[Chgogal]

On Varney this morning Scott from CME asked this question: Can someone explain to me that unemployment when from 10% to 4.9% and the all the while the economy is shrinking? Explain that to me.

The guest economist, John, answered: That is a great question. I am shocked. I saw the this latest report on GDP, the YOY growth rate for GDP for the 2nd quarter is 1.2% while jobs grew by 1.8%. That makes no sense. That is like negative productivity.

[cp124]

That is because all of the numbers from the government are fudged. I don’t beleive any number from government.