Posted on 04/01/2008 9:15:16 PM PDT by garyhope
The 'Recession' Is a Media Myth Tuesday, April 01, 2008
By John R. Lott, Jr.
E-Mail Respond Print Share: DiggFacebookStumbleUpon During the 2000 election, with Bill Clinton as president, the economy was viewed through rose-colored glasses. According to polls, voters didn’t realize that the country was in a recession. Although the economy started shrinking in July 2000, most Americans through the entire year thought that the economy was fine.
But over the last half-year, the media and politicians have said we were in a recession even while the economy was still growing.
Gas prices are going up. The economy is slowing. Talk of recession is seemingly everywhere. While the majority of people rate their personal finances positively, consumer confidence in the economy has plunged to a 16-year low, well below what it was during the last year of the Clinton administration when we were in a recession.
(Excerpt) Read more at foxnews.com ...
BTTT
The “recession” is propaganda sponsored by traitors. But it’s been four months now, and oil is still up. And the dollar is still down. Nya, nya, nya, nya, nya! ;-)
I haven’t forgotten the year 2000. Nasdaq started tanking big time in the spring of 2000 (I remember the day it was down 500 points, 10% in one day, but then did rebound quite a bit, but that was the beginning of the end for the bubble). It was the summer of 2000 when big tech companies started to announce they would miss earnings estimates.
Bill clinton was interviewed on cnbc a few months before he was due to leave office and talked about how much growth was expected the following year, he was challenged about the estimates he gave, but he refused to acknowledge he was painting a much rosier picture than many were projecting.
Gentleman, start your domestic manufacturing engines! ;-)
That’s why I so look forward to the Dinosaur Media Deathwatch posts!
bttt
Thanks, I don’t think the “liberals” will be dissuaded by the facts though.
It must be true because the media says so. My blind friends all believe it even though one of them just bought his 18 yr old son a very nice 2007, fully loaded, $25,000 Chevy Silverado. It makes no since. The MSM is still very powerful.
"According to polls, voters didn’t realize that the country was in a recession." [in 2000] Hmmm... That's not a true statement. We weren't in recession until March - November of 2001. Thanks to President Bush we pulled out of recession very very quickly. Since 911 happened in the 3rd qtr this is enough of a miracle to saint the man.
Delicious.
This made up recession sure has a lot of followers. The Fed is throwing hundreds of billions at bad loans, Bush & Paulson are calling for radical expansions of federal regulation, and international traders are selling off the dollar faster than ever in the history of the currency.
Oh yeah, the grocery stores must be in on it too.
We have a great opportunity to push how government spending & policy has caused the inflation and stagnant growth we’re seeing but instead its being reduced to “There’s a crisis we need more government” or “nothing to see here move along.”
How about a third option: Our economy is becoming a global joke because of rampant socialism, government spending, and over-regulation. While the world cuts taxes and moves toward freer markets, we’re talking about new regulations and less trade.
It is true. The u.s. had entered a recession which started in the 4th quarter of 2000. It ended in the 4th quarter of 2001. A normal recession, as they usually last for 9 months. If we are in a recession, we will not have confirmation of it till the 4th quarter of this year.
But it won't be after Congress and President get done sticking their oar into slightly troubled waters. Then, like the effect of the Smoot-Hawley Tariff and the actions of the Fed back in 1929 or so, we will have a recession, at the very least, and it will be worse than the downturn we might have otherwise had. It might even become a depression, should B. Hussein or Hillary be President, with a DemonRat Congress, come January next.
Yet, as any economist knows, a recession is two consecutive quarters of negative growth
And I take issue with Lott's assertion of a 2000 recession
It isn't down because our economy is doing badly. In fact all sectors are doing well, and have been doing well for quite some time. Sure it has slowed down a little, it can't remain hot forever. But it hasn't rolled backwards loosing gains made over the last several years, basically the entire Bush Admins time in office.
The media and Democrats have been trying to create economic uncertainty for years, they tried very hard in the months before the last election- and failed. And they are trying very hard again. They've been trying to bring down this economy ever since Bush became president. What traitors to the nation and it's people!!!
Any economic slow downs we do experience can and SHOULD be blamed on the constant media scares the Democrat controlled media releases and the B.S. Democrats attempt to spread.
They are intentionally trying to cause economic hurt to this country for political gain, which should make each and every American citizen purple with anger at these traitorous bastards.
People should be marching in from of every democrat office demanding they step down from office, and blocking the doors of the traitor media preventing them from printing these lies and destroying this nation in order to influence our electoral process, and advance their own political agenda against the will of we, the people..
Well, the (D)s ARE salivating for protectionist policies like Smoot/Hawley, AND they are gunning for crimping credit streams such as the Fed did after the 1929 crash.
The ten year expansion ended in March of 2001 [the peak] and the end of recession beginning of expansion [the trough] occurred in November 2001. Start with the link in my last post.There is no reason to sit here and belabor the point. The National Bureau of Economic Research (NBER) is THE authority on recessions. Arguing against what they say is like arguing with Einstein that he cannot spell his own name because you know the 'i before e except after c' rule and he got it wrong in his own name twice.
While it may be intriguing (not to mention humorous) to debate the man using the point above as ammunition, he and the rest of the world will peg you as foolish for for challenging the very authority that defines the subject... Albert on the spelling of Einstein and NBER on calling recessions.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.