FLASHBACK: NYT Tried to Spin 1970s Stagflation to Protect Jimmy Carter Too

NewsBusters ^ | 6/10/2022 | Joseph Vazquez

[JV3MRC]

Remember when The New York Times attempted to spin the 1970s stagflation crisis in order to protect former President Jimmy Carter’s political image before the 1980 elections? MRC Business does.

The newspaper published a 1979 propaganda piece erroneously headlined, “The 70's: America Learns To Expect a Little Less,” The piece tried to paint lipstick on the pig of an economic disaster that Carter oversaw. Carter’s policies resulted in stagnant growth and a ridiculous annual inflation rate of 11.3 percent in 1979. “[D]espite the prospects of a recession next year, the economic reality is perhaps better than the psychology. Inflation in terms of what people actually spend is not so bad as the Consumer Price Index suggests.” The author, who appears to be the late Times business and financial news editor John M. Lee, whitewashed the dangerous economic situation Americans were facing at the time: “The rate of price increase throughout the economy (the gross national product deflator) is less than at this time last year.”

But it got worse. The Times patronized readers by telling them not to believe what their lying eyes were seeing and to take a more positive perspective on rising energy prices and slower population growth:

"High energy prices are forcing more efficient use of supplies, and slower population growth means less demand for the resources of a slowing economy."

[Conservat1]

Thanks for this piece.

[M Kehoe]

“Put on a sweater and turn down the thermostat.” - Mr. Malaise.

5.56mm

[ASOC]

Inflation was *a whole lot more* than 11% It was 13% in the assclowns first year.....

[John Milner]

Nope, just K C and the Sunshine Band 24/7.

And maybe they can bring back “Boogie Oogie Oogie” by A Taste of Honey. Remember them, they were the best new act of 1978 according to the Grammy voters. (Beating out Elvis Costello among others.)

“Radio is in the hands of such a lot of fools trying to anesthetize the way that you feel.”

[nicollo]

If you ever thought that your FR posts are in a vacuum, remember that you are being read here. That’s why we take the time to post, comment and analyze the news.

I posted this 1979 NYSLimes article yesterday, Jun 9:

https://freerepublic.com/focus/bloggers/4069783/posts?page=16#16

Don’t need credit, and, possibly, coincidence, but do know that our posts and comments are being read and are influencing the nation.