The Labor Department on Friday announced that U.S. employers added 146,000 jobs in November, pushing the unemployment rate down to 7.7 percent. However, as noted earlier on TheBlaze, this figure is due in large part to the number of people who have given up looking for work.
Particularly unhappy with the lackluster report is CNBC’s Rick Santelli, the man commonly credited with starting the Tea Party.
“A 1954 Studebaker Lark has more momentum than this economy!” said Santelli, referring to the fact that the labor force participation rate has dropped 63.6 percent.
“The people who run the country – on both sides of the aisle – they love to get elected and they also love to fib about the statistics in any way they can,” he adds. “Once again, I think my common phrase these days is: Shame on all of them.”
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Mr Sanders
Dec. 10, 2012 at 12:46pmU U 6666
U U 6
U U 6666
U U 6 6
UUUU 6666
Its what keeps it real!
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Mr Sanders
Dec. 10, 2012 at 10:05amRick Santelli…. keep telling the brutal truth – people need this!
I think Rick ought to write a book…. or someone ought to write about this fine gentleman and the title of the book should be “The Brutal Truth: Calling It Like I see It” It would be even better if it was an E-Book so you can insert all the Youtube’s as reference material.
Rick – I’ll invest with you. I want my Broker to slap me in the preverbial face once in a while and say,”Hey! Wake up!”. Who needs a monotone drone managing your funds. I want someone with energy, someone who will tell me the truth as they see it, is not afraid to make the hard calls, and will stick to his principles/guns while doing what he loves.
Just keep sticking it to them Rick – you’re one of the few that’s out there telling the truth and keeping Free Market Principles in play!!! Thank you!!!!!!!!!!!!!
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Cosmos102
Dec. 9, 2012 at 7:05pm“This economy has all the momentum of the Chevy Volt”, would have been better.
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dosdelgados
Dec. 9, 2012 at 11:37amQuestion: if you quit your job, are you considered unemployed? Does “unemployed” only apply to those who seek jobless benefits? That seems like a screwy way to keep statistics!
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RamonPreston
Dec. 9, 2012 at 11:11pmFigures don’t lie but liars can figure. Figures can be made to prove anything you want them to.
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Motoko53
Dec. 10, 2012 at 7:28amYes, the widely reported unemployment figures (known as the U3 number) only count those who are actually receiving unemployment benefits.
The actual unemployment number, U6, counts everyone without a job, including those who have run out of unemployment benefits and those who have given up looking. The government and the media don’t want you to focus too much on this number so they hype the U3 number.
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nostromo
Dec. 9, 2012 at 11:05amI think everyone has figured out by now that all these numbers and statistics are just a theater of lies. There is now a permanent underclass in America that doesnt look for work, doesnt teach their kids to work, and collects benefits. Toss in public employees and the old individualistic, self reliant American model is dead. The future is collectivism and dependency. In just one generation. Who would have thought?
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OneTermPresident
Dec. 9, 2012 at 9:13amThere’s a glacier… gaining on Obama’s economy.
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term limits for congress
Dec. 9, 2012 at 9:08amI don’t believe anything I hear from the regime. I think I’m going to start smoking.
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G-WHIZ
Dec. 9, 2012 at 8:23amThe [Sudebaker GrandTarisimo] was one of the fastrest production cars in the U.S.A.! Because of no-leaded lo-octaine gaoline at the time, it’s extreenely-high compression would cause much valve-burnning if used on the raceway or even an occasional veryfast “useage”. One neighbor(1950′s) had this car and about once-a-year needed a “valvejob”. There were no “Sodium-cooled” or other refined valves and seats to be found back then.
I understand his “comment” but he really should get his facts-straight before speaking!!
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mikejpss
Dec. 9, 2012 at 8:51amIdiot. Rick should have checked with you then, right ?
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loriann12
Dec. 9, 2012 at 9:10amMy dad owned 2 Studebakers, a 1964 Lark and a (I think) 1959 Hawk (in Tahiti pink). Studebaker only went out of business because it was ahead of it’s time.
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db321
Dec. 9, 2012 at 9:36amG-Whiz – I see Studebaker’s everywhere I go – What Momentum – If our Economy goes the way of the Studebaker, then leaches like G-Whiz will not be able to get his Welfare, Food Stamps, and Free (not free) Obama Care.
You can not even make a Hypothetical point with a Liberal. Hey G-Whez this should make you not be able to sleep at night – The Earth is not flat it’s round.
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taintso
Dec. 9, 2012 at 7:38amThe good statistic would be Obama moves to Kenya and raises the I.Q. average of both Countries.
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kamerican
Dec. 9, 2012 at 7:15amWhat about all the local, state and federal workers who have been added to this?
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BehindBlueEyes
Dec. 9, 2012 at 6:42amI heard that 72% of the jobs “created” in the last 5 months were government jobs. I wonder where the money to pay them comes from?
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taintso
Dec. 9, 2012 at 7:34amThe real question will be where is it coming from when we are all government employees/property?
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BehindBlueEyes
Dec. 9, 2012 at 8:10am@TAINTSO
That would be the master plan (a.k.a. Communism).
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loriann12
Dec. 9, 2012 at 9:11amI don’t know the percentage, but I heard a lot of the jobs were seasonal part time jobs.
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LESNC
Dec. 9, 2012 at 12:58pmLook in the mirror, that is why obama needs tax increases
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Willik
Dec. 9, 2012 at 6:37amThere are liars, damn liars and statistics! I can’t tell the difference between them. Can you?
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SGT Rock
Dec. 9, 2012 at 4:59amIf they wanted to know the actual number of real unemployed just look at the taxes that people claim. Right there you will see they either make less or nothing (on programs or destitute). By walking around and talking to people I think the actual true unemployed are round 35-40% but that would pop an artery so the must lie, both side do it.
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TheePolitinator
Dec. 8, 2012 at 11:44pmDon’t worry it’s still Bush’s fault. Name one thing the Demonrats have done? Besides dismantle the Constitution, add 6 trillion in debt, grow the police state. And steal elections. People are so ignorant and apathetic. I am ashamed at any American supporting this crap.
Food fuel all way up. And it’s going to get worse. Even more troubling, the men and woman that fight for this nation, didn’t even get to vote. This has to stop I say we launch a massive protest.
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oxycontinxx
Dec. 8, 2012 at 10:38pmsantelli for president !!!!
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fedup ohio
Dec. 8, 2012 at 9:43pmRick is the man. Love him. They should remove Steve Liesman.
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pezstude
Dec. 8, 2012 at 8:45pmThe Studebaker Lark first appeared in 1959, not 1954.
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Normanator01
Dec. 8, 2012 at 10:12pmwell…..that changes the whole context of the story…..hehe
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JeffDeWitt
Dec. 9, 2012 at 7:21pmThat works… this economy has about as much momentum as a car that hasn’t been built yet!
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homebuilder
Dec. 8, 2012 at 8:36pmThe unemployment rate has been a fictitious number for several generations. How can you not count people that have stopped looking for jobs because the economy is too bad? How can you count someone that has lost a full time job and now has a part time job as employed? They are at least trying, but they don’t have a full time job.
I guess they will one good thing will come from obama care. We will have many more part time jobs to keep stay under the threshold for the insurance requirement. This will likely decrease the fictitious number even more.
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Rald277
Dec. 9, 2012 at 9:05amThe idea that people have stopped looking for jobs is BS. What they are doing is not reporting their job search results to their state labor board once benefits have run out. Why file a weekly search report after your benefits have been exhausted? I believe the true numbers would blow the public’s mind if it were released.
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nighttrainno9
Dec. 8, 2012 at 8:23pmThe only thing that dropped their FALSE unemployment rate
was all the people hired by the govt. and we really don’t need that.
We actually need to get rid of half the govt. WORK force (sarcasm) and all the
welfare cases that are able bodied. We are paying these welfare
cheats to have as many kids as possible, all with
different fathers. They need to be penalized for having kids if they
can’t support them. If we cut off the money to the govt. maybe
some of this crap will end.
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oxycontinxx
Dec. 8, 2012 at 10:41pmspeaking of fathering children……………..how about the 33 year old man who produced 30 (THIRTY) children by 11 different women……………
brings new meaning to the phrase ……………..required castration………….
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homebuilder
Dec. 8, 2012 at 8:23pmI continue to be surprised that cnbc has not removed Rick Santelli. He is one of the only people that argue with facts with that network. He makes a mockery of the other pathetic so called reporters. I am surprised that the network allows him to show how increasing taxes will never solve the problem using IRS data. He is one of the few that will actually argue using facts not opinions.
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