Brinker Yesterday

[planosteve]

I was shocked and amazed yesterday when I heard Brinker blame the Democrats losses in the election not for the lousy job that Obama had done, but on their failure to explain the recovery to the voters. In other words he thinks people are too stupid to realize what a great economy we have and it's the government's job to explain it to them. I couldn't believe anyone could think that. Apparently, I wasn't the only one. Here's Honey's take on it:

BRINKER'S POLITICAL PONTIFICATIONS....Honey EC: In general, my policy is to not cover Brinker's political rants, especially when they don't have any pertinent connection to investing. Today, if you listened to the first two hours, you heard him repeatedly pontificate about why the election turned out the way it did. He ranted that the Democrats "deserved to lose" because they failed to properly explain what a wonderful economy we have.

J.M. eloquently explains the election to Bob Brinker:
But the employment discussion is what really galled me. Bob took the part-time for economic reasons number from the household survey and subtracted it from the establishment survey's total non farm employment total to get to total full time. That's a major no-no. They are entirely separate surveys. The establishment survey is broad but not deep. The household survey is deep but not broad. But they are two entirely different samplings. I'm not saying many people don't frequently make that mistake, comparing apples to oranges that way, but someone like Brinker who's been on the radio this long ought to know better by now.

Whatever else may be said about the election results this week, the salient point is that Democrats find themselves in the worst position in electoral terms they've been in nationwide since 1860.

That's not the result of a misunderstanding. The people have spoken, and spoken loudly, and they are pissed-off.

jm
AND:

After an intervening discussion on inflation, Bob stated 7+ million are part time employed vs. 140 million total non farm working. He said the % of the part time were therefore a small % of the big picture, saying explicitly that 133 million are full time.

This shows that Bob doesn't have a clue what he is talking about. He subtracted a subset of part-time, not even close to all the part time out there (almost 28 million), taken from one set of survey data, from a separate measure of non farm workers in a completely different survey of data. He is subtracting apples from oranges.

Bob Brinker doesn't have a clue about the enormity of that error, which was illustrated by caller Scott in Chicago who pointed out that people trying to improve themselves with JD and MBA degrees were facing bad prospects. Of course Scott erred when he said the economy was shrinking currently, but Bob Brinker doubled down on his answer and said 140 million were working, 133 million of which were full time.

Again, only about 120 million are working full time right now, almost 2 million fewer than seven years ago at this time. That's why voters are angry.

If anyone needs to do his homework, it's Bob Brinker. If anyone is full of baloney, it's Bob Brinker. If anyone needs to get an education, it's Bob Brinker.

Sorry to go on about the dull, boring facts, but they are stupid things unless we understand them. Bob doesn't yet grasp after all these years what's going on in the monthly Employment Situation summary. If that's part of his market-timing model, I wouldn't follow it if I were you.

jm

Couldn't have said it better myself.
http://honeysbobbrinkerbeehivebuzz3.blogspot.com/2014/

[GFB]

So she says Brinker said "what a wonderful economy we have."

If you heard him yourself, you know he said nothing of the kind.

He said the economy is growing moderately.

[GFB]

I was flying to Asia yesterday, but I have now heard the first two hours.

He did have some funny calls. One idiot actually said the economy is shrinking.

[planosteve]

I was flying to Asia yesterday, but I have now heard the first two hours.

He did have some funny calls. One idiot actually said the economy is shrinking.

He was probably talking about the real economy.

[GFB]

I was flying to Asia yesterday, but I have now heard the first two hours.

He did have some funny calls. One idiot actually said the economy is shrinking.

He was probably talking about the real economy.

Oh yes, of course.

What's that"s "only the Shadow knows" site you like to post?

[GFB]

I guess all those earnings reports lately were all made up.

All Of the major Corporations get together to cook their books.

I guess Amazon and one or two others forgot to.

[planosteve]

You don't understand what I mean by the real economy. It is measured in real goods and services and the number of people of working age who are working. Measuring the economy in fiat money is bogus. That's the way the govt. and the FED does it.

[GFB]

You don't understand what I mean by the real economy. It is measured in real goods and services and the number of people of working age who are working. Measuring the economy in fiat money is bogus. That's the way the govt. and the FED does it.

It's not about this money or that money.

It's about, did the nation's GDP grow in a given time period..it did..If more companies are manufacturing things..they are..if more goods and services are being provided..they are...if more office space and other facilities are being utilized..they are..if more people are being hired..they are..then the economy is growing..it is.

They'll always be sob stories..the trick is, try not to be one of those.

[planosteve]

You don't understand what I mean by the real economy. It is measured in real goods and services and the number of people of working age who are working. Measuring the economy in fiat money is bogus. That's the way the govt. and the FED does it.

It's not about this money or that money.

It's about, did the nation's GDP grow in a given time period..it did..If more companies are manufacturing things..they are..if more goods and services are being provided..they are...if more office space and other facilities are being utilized..they are..if more people are being hired..they are..then the economy is growing..it is.

They'll always be sob stories..the trick is, try not to be one of those.

When the FED injects a billion fiat dollars into the economy it creates nothing. No goods,no services. It doesn't go to people who would spend the money to buy goods and services. It goes to the banks. They speculate with it buying stocks or real estate which creates bubbles. The "growth" is phony. No goods or services are created, just bubbles.

[GFB]

You don't understand what I mean by the real economy. It is measured in real goods and services and the number of people of working age who are working. Measuring the economy in fiat money is bogus. That's the way the govt. and the FED does it.

It's not about this money or that money.

It's about, did the nation's GDP grow in a given time period..it did..If more companies are manufacturing things..they are..if more goods and services are being provided..they are...if more office space and other facilities are being utilized..they are..if more people are being hired..they are..then the economy is growing..it is.

They'll always be sob stories..the trick is, try not to be one of those.

When the FED injects a billion fiat dollars into the economy it creates nothing. No goods,no services. It doesn't go to people who would spend the money to buy goods and services. It goes to the banks. They speculate with it buying stocks or real estate which creates bubbles. The "growth" is phony. No goods or services are created, just bubbles.

Steve, you're completely wrong if you are trying to say that goods and services, manufacturing, and the other things I mentioned, are not increasing.

These things are measurable..and are right out there for everyone to see.

..regardless of what the FED did or didn't do, and regardless if they deserve the credit, or not.