Posted on 05/03/2008 12:19:07 AM PDT by army2008
The news media successfully predicted 10 out of the last 3 recessions, so obviously we can trust them about the current one they keep trying to ram down our gullets, right? Well, I suppose if you define a "recession" as being in a generally pessimistic, defeatist mood and really wanting Barack Obama to win the next election, then yes, the news media is in the midst of one of the most pronounced recessions in the whole of human history.
The rest of us, though... aren't actually doing so bad. Job losses aren't materializing as predicted, the dollar has begun a rebound, major stock indexes are up 11% off their lows and the sub-prime write-downs are largely behind us. Most importantly, the economy is not even shrinking.
(Excerpt) Read more at rightupfront.org ...
LLS
They didn't want to hear about the oncoming, Clinton recession during the summer of 2000... the one that Bush/Cheney CORRECTLY diagnosed. And even though it was obvious... the DBM waited for Bush to be in the White House before acknowledging it.
The recovery from the 2000 recession(due to Bush's tax cuts) stands as one of the biggest secrets the DBM has ever managed to keep.
LLS
WSJ print edition was a case in point. The liberal news operation would have banner-headlined RECESSION if the 1st Q numbers released Wed had shown that. Instead, the 1st Q numbers were reported in the third item down in the news summary blurb, but not without stating that there would have been a contraction without exports and inventories ( as if it’s not fair to count those.) The rest of that story was to be found on page 13, but buried under a story about rate cuts, and headlined “GDP Expands Slightly Amid Gloomy Signs”. Meanwhile, the center front page headline was “Support for Republicans Falls As U.S. Is Seen on Wrong Track.” Just the leftists getting their message out in all the old familiar places.
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