You know you're in the summer of recovery when both the Wall Street Journal runs editorials titled "It isn't working" and "Why I'm not hiring" and the New York Time's front page story is "U.S. Lost 131,000 Jobs as Governments Cut Back".  Listening to the White House and then analyzing economic data is like participating in an episode of the Twilight Zone. In the Time's article we also learn;"The Labor Department greatly revised its headline number for June, widening the job loss figure for that month to 221,000 jobs, from 125,000. Private sector hiring in June, originally reported at 83,000, was lowered to 31,000" The people that are supposed to keep track of the number of jobs created from month to month got the number of private sector jobs wrong by 168 percent last month.  So the "it's getting better" number that was reported in June was actually much worse.   With example after example of this type of...(Read Full Post)