Saturday, November 07, 2009

The Investment Linebacker Just Saved Or Created 491 Jobs

We stand by that 491 number until we are otherwise proven wrong.

Oops, it turns out someone is actually going around trying to verify these bogus jobs "saved or created" numbers and discovering that the numbers are exactly what we all inherently already knew: they are a fantasy.

"I am shocked, shocked that gambling is going on here."

Specifically, The Sacramento Bee has been busy researching the 26,156 that the Cal State University system claims to have created or saved with their share of Federal stimulus money. Only one problem: it seems only a fraction of those were actually ever at risk - so how can they be saved or created if they never would have been lost?

So what?

TILB guaran-damn-tees you that nobody cares that The Administration has no ability to prove the accuracy of its claims. Yet that does not seem to matter.

So what if the whole number is a fraud? So what if those jobs that actually are "saved or created" are really stolen or destroyed in other areas of the global economy*? Who even cares? Our president gives great speeches, after all. What else could you realistically hope for in a leader? Hint: see video below for an answer - then visit

Anyway, here's a link to the Sac Bee's article on the Cal State reporting debacle.

* Just think about it, the capital used for the stimulus program comes from three primary sources: 1) explicit tax dollars; 2) borrowed money via Treasuries (e.g., China lending us money); or 3) freshly printed money (which is simply the theft of some value from all pre-existing money). The implication of this three source limit means that in order to "stimulate" the economy, we are actually taking money or wealth from other parts of the economy.

Who is more likely to productively deploy wealth into job creation: private citizens or 500 odd horse trading politicians inside the beltway? The answer is obvious on its face. Thus we know that stimulus is actually the opposite: it is the suction of capital/wealth out of generally productive hands and redeployed by generally non-productive hands.

It is nearly universal that stimulus programs cost jobs always and everywhere.

We can do better than the status quo.