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Tuesday, January 08, 2008

Sensational Media Reporting To The Contrary, America’s Economy Is Just Fine

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Avatar for Bill Mitchell

The Chairman of Merrill Lynch today just declared that WE ARE ALREADY IN A RECESSION!

I guess being a moron is a prerequisite for that job.

Last quarter GDP 4.9%.  4th quarter GDP estimated at 3%.  Unemployment at 5%.  Inflation Low.  Interest Rates coming down.

And to him this spells R.E.C.E.S.S.I.O.N.?

To be “in a recession”, the economy by definition must have two consecutive quarters of negative growth.

Not only did he say we are in a recssion, he said we are in worst recession in 16 years!

Insanity!

Bill Mitchell on January 8, 2008 at 02:29 pm

Bill: This is a propaganda war, with the MSM functioning as the Dem Ministry of Propaganda.


If you don’t know by now, don’t mess with it.

robert108 on January 8, 2008 at 02:42 pm

Um… 5% unemployment is at a four-year high. Gas prices are predicted to hit $4 a gallon this summer. A few million more home-owners will be faced with staggering ARMs in January and many will face foreclosure [no big deal unless you’re the one losing your home.] The Canadian dollar - for the first time ever -is now worth more than the US dollar. President Bush has conceded that the economy may face trouble. Lets not kid ourselves here, guys. The economy is no blazing torch of strength.


"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on January 8, 2008 at 03:18 pm

Um… 5% unemployment is at a four-year high. Still lower than the Clinton average. Gas prices are predicted to hit $4 a gallon this summer. They were predicted to go to $4-$5 last summer.

Predictions aren’t reality, especially from static-analysis leftie ignoramuses.


If you don’t know by now, don’t mess with it.

robert108 on January 8, 2008 at 03:21 pm

The highly trusted Lundberg Report - rarely wrong - predicts the $4 gasoline figure. And whether the 5% unemployment rate is lower than Clinton’s is irrelevant. It has climed 1% in the last sixth months and shows no sign of slowing down. Our economy is no paragon.


"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on January 8, 2008 at 03:27 pm

It has climed 1% in the last sixth months and
shows no sign of slowing down.

Actually, it has increased only a half a percent.

And whether the 5% unemployment rate is lower than Clinton’s is irrelevant.

Of course it’s relevant!  Clinton’s unemployment figure was lauded, while this one, even though lower, is being spun as a disaster!  Pure propaganda, fueled by BDS.


If you don’t know by now, don’t mess with it.

robert108 on January 8, 2008 at 03:35 pm

pp: The way you’re talking, you would think we were back in the Carter economy.  Now, that was a bad economy.  This economy is exponentially better.  Get some perspective.


If you don’t know by now, don’t mess with it.

robert108 on January 8, 2008 at 03:44 pm

robert108:  Whats the point in taking my comment out of context? How does that help anything? A srong economy and rising unemployment do not go hand-in-hand. You know that. It doesn’t make one a liberal/leftist to observe that the economy is slipping a little and its OK for a conservative to admit that. After all, Merrill Lynch hardly qualifies as a leftist propaganda outlet.


"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on January 8, 2008 at 03:48 pm

Whats the point in taking my comment out of context? I don’t think I did that at all; I simply clarified and contextualized two of your statements.  If anything, it is you who took some metrics out of context. How does that help anything? A srong economy and rising unemployment do not go hand-in-hand. I never said they did, and that isn’t my point at all.  There is a very big difference between an adequate economy and one that is in recession. That is the propaganda claim, and one you seemed to support.  It’s just not true, and I have given several reasons why.  If it pleasures you to point out every downturn, go ahead, but the article was about exaggeration, and you seem to go along with that here.


If you don’t know by now, don’t mess with it.

robert108 on January 8, 2008 at 04:00 pm

"America’s Economy Is Just Fine.” - [from the headline of this blog.] Well, no its not. Even the President has admitted that. I would assume that he knows more than thee and me. Since you seem to favor hyperbole, let me point out that I never claimed we were in a depression or a Carter “malaise”. I just pointed out the facts. Unemployment is up. Several million more ARMs are going up this January. The dollar has sunk below Canada’s for the first time ever. Gas is predicted to hit $4 a gallon. And - one more thing - from the Federal Reserve: Personal credit debt in our nation hit 1.5 TRILLION dollars in June. Our economy has not collapsed, but it shows serious signs of weakening.


"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on January 8, 2008 at 04:12 pm

Well, no its not. In your opinion. Even the President has admitted that. He has to answer the relentless negative propaganda from the MSM. Furthermore, he has also said the economy is strong; why the cherry-pick? I would assume that he knows more than thee and me. Just so you know it’s an assumption, not necessarily the truth. Since you seem to favor hyperbole,That would be you; your entire approach here is hyperbole. let me point out that I never claimed we were in a depression or a Carter “malaise”. Nor did I; I just put your remarks in context. I just pointed out the facts. Unemployment is up. Not as much as you originally claimed, as I have already pointed out, and it’s still below what is considered good. Several million more ARMs are going up this January. Hyperbole at its finest; quote the percentage; it’s not so sensational. The dollar has sunk below Canada’s for the first time ever. It’s a policy to deal with the so-called “trade deficit”, and it’s working. Gas is predicted to hit $4 a gallon. More hyperbole, calculated to instill fear of the future; a common propaganda trick. And - one more thing - from the Federal Reserve: Personal credit debt in our nation hit 1.5 TRILLION dollars in June. Hyperbole again; what is the percentage of GDP? Our economy has not collapsed, but it shows serious signs of weakening.  More hyperbole; it’s just your opinion, and that of the doomsayers who want a Dem victory in ‘08 by selling a bad economy.

I’m surprised that you drink the leftie KoolAid on this one, pp.


If you don’t know by now, don’t mess with it.

robert108 on January 8, 2008 at 05:34 pm

robert108:  Your analysis of my comments doesn’t make any sense. Even in Bold type it still doesn’t make any sense.


"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on January 8, 2008 at 05:50 pm

robert108: Your analysis of my comments doesn’t make any sense. Even in Bold type it still doesn’t make any sense.

I can’t help you there. I explained my points clearly. I use bold type to distinguish my comments from your text, nothing more.  Don’t get your panties in a bunch.


If you don’t know by now, don’t mess with it.

robert108 on January 8, 2008 at 06:04 pm

Haha , robert108: If I had on panties and if they were in a knot, then we’d have a real issue to discuss! ....Guess we’ll just have to agree to disagree.


"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on January 8, 2008 at 06:19 pm

pp: It’s an expression.  It means that I meant nothing offensive, so don’t be offended.  Clear?


If you don’t know by now, don’t mess with it.

robert108 on January 8, 2008 at 06:45 pm

robert108:  relax!  read my last entry again. No offense taken.


"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on January 8, 2008 at 06:49 pm

Again with the numbers.

This was nothing more than a political ad. This guy should run for President

ews48 on January 8, 2008 at 09:18 pm
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