Sunday, November 4, 2012

Jack Welch Invents '2009 Recession' And New Economic Metric To Criticize Barack Obama

Posted: Updated: 11/03/2012 12:23 pm EDT

Zach Carter

WASHINGTON -- Former General Electric CEO Jack Welch rewrote economic history during a Saturday appearance on Fox News, criticizing President Barack Obama for "the 2009 recession," while offering a new metric by which unemployment would be 11 percent.
"The real unemployment rate, if you take the last 10 years prior to the 2009 recession, a 10-year average of what's called the participation rate -- how many people are working temporarily, full-time, and wanting to work -- if you take that number, and you take the 10-year average, and you run it now with this workforce, you would have an unemployment rate close to 11 percent," Welch said.
There is, in fact, no specific "2009 recession." According to the National Bureau of Economic Research, the official committee that measures and studies economic cycles, the U.S. economy entered a recession in December 2007, which ended in June 2009. Recessions are categorized as periods in which gross domestic product -- a measure of economic output -- declines. The effects of this decline can reverberate in the labor market for years after growth resumes. By referring to "the 2009 recession," however, Welch creates a timeline in which Obama is the only president presiding over economic hardship.
Welch's reference to a "10-year average" is also curious. Ten years ago, it was 2002. George W. Bush was in his second year as president of the United States.
The official unemployment rate is currently 7.9 percent.
Welch's comments came during an interview with Fox's Neil Cavuto, in which Welch claimed that if Mitt Romney were elected president, economic growth would be roughly double what it will be if Obama is reelected. Welch based the claim on his view that heavier fracking and more aggressive coal mining will exist under Romney, generating additional economic output.
Welch garnered notoriety in October for making the baseless assertion that Obama's "Chicago guys" were fabricating falsely positive jobs data. The August and September jobs numbers Welch referenced were eventually revised upward, showing stronger growth than previously believed. This revision process is routine.

Obama Is Not An American CitizenOne of the most popular Obama conspiracy theories (aka the Birther Movement), endorsed (or not denied) by the likes of Tom Delay, Lou Dobbs, Chuck Norris and Liz Cheney, it claims that Obama is not an American citizen, thus rendering his presidency illegitimate, or something. The theory hinges on the false claim that his birth certificate is fake. Birther queen Orly Taitz (a lawyer and dentist from California) continues to lead the march, despite her lawsuit getting thrown out and a $20,000 fine.

Obama Wants "Re-Education Camps For Young People
Rep. Michele Bachmann (R-Minn.), a proponent of many bizarre and outlandish critiques of President Obama, declared in April that the White House was trying to install youth re-education camps.

"It's under the guise of -- quote -- volunteerism.
But it's not volunteers at all. It's paying people to do work on behalf of government," said the Minnesota Republican. "I believe that there is a very strong chance that we will see that young people will be put into mandatory service. And the real concerns is that there are provisions for what I would call re-education camps for young people, where young people have to go and get trained in a philosophy that the government puts forward and then they have to go to work in some of these politically correct forums."

Larry Sinclair's Rabbit Hole Of Insanity
This one is a doozy. Larry Sinclair, a petty criminal specializing in forgery, spread wild accusations via YouTube involving gay sex, drugs and possible murder committed by Barack Obama. At one point reporters apparently took Sinclair seriously enough to attend a press conference he gave, most remarkable for his lawyer's appearance in a kilt, which he explained was intended to secure comfort for his unusually large sexual organs: "Those at the other end of the spectrum find [pants] quite confining."
The Case Of The Fake Thesis
In which a group of right-wingers get taken in by a satiric blog post on Barack Obama's college thesis, written ages ago, and frantically presented as real. The post, which was tagged as SATIRE, described how Time Magazine's Joe Klein had obtained ten pages of a thesis written by Barack Obama, in which he wrote about how the Constitution was "inherently flawed." Then Rush Limbaugh and Michael Ledeen presented this story as fact.
Bill Ayers Wrote 'Dreams From My Father"
A popular theory on right-wing websites like The Free Republic, American Thinker and WorldNetDaily, claiming that educator (and former radical) Bill Ayers helped Obama write "Dreams Of My Father." There is no evidence supporting this claim.
Obama As Antichrist
Is Obama the Antichrist? These folks think maybe so. McCain also verged on endorsing this theory during the campaign season with an attack ad called "The One.
Obama As Muslim
A theory that began circulating during the campaign season and has been kept alive by Tea Partiers, and other ultra-conservatives. It's taken different forms over the year (Will Obama be sworn into office on Qur'an??, asks one website.) Most recently Tea Party leader Mark Williams had a meltdown on CNN, and claimed that Obama was an "Indonesian Muslim" and a "welfare thug." According to Obama and those who know him, this is not so.
Tells America In His Acceptance Speech To "Serve Satan"
Ever listened to Led Zeppelin's "Stairway to Heaven" backwards? How about Obama's presidential acceptance speech? This video suggests that the speech, like the Zeppelin song, contains a Satanic message when played in reverse. Go ahead - take a bong hit, try it and tell us what you hear.
Hugo Chavez Funded The Obama Campaign
Did Hugo Chavez fund the Obama campaign? No. But some people thought so after a Fox News affiliate issued a false report claiming that he did.
Michelle Banished Barack's Girlfriend To The Caribbean
One of the few conspiracy theories to go after the Obamas' marriage. The claim is that Michelle banished Barack's female aide (and suspected lover) to the Caribbean. Every person involved, including the woman, says this is false.
Obama Is Malcolm X's Son
Initiated by the author of the Atlas Shrugged blog and claiming that Obama is actually Malcolm X's son. As Ezra Klein pointed out at the time: "Honestly, who wouldn't give Malcolm props for that one?"

Klein continued: "And think there's anyway we can fit Tupac into the bloodline? Or maybe Obama actually is Tupac? You know that whole shooting was some bullshit, right? Incidentally, I see no reason to stop with Malcolm. History is full of great Xs for Barack Obama to be related to. Professor X, which would explain why millions of white people lose their minds in his presence. Weapon
X, which would explain the adamantium grafted onto his skeleton. XML, which would explain why it's so easy to structure his data. I'm sure there are others."

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