The White House Claims One Million Jobs Saved/Created- According to Their Model, Of Course

Travis's picture

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Sardonicus's picture

making signs for projects that should be a part of routine mainetence budgets, not special expenditures:

http://www.fox8.com/news/wjw-stimulus-signs-txt,0,7422868.story

Mos's picture

$787 B divided by 1 million jobs=$787 thousand per job

 

Money well spent....

 

Okay lets be fair, lets say through the life of the stimulus plan 2.5 million jobs will be created.  Then it's only $314,800 per job.

Anonymous's picture

Let's be even fairer. Creating 3.5 million jobs is $ 224,857 per job. Then creating a billion jobs is......

bonddude's picture

I'd like to be the Soprano gettin' the vig on that deal cuz that's gotta be 3-4x what's in dude's paypack.

E Thomas St.'s picture

Exactly what I said in another thread. This is a terrible way to spend money if the goal is merely keeping people from being unemployed (which it isn't).

Sardonicus's picture

Probably huge surges in credit counseling and suicide prevention staff nationwide as well.

Howard_Beale's picture

Off topic--Harvard still the top loser with Yale only down 30% in the last year.

Cheeky Bastard's picture

for the quality of students Harvard puts out; they should've gone bankrupt years ago. Overrated university with even more overrated graduates. Maybe 10% of Harvard graduates would get their diplomas if they were enrolled in one of the top EU universities; i.e Gottingen or Heidelberg. It is a well known fact that people go to Harvard to make connections, not to actually gain some respectable education. Harvard has become a meme. Nothing else. And im glad they are down 30%, should be more if you ask me.

ZerOhead's picture

Hey Cheeky... My brother did a post doc there. Got a huge research grant and moved it to another gig. Ha ha ha ha harvard...

Cheeky Bastard's picture

sorry ZerOhead. I should've make my statement more clear. I primarily addressed their MBA and Economics departments. The rest is good; they have a good math department; or they used to; i'm not sure if Barry Mazur still runs the show there. The rest is mediocre at best. For me; Princeton is number 1, has been, is, and will always be.

Howard_Beale's picture

So you approve of the former head of the Princeton economics department? C'mon.

Cheeky Bastard's picture

Harvard or Princeton ? I was thinking in therms of the quality of courses and pedagogic approach of Princeton vs. the same thing at Harvard. I don't have any idea who either Princeton's or Harvard's former head of econ-dep is. enlighten me.

Howard_Beale's picture

I think his name is....uh, give me a moment, oh yeah. Ben Bernanke.

Cheeky Bastard's picture

LOL. Fuck it; i'm not omniscient; thanks for reminding me. But to be fair; he's an excellent academic ( IMHO ) but an utter FAIL when it comes to get shit done in a orderly manner. Or get shit done for that matter. Knowledge without execution is like a gun with no bullets. It can only get you so far when shit hits the fan and you need to stard shooting at something/ someone. http://bewilderedsociety.com/blog/wp-content/uploads/2008/09/20080923__82875236aw011_senate_holds_failp1.jpg

 

 

Howard_Beale's picture

I love you CB...just having some fun!

Hephasteus's picture

Standford University is the biggest of the sewers.

Gordon_Gekko's picture

They should be bankrupt by now if you ask me. Why doesn't someone just put them out of their misery? Perhaps the US Dollar going up in flames will accomplish that task.

Cheeky Bastard's picture

hey man; they have Larry " i sleep in the most awkward places " Summers there. And that means there's a bailout waiting somewhere if SHTF. And like 80% of fortune 500 execs are Harvard MBA's.

ZerOhead's picture

Hey he did great work in Lithuania and Russia didn't he? Drove the stake right through the heart of the beast...

Hey where's that turd sandwich working these days?

Anonymous's picture

YES! You want to find genuinely bright students, look at U of Chicago; mostly bright students also making connections, look at Yale, Dartmouth, and Brown. I have yet to be impressed by any Harvard grad I've met - except by the size of their egos.

Pork Fried Rice's picture

And how much the 2 managers of their funds make last year?

 

Meanwhile the Yale formula of entrusting the fund to over a hundred talented managers and stick with them long term is actually winning

Daedal's picture

Just like they'll 'save' money on public health care.

Printfaster's picture

The one million must be the sum of all the birth/death model jobs that were created.

I guess we need to go to the graveyard to find these jobholders among the silent majority.

 

Cursive's picture

I was going to post this.  Imagine what the real number is w/o the BS from the BLS.

