Tuesday, October 09, 2012

He was my hero, once - Jack Welch

Jack Welch wrote an essay at Wall Street Journal defending his "questioning" of the latest job data on twitter. If those twits could be explained as lack of understanding of how BLS works, this piece proved that he is and was just trying to manipulate the public opinion.

I am no expert in labor statics, but all the economists who I respect and have followed in years agreed, republicans included, that it was impossible to manipulate the data. The trend line of the data agrees with overall big picture and other data, such as car retails etc.

To question the government data is one thing, to accuse the President of United States manipulating a key piece of data without any proof is another.
The data could be biased, skewed, or just an outliner due to statistical error. Manipulating the data could be a felony but I don't think any of the truthers can provide something to the DOJ.
Pointing out that the data contain errors and it is not golden is OK. We can try to compensate for the bias, take into account the statistical error, and we can defer our judgement till later. Data are all like this, but it is trust-worthy. Jack, don't dismiss it when you don't like it, and cite it all the time when it is in your favor.

Repressing the freedom of speech by the government is one thing. Pointing out the lies by experts is totally another.
Repressing of the freedom of speech happens in Soviet Russia or China. And the repressed do not have the opportunities to write a long defense on one of the most respected and widely-circulated newspaper. Questioning the sitting president does not absolve you from legitimate refute. 

Trying eliminate those differences, and implying that he was targeted based on political reasons by the government is flat out lie.

The WSJ piece contains certain valid points, but overall it is just propaganda. I sincerely doubt how much Jack knows about the real American economy. GE is a giant, where the head of a $1B business can hardly get face time with the CEO. I don't think Jack knows any one who is struggling to find a job. Not even his almost criminal friends once headed the Wall Street firms need to do that.

Here we are. One of the parties is determined that defeating a sitting president is job No.1 and will not even hesitate to kill any measures that could help the perspective of getting him reelected, even if, especially if that measure would help American people. When the number is going up, sending the heavy weight to publicly devalue the data, to stir the water, and at the same time, the campaign can play safe.

No wonder that same party wants to kill PBS and NPR. If they can, they probably are going to kill anything which is not Foxnews. 

Unfortunately, it works. At least if judged from the comments on the WSJ website. When only half the population believe that the President is even eligible, it is so convenient to accuse him of not cooperating. If we have poll today about the BLS data, it would be fairly close to the birth certificate one, I bet. It is a success of the GOP.

So, let's back to the definition of a moderate Republican. It used to some one who is willing to support tax increase under circumstances. Now any one who think that President Obama might have been born in the United States is definitely a moderate. Today, any one who thinks that President Obama did not manipulate the BLS data is already is a moderate, or a traitor to the GOP, who is trying the repress the respectable almighty Jack.

Mitt Romney might be a competent president, but he will bend to the pressure from his own party, just as he did in the primary. It scares me to imagine such an extreme party to control both chambers of the congress and the White House. And they may appoint more justices who think corporates are people, but care about the well beings the insurance companies more than the uninsured. 

So, Jack, you have enjoyed your retirement; why are you doing this?

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