David Rosenberg Refutes Erin Burnett's Misconceptions About The "Recovery"

Tyler Durden's picture

We like Erin Burnett: after all she is ranked 33 on the Fortune 40 under 40. Who can not like someone who has managed to get that high in the rankings on pure talent, although some recent CNBC appearances did seem to indicate a slight, shall we say, bias, when her guests tend not to disagree with Ms. Burnett's misperception of the world. Indeed, in a recent appearance on Meet The Press, the youngish CNBC anchor made some statements that go straight to errorchecking and bias validation. At 47 minutes into the  interview (extracted) Ms. Burnett says: "I think the problem is you have the fastest job creation in this recovery than you have in any recession in 25 years... Technically speaking this recovery has not been tepid." Alas, we are not sure who fed the CNBC employee these "facts" and figures, but they are patently false.

On the first item, we present the quite famous chart comparing job recoveries across all historical recessions. Alas, this chart argues for precisely the opposite of what Ms. Burnett claims - we are currently experiencing the recession with the slowest job creation in history. And based on our prior estimates, the recession will last around 85 months before we regain the unemployment rate seen at the onset in December 2007.


Yet the biggest refutation of just how "strong" this recovery has been comes courtesy of David Rosenberg this morning, who confirms that we are currently experiencing the most tepid recession recovery despite the biggest stimulus spend in history.

At 34:35 into the video Ms. Burnett says:

The economy is growing. The numbers are coming out. We're getting better - in fact, after this recession we have - our recovery started more quickly than after any other recession in the past 25 years. So it's accurate to say that we are growing and we're going in the right direction.

Sorry Erin, it's not "accurate". Enter Rosenberg:

Look at Chart 2, what is normal, 33 months after the recession begins, is that all the stimulus and lags have worked their way through the system and generated new peaks in all the economic data. On average, employment is up 5.5%, GDP is up 12%, housing starts are up 27% and retail sales are up 25%. This time around, and in the face of pronounced policy stimulus, employment is down 6%, GDP is down over 1%, starts down 47% and retail sales are down 4%.

We are confident Ms. Burnett would gladly invite someone with whom to debate these findings, although we have a feeling that someone would promptly "raise her temper", be chided for being rude, and told to never come back on CNBC.

Relevant section in the Meet the Press interview below.


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nope-1004's picture

not sure who fed the CNBC employee these "facts" and figures, but they are patently false.


Since when did TV or its content ever state that it was accurate?  In fact, the opposite now occurs.  You get disclosure statements to the effect of "the opinions stated on this channel are those of the commentators or guests and not necessarily those of CNBC".

So there you have it.  Gov't wants to feed lies, Erin et al. oblige.

The financial community is one large demonic parasite.  These limelight wanna-be anchor chicks simply don't see how they are compromising their integrity by reporting manipulated stats.  The bankers started out by using realtors to do their dirty work and flog houses.  Now, the MSM is the bankers' new bitch.



maddy10's picture

what else would you expect from GE????

To tell you the truth?????

That US is F%&*( up????

That the country is becoming a big nursing home for senile obese diabetics with strokes and amputations who will be paying whatever they have and you have for Healthcare companies and remodlled construction workers as 'nursing assistants'????????

That you may never think of repaying debt ever again?????

Go fetch

Testicular Cancer's picture

PMSing big time. Where is that St John's Wort? I would prescribe me, Dr Chad Feelgood.

SheepDog-One's picture

I saw Erin snap and lose it on some guest yesterday for 'being rude'...seems the edges are becoming a bit frayed at the pump and spin machine.

Cognitive Dissonance's picture

Erin's snapping and bunching panties were with Michael Pento, described in the ZH article that came out a few hours later.

Unless she lost her cool twice yesterday and the Pento pummel isn't what you're talking about.


thesapein's picture

Schiff had some funny things to add on his youtube blog last night about that interview, since Pento kinda represents for Schiff.


Problem Is's picture

I'm glad some one is keeping a Snappy Snatchy-Snatch score card, CD...

Votewithabullet's picture

News flash the web site your on posted the interview and the spick nick wouldnt let the super fox finish her question a half fucking dozen times but that wouldnt bother you pussies if someone walked all over your questions(sean hannity: no?)

firstdivision's picture

Questions?!? Did you watch the interview?  She made a statement that Pinto was wrong, so he told her to prove her point.  She is just a moron that knows if it is not bullish to just say they are wrong.  She threw her 2 cents in, got shut down, and took her ball and went home. 

Cognitive Dissonance's picture

Wow, looks like you've just been triggered. You should be careful with that righteous indignation. It might just get out of hand, causing you to shout insults and use profanity in an effort to remove all doubt as to your stupidity.

Takingbets's picture

Lol!! That's the best come back I've seen all week. :-)

Problem Is's picture

WOW. The last time I saw a +22 junk...

Some one said Israel was wrong about something...

This guy is in AIPAC Junk country...

akak's picture

You must not pay too much attention to the gold-bashing trolling of JohnnyBravo!

I have seen him accumulate 20+ junks easily.

Hephasteus's picture

I think you need to watch it again. Erin started putting him on a leash twice before he started doing EXACTLY what she was doing.

etrader's picture

Maybe She's just PMSsy.... >cluching at straws<

Could explain her irrationality.... ;>

Bartanist's picture

You might think that being named #33 out of to 40 is something to be proud of, but IMO it may be something that has handicapped her incredibly. To become #33 she had to sell out, suck up and create an impenetrable ego shell around what "she is supposed to be" dictated to her by the programmers.

She seemingly has no acceptance of others who have not been indoctrinated into the globalist oligarchy and rams propaganda down peoples throats as if they are baby birds that she will bite the head off of if they disagree with the meal.

I watch CNBC rarely now, but have seen her snap at people who disagreed with the program and threaten that guests will never be invited back unless they spew the party propaganda and kowtow to their rules. Hey it is their propaganda station, after all. They can decide who they invite.

As for her, maybe she was worthwhile at some point in time, but she has seemingly lost her soul... Satan takes another one ... sigh. 

MarketTruth's picture

Well, it seems that Erin is part of the CFR and am sure other insider elite 'gangs'. Odds are she gets passed around a bit, making the rounds if you will, and so it is easy to accumulate money. It is like being a member of high government or other such entities. Problem is, one sells their soul to reach such a level and generally they have no clue about the reality of hat is truly going on 'in the streets'. They find themselves in a different, and very skewed, reality where CEOs and the elite rich play. Perhaps Erin is simply a reflection of the lies she is surrounded by everyday.

If you grow up in a social circle/society that thinks murdering poor people is good, you then will probably would not think twice about murdering others who are poor. Think of it as akin to the religious nutsjobs who for thousands of years have been murdering others who have different religious beliefs (onward Christian soldier murders, Jewish Mossad, etc, etc and yes etc).

Almost Solvent's picture

Wait a sec; Religious views can cause individuals or groups of individuals to act out in a violent manner towards others who are not part of their religious views?

Why can't everyone just get along?

What's so hard about that!

Tarheel's picture

Isn't is cute how CNBC lets their anchors and journalists have an opinion on economics and the various markets? They even allow them to refute EXPERTS that appear on their shows.

CashCowEquity's picture

wow...she is dumber than a ghetto rat.

Calculated_Risk's picture

Unfortunately, the more you lie and fuck up, the higher your promoted.

She'll be president in 20 years max.

SheepDog-One's picture

'Fastest job creation ever' she says? Try to find a week where we didnt have 400K+ jobs lost WTF is this stupid bimbo on?

small watcher's picture

...WTF is this stupid bimbo on?

What is television, Alex?

Calculated_Risk's picture

I believe the correct answer is "What is a television?"


I'll take Popular Propagandists for a $1000 Alex...

Larry Darrell's picture

And you've found the daily double..........how many worthless digital dollars would you like to wager?

Dr. No's picture

I love the projected chart.  Did the author get his kid to extropolate a line and he happened to direct it upward?  Did the other kid draw his downward?   I suspect it has about the same accuracy if the project number came from the government.

Tyler Durden's picture

Actually, that's the optimistic case. You can read all about it here.

Cognitive Dissonance's picture

Optimistic is an understatement Tyler. When I read your admittedly "best case" projections I thought you were rehearsing for an interview to be the official WH propaganda wizard. :>)

chrisina's picture

What's the realistic case?

Yardfarmer's picture

bimbo alert. sex will always sell stupidity.

Cathartes Aura's picture

never-ending supply of buyers, apparently.

ZEITGEIST's picture


hedgeless_horseman's picture

She has been under 40 of the panelists?

Jake Green's picture


Who said Depressions couldn't be fun

Bartanist's picture

She is #33, so apparently 7 did not admit it.

Kayman's picture

Uhh... something about a garden hose and a golf ball ????

ColonelCooper's picture

The truest irony that Erin will realize when she looks back at her life, is not the amount of cock she may or may not have sucked to get where she is, but rather the amount she is GOING to have to suck to stay alive when this all falls down around her pretty little head.

Number 156's picture

Does anyone really watch this channel anymore?

digitalhermit's picture

Yes, watch - but never listen. It's like softcore porn.