Jack Welch Defends Jobs Conspiracy Theory
Compares backlash to 'Soviet Russia'
By Kevin Spak, Newser User
Posted Oct 10, 2012 10:09 AM CDT
In this Sept. 27, 2006 file photo, former General Electric CEO Jack Welch addresses students at the Massachusetts Institute of Technology, in Cambridge, Mass.   (AP Photo/Elise Amendola, File)

(Newser) – Jack Welch took to the Wall Street Journal's op-ed page today to double down on his assertion that the Bureau of Labor Statistic's latest unemployment numbers look too good to be true. The ex-GE CEO's accusation drew a massive backlash, which he says seemed like something out of "Soviet Russia" or "Communist China." Welch says the number still seems fishy to him, pointing out that they indicate the largest number of workers added since 1983. "I doubt many of us know any business person who believes the economy is growing at breakneck speed."

Welch quit his columnist gigs with Fortune and Reuters yesterday, after both outlets published stories about his comments, and Fortune editor Andy Serwer criticized them on Morning Joe. "Jack Welch has left our building, metaphorically that is," a senior Fortune editor wrote in a post titled "Welch Can't Take the Heat." In his email to the publications, Welch told them about today's Wall Street Journal piece, Bloomberg reports. "In terms of traction, it's just a better fit for us," he wrote. Click for Welch's full column.

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Showing 3 of 64 comments
Oct 11, 2012 9:19 AM CDT
Yeeeessss...because disagreeing with an American Jillionaire is "soviet". Obviously, when Jackie-Boy says the sun comes up in the West, and is green,anybody who points out his errors is "soviet".
Oct 11, 2012 7:21 AM CDT
There are people wishing doom and gloom on the US at this time so it will reflect badly on Obama. I don’t like Obama and increased gov debt..And I do like improvements to the economy and jobs.. Russia and China have reasonable good policies of promoting their selves.. Economically and morally.. I think this can be very healthy for their nations.. If we need to have a conspiracy to make people believe were doing better.. And it results in the nation doing better.. Then so be it.. The Paul Harvey radio show was popular in the south several years ago.. it was likely pro Regan/Bush. But he always presented and spun the nation’s health as positive.. While others tried to tear it down for the hatred of the current politics. We need more of the positive today.
Oct 10, 2012 11:40 PM CDT
He's a Republican. He doesn't like the numbers and he can't accept the reason for the numbers, so he comes up with a massive conspiracy theory, a theory that even the heavyweights in his own party don't buy. And then, after a slew of experts have said that skewing the numbers is virtually impossible for the President to do, idiot Jack doubles down on his paranoid theory. Go away, Jack. Your credibility is all shot to hell. Nobody is paying any attention to you.