Famous Southern-born investor and media personality Jim Rogers cast doubt on the latest US unemployment numbers as well as the trust-worthiness of the US Federal Government. Crystal Hsu has the story for Taipei Times:
Jim Rogers, a top global investor and co-founder of the Quantum hedge fund, yesterday said he is skeptical about the reported improvement in the US job market and that the latest round of quantitative easing will not fix the US economy.
The US jobless rate dropped to 7.8 percent last month, the lowest since US President Barack Obama took office in January 2009, according to a report released on Friday by the US Department of Labor.
The labor agency also revised previous numbers to show the US economy created 86,000 more jobs in July and August than first estimated.
“I have learned not to take advice from the government, especially the US government, which frequently misleads its citizens,” Rogers said in a media briefing in Taipei.
There is an election coming in the US and the administration wants to win, he said, adding that most other institutes believe US unemployment remains worse than the official statistics suggest.