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The Real Reason
Published : May 09th, 2012
116 words - Reading time : less than a minute
( 1 vote, 4/5 ) , 1 commentary Print article
 
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Keywords :   Jamie Dimon | Jp Morgan | Reality | Total |

 

 

 

 

In "U.S. Economy Has a ' Royal Straight Flush' - Jamie Dimon," CNNMoney reports that

 

when asked why, at a time of record profits, Corporate America isn't hiring more, [JP Morgan CEO Jamie] Dimon said American businesses had added 4 million jobs in the past two years."

 

What he failed to mention, however, was that Corporate America had shed 8 million jobs in the two years before that, based on data on total private payrolls from the U.S. Bureau of Labor Statistics (i.e., Series CES0500000001).

 

So, in reality, Corporate America has actually eliminated 4 million jobs over the past 48 months.

 

Could that be the real reason why Mr. Dimon is "overwhelmingly optimistic"?

 

Michael J. Panzner 

 

 

 

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Panzner, you forgot to mention the Aces & Eights dealt to us Working Stiffs. Read more
Gypsy - 5/10/2012 at 1:39 AM GMT
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Michael J. Panzner

Michael J. Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes, published by Kaplan Publishing.
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Panzner, you forgot to mention the Aces & Eights dealt to us Working Stiffs.
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