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Lauer Begs Barack to Say Economy's Headed to Recession
