn’t invite him and preferred that he wasn’t here. He deserved to lose because the Iranians don’t like him, and the Arabs don’t like him. He deserved to lose, he was going to. And they had exit polls, they had polling data, they had everything.”

    “Folks, there’s a lesson here. There are many lessons here. One of the big lessons is that conservatism can beat Barack Obama.”

    “Here’s Netanyahu. There’s no question Netanyahu is a conservative, particularly if you use the American definition of the ideology, there’s no question. And look at the array of forces against Netanyahu led by Obama campaign experts. And he still wins. He had the socialist movements of Western Europe opposed to him. He had the American media opposed to him. He had most of the world media opposed. They had him dead and buried, politically. They had the Iranian media, of course, opposed.

    Barack Obama’s campaign experts raising money for, spending money for, advising Netanyahu’s opponents. And they still lost.”

    “It can happen, is the point. Conservatism can beat Barack Obama. Conservatism can beat the Democrat Party. I’ll tell you who needs to realize this is the Republican Party. What we have learned is centrism will not beat Barack Obama. RINOs will not beat Barack Obama. Moderates will not beat Barack Obama. Republican Northeastern liberals, Rockefeller types, are not gonna beat Barack Obama. By Obama, I mean the Democrat Party, or Hillary Clinton, throw your name in there. But a conservative candidate will, Scott Walker, Netanyahu, any number of other examples are readily available.”

    “Obama and the Democrat Party and the American left made it clear that they thought anything along the lines of Netanyahu would stand in the way of a good deal on nukes with Iran. I mean, let’s be up front and honest. This election was about the Obama way of dealing with Iran or the Netanyahu way of dealing with Iran, and you can’t tell me anything different.

    You want to tell me, “Well, he wasn’t on the ballot, Obama.” Yes, he wasn’t on the ballot, but everybody knows what this was about. The point is Barack Obama lost an election yesterday, too. He wasn’t on the ballot, but the things he stood for and the things he tried secure victory for went down in flames. And it wasn’t even close. What is Netanyahu, among many other things? He’s fearless. Right? It shows you, it illustrates, there’s no reason to be afraid.”

    http://www.rushlimbaugh.com/daily/2015/03/18/the_lesson_of_netanyahu_s_victory_conservatism_will_defeat_barack_obama

  4. citizenwells | March 18, 2015 at 3:44 pm |

    “Why does Janet Yellen keep misrepresenting the jobs situation and quoting the big lie of the unemployment rate?”…Citizen Wells

    There is only one explanation for Janet Yellen’s irresponsible statements about the employment situation in the US.

    She is either on drugs or being scripted by the Obama camp.

    She can’t be that stupid.

    ****************
    CW,
    Being scripted by the Obama camp!

    If you are in the process of destroying the economy, and the value of the currency, the last thing you would want to do is tell the truth about the progress of your damage.

  5. citizenwells

    bob, I agree.

  6. citizenwells

    Also applies to media.

  7. citizenwells

    Cabby.
    By whom?
    Illegal aliens?

  8. citizenwells

    “U.S. Army Forces, including Patriot Anti-Missile Battery, to Conduct Rapid-Response Exercises in Poland

    18 March 2015

    Warsaw, Poland – This week the U.S. Army deployed to Poland about 30 vehicles and 100 troops from the 5th Battalion/7th Air Defense Regiment, based in Germany. The U.S. soldiers will train for several days with Polish troops from the 37th Missile Squadron of Air Defense, the 38th Support Squadron, and the 3rd Brigade of Air Defense Command. The American forces will set up their Patriot air and missile defense assets in Poland to demonstrate the U.S. Army’s capacity to deploy Patriot systems rapidly within NATO territory. Training elements will include defending high value assets, ground forces, and population areas from ballistic missiles and air strikes.”

    http://poland.usembassy.gov/patriot4.html

  9. I wonder if the protests in Germany against free markets are being organized by Obama’s friends, Ayers and Code Pink? Just wondering since they were in Egypt too seen in Tahrir Square.

  10. Netanyahu is a great leader. He has class. He stands up to evil. He goes to the Western Wall to pray and give thanks. Obama is a thin skinned, childish leader. He appeases evil. He doesn’t go to church. He thanks no one but himself. He is vindictive. A man, or woman, with courage and strong principles will win over the weenie liberals everytime. America needs such a strong leader, like Netanyahu, and soon.

  11. This lady is passionate about getting rid of the usurper, I think she speaks for a lot of us.

  12. Thank you usurper.
    ******************

    Tuberculosis infects 27 at Kansas City high school…

    http://www.abcactionnews.com/news/national/tuberculosis-infects-27-at-kansas-city-area-high-school

  13. US Records Agency to State Dept: Why Aren’t Hillary’s Emails Available?
    The government’s records agency wants the State Department to explain how [Full Story]

    Read Latest Breaking News from Newsmax.com http://www.newsmax.com/#ixzz3UoboPi3H

  14. US Records Agency to State Dept: Why Aren’t Hillary’s Emails Available?

    The government’s records agency wants the State Department to explain how [Full Story]

    http://www.newsmax.com/Newsfront/Hillary-Clinton-emails-State-Department-letter/2015/03/18/id/631054

  15. citizenwells

    “Obama Administration Sets New Record For Censoring & Denying-Access-To Government Documents”

    “War is Peace
    Freedom is Slavery
    Ignorance is Strength
    Censorship is Transparency”

    http://www.zerohedge.com/news/2015-03-18/obama-administration-sets-new-record-censoring-denying-access-government-documents

  16. OT: Has any one heard this? I wondered why Barry and family no longer went to basketball games! hahahahaha

    http://www.americanthinker.com/blog/2015/03/obamas_fired_brotherinlaw_left_oregon_state_basketball_program_a_mess_comments.html

  17. Pingback: Janet Yellen jobs lies, Obama lies, Media lies, Yellen employment growth strong and touts stated unemployment rate, Gallup CEO Jim Clifton correct, Dictionary states lie is anything that gives or is meant to give a false impression | Citizen WElls

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