RUSH: You know, ladies and gentlemen, it’s going to be bad when a White House economic advisor comes out and warns of the upcoming unemployment numbers on Friday and says the numbers are going to be distorted because of the snow. ‘White House economic adviser Larry Summers said on Monday winter blizzards were likely to distort US February jobless figures, which are due to be released on Friday.’ Imagine if George W. Bush had tried this. ”The blizzards that affected much of the country during the last month are likely to distort the statistics. So it’s going to be very important … to look past whatever the next figures are to gauge the underlying trends,’ Summers said in an interview with CNBC.’ So basically, folks, it’s going to be in the tank. It appeared it’s going to be in the tank. It’s really not real. It was affected by the snow, the blizzards.
RUSH: Now, here’s Larry Summers. This is on CNBC’s Fast Money yesterday, and just imagine… (laughing) Just imagine Bush going out and saying this.
SUMMERS: Who knows what the next number is going to be. The blizzards that affected much of the country during the last month are likely to distort the statistics. And in past blizzards, those statistics have been distorted by a hundred to 200,000 jobs. It’s very important to know, very important to look past whatever the next figures are.
RUSH: Well, where does this stop? ‘Well, ignore the March numbers. There was a lot of wind. There was a lot of wind in March and there were a lot of cloudy days, and, you know, cloudy days depress people and they don’t go look for work as much. And April? You gotta ignore the April numbers, tornado season really gets going there, and when you get to the summer, it’s so hot, people can’t afford to go outside and sweat while finding a job. Nobody can hire somebody smells like a pig.’ So where does this kind of rationale stop? ‘You gotta look past February numbers, blizzards.’ It sounds to me like they’re expecting a disastrous number.