By the Numbers

" Wall Street on its -- today up 200 despite a weakening dollar Friday's dismal jobless report Fannie Freddie. Asking for yet another government bailout what gives what's the real economic story let's take a look at. The news but the numbers -- put my appear here it is ten point 2% unemployment that means. Fifteen point seven million people unemployed. Also hope even -- point seven million people. Under employed what does that mean that means you're looking for a job are you taking a part time job even though you need a full time job to feed your family. Eight trillion dollars household net worth. Gone vanished could put you -- Also -- Freddie looking for twenty billion dollars you didn't hear this last week. Thursday Freddy got Fannie Mae looks for fifteen billion Friday were heard Freddie Mac needs 5000000020. Billion on top of the already eighty billion. Of your taxpayer money. That they're gonna need to stay afloat. Oh yeah what some good news here's the good news thirty billion dollar bonuses guess who gets don't. Goldman Sachs. Morgan Stanley JPMorgan Chase. They're gonna take thirty billion dollars in bonuses as hall segment saving or creating jobs here -- golf club this. This is from the government's website recovery dot org bit of recovery dot -- go right there it's the reinvestment act. Website 640000. Jobs 329 jobs created so far. They spent a 194. Point five. Billion dollars you know that comes out to per job. There is. Almost 304000. Dollars per job. -- as a point of reference an average teacher -- average salary in America 52000 dollars. Carpenter averages about 42000 bucks a firefighter 45 grant -- you don't does better than all of us parents members of house. In -- a 174000. Dollars. Enough to drive you crazy here's David -- He's the an adjunct professor of organizational leadership at Columbia University. Sir thank you very much if I'm wrong -- you might."

" My -- guys who -- that pretty frightening numbers are principally can jump in the and I'm wrong when I know you got the numbers that frightening thing is as you've got the unemployment rate which is. Spoke to peek at a nine point two was the administration suggest we're ten point to -- it. Not only that you've got 300000. Dollars per save jobs created job anyway you want a measure. At the best as the government identifies that. 300000. Dollars when he got some people making 50000 dollars -- about six or seven of them to work for the cost of one single job we're not we're not. That efficient we're not Orkut is and now all of -- hearing is more stimulus we may need yet another stimulus package what we've spent a 194 and -- billion dollars of the 787. Billion so far we haven't spent a very well now we can not only very well we haven't been very much but we're still bloat it. And then they're talking about dinner every march we get to march they -- second sting most what does that mean it is all as says it's been said before Astroturf is all fabricated. Or four or created. Well in the system it's not wealth for the individual to welcome the system which goes away once they stop stimulating if you go to recovery dot gov you see it a map to the United States. If you click on any state. It opens up that state in literally thousands and thousands of programs either to grant. All loan. Another program -- Eric it's a giveaway but here's the question. We are all jobs but jobs are being created where fifteen point seven million people out of work they're cannibalizing a small businesses and that's the big challenge to small business owner. Cannibalizing those in an effort to sit there and what what put in construction jobs out on building bridges and building roads. In -- they're opening ten homes and creating small business opportunities there. These are jobs that are not investments they're sunk cost that will go away. And therein lies the biggest challenge -- just throw this out here I read this I couldn't believe it recovery dot gov again the government of Guam. Is gonna get eighty million dollars and 88 million dollar award. Created -- guess how many jobs are created. -- Jump what are we doing but I. So costs what was different they're not investments and investment says it's going to drive revenue. Building a bridge doesn't drive revenue to put somebody to work for a season and -- identified over the that did -- number of jobs that are 27%. If you really look at the total amount underemployed or unemployed. Those jobs are temporary or unemployed we're not. Not even providing long term opportunities for people to be employed the -- stock -- where 203 points in the stock market -- did not -- been doing just fine how was that -- that he will be investing between now next Tuesday and not only that they're investing in assets that are going up in value. Because they're borrowing at 0% interest rate large discussion item there but the reality of it is is it's overseas it's not going to be here they're betting on inflation to talk to me a little bit about Fannie and Freddie they -- twenty billion dollars more monies are the people who -- all most of good portion of the loans home loans. In America wanted -- well this is that this is big government nongovernment entity this is where they say. Where did they run the free market but they don't now they're looking for a backstop the problem without talk about moral hazard the idea that we continue to fund them they blow it. We fund them they'd blow what they want more to be able to keep sustain we're not sustaining those small businesses that should be sustained were sustaining those things that fail. Large institutional government quasi government organizations that can't function -- Can Wall Street but today Goldman Sachs Morgan Stanley JPMorgan Chase can pay thirty. Billion dollars in bonuses not he'd always in money bonus money how can he do that well the -- the -- the troubling part of it is is they've got bailout components here. And that's the challenge if or free market and they were really liked A-Rod. He's worth it to somebody somebody's willing to bet it's a different issue in my view of things the premarket runs this is not a free market issue they got backstop they can't fail the government protects them. Now when they have the upside we don't get -- to shareholders. The government doesn't get it we don't get a -- they give it to those that are receiving bonuses Daryn that's the problem is they got the bailout professor how to feel -- I'm a little bit nervous about small businesses are united in fainter and now I'm not Democrat -- bad -- there. That day about their Columbia University -- I think --"