Wealth Manager Butowsky Urges Probe Of Obama Jobs-Data 'Farce'

by JASmius



Evidently Ed Butoswky hasn't learned from Jim Clifton's example:

The strong January jobs report had many economists turning cartwheels, but don't believe the hype, Ed Butowsky, managing partner of Chapwood Capital Investment Management, told Newsmax TV.

The official data indicate that non-farm payrolls increased more over the past three-months than in any other such period over the past seventeen years.

But some economic experts, including Gallup CEO Jim Clifton, question the veracity of the statistics.

"There should be a lot more investigation into these government numbers," Butowsky told the Steve Malzberg Show on Newsmax TV. "The more people analyze them and understand where they come from, they'll realize what a farce they really are."

Even the government acknowledges that the labor participation rate stands at only 62.9%, just twenty basis points above its 36-year low, he said.

And, "what's getting lost in this conversation is how many full time jobs we need to make and why," Butowsky said. "The average full-time job is $12,500 into the federal government" through tax revenue.

"We are short every year about $500 to $600 billion in terms of our budget deficit," he said.

"So we need to create about 500,000 new full-time jobs a month just to get us to the point where we can pay our bills every year."

Non-farm payrolls rose 257,000 in January. "When people are elated with 250,000 new jobs, that's only halfway there," Butowsky said. "And that 250,000, the majority of those jobs are part-time." [emphasis added]

Or, in other words, there aren't any real jobs being created, and haven't been for the past six years.  And, if Barack Obama gets his way - and there's no reason to think he won't - never will be ever again.  Which, come to think of it, does go a long way towards explaining why he's so hung-up on goosing the minimum wage to such ludicrous levels.  Which would, in turn, destroy all those "jobs" he requires us to believe are being "saved or created".  Makes perfect sense, doesn't it?

The only flaw in Mr. Butowsky's logic: Who would investigate the Obama Regime over its blatant unemployment deceptions?  The media will never do it, as they're too busy serving as The One's propaganda megaphone.  Congress?  Darrell Issa's plate has been overflowing for years, and if the national legislature fully investigated every last one of O's scandals, they'd never do anything else.  Which leaves the Regime to investigate itself, I guess.  And we know how effective they are at self-policing, now don't we?

Mr. Butowsky would be far better advised to cover his own ass against the proverbial knock on the door in the middle of the night.  Because no amount of denials that his truth-telling "isn't political" will protect him from the wrath of a Regime that sees all dissent as "political," and has zero-tolerance for it.

Just ask Mr. Clifton.