Printfaster's picture

Hey these were green jobs.  By moving to the graveyard, these green jobholders saved millions in carbon credits.

And they are pushing up green grass above them.

 

thegreatsatan's picture

more like Soylent Green. Beware new wonderfoods on the market.  Soylent Green is People!

ddtrader's picture

Filet O'Fish here we come!!!!

Missing_Link's picture

Ah!  So *THAT'S* where the green shoots are coming from!

mule65's picture

It's too painful being short.

straightershooter's picture

Yeah, I believe the whitehouse did create a few jobs down here in the scenic route. God damn it. Every few hundred  foot, there is either a sign  of " do not pass" Or "pass with care". I wonder what the double yellow line on the road means..... That stupid whitehouse stimulus package. Now I guess there will be a few more jobs created by removing the annoying and stupidity sign of do not pass and pass with care after enough complaints are lodged.

earnyermoney's picture

As long as 3.5 million people are employed at the conclusion of 2010, it's a true statement. Of course that means the unemployment rate will reach historic levels.

Anonymous's picture

http://blogs.wsj.com/economics/2009/09/10/sf-fed-economist-suggests-2-in...

Fed laying foundation for high inflation rates to come. aka do not expect them to a) raise rates, b) prevent future bubbles, or c) preserve standard of living and d) blow up the dollar (poor people who remain in dollars going forward).

Sancho Ponzi's picture

Travis:

I've been hating on your avatar cuz it looks like someone whacked the top of your head with a machete, so I Gimped you a new dome. I'll attach to an email and send to tips@zerohedge.com in case you want to use it.

Anonymous's picture

Do Japanese auto jobs count? Cash for Clunkers certainly saved a few jobs there.

Cheeky Bastard's picture

i plan to submit my application to the Treasury for 2 trillion $ line of credit with minus 25% rate; with nothing but a promise that i will either save/ or create 2 million jobs. I think that would suffice for me to get the funding. And also i plan to re-locate the funds i receive to the development of i-phone applications and Internet start-ups which do nothing except spam peoples e-mails every 2 minutes with notifications how their friends send them a goat via " Send you a goat " application and how the got a " Fuck you Hank Paulson " fan page reuest.

Hrundi V. Bakshi's picture

$1 million per job saved or created seems to be a fair rate of return however if you can save 3 million jobs i will give $4 trillion those are the returns i can live with.

tradertim's picture

there is no metric for determining how many jobs were saved so they can claim any number they want.

just so you all know...i saved 2 million jobs and you can't prove otherwise. naner naner :))

im gonna call Michelle Caruso Cabrera Conchita Alonzo Herrera Fernando Gonzalez and tell her the good news of how many jobs i saved.

i feel an interview with Dennis Kneale coming on.

Veteran's picture
“Oh, people can come up with statistics to prove anything. 14% of people know that.”

 

-Homer Simpson

Anonymous's picture

This is a true joke. A Russian colonel was reporting to his general how much gasoline, ammo, etc, his unit had saved. "So where did you store all that stuff?" asks the general. "Oh, that wasn't a problem" replies the colonel, "we never got it in the first place".

JohnKing's picture

Yummy White House chatter so much better than cable chatter.

 

Anonymous's picture

What they failed to mention 1/3 of the jobs were printing press operator, 1/3 were ink manufacturing jobs and the final 1/3 was paper manufactures.

Anonymous's picture

+10

AN0NYM0US's picture

John Mack announces retirement and the way Bloomberg is talking its the financial equiv of Teddy Kennedy going to meet his maker  - (that is the revisionist version of TK)

Steak's picture

An angry populace too preoccupied with the daily struggle that is life in the USSA was unable to directly respond to this BS pronouncement.  So they sent...the monkey

 

 

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max2205's picture

He Lies!!!  lol

 

The only thing getting better are the markets...period.

 

Everything else is in the toilet or making it's way into the rim.

 

 

civilmanus1's picture

the FASB must be allowing them to use Mark to Model. Not losing an extra 1.0-million jobs is the same as creating 3-million jobs.

Good Grief.

Anonymous's picture

This just in, flash update:

Michelle just checked BO's math and he got it wrong, 'course, it turns out he saved 1 TRILLION jobs!

WHOCUDANOODIT??

Anonymous's picture

even if the $787 billion dollar stimulous saves its 3 million jobs as advertized that means all those workers make an average of $262,333

if it only prevents 1 million jobs, well that math is much easier, its $787,000 a job. or the equivalent of an average goldman sachs employee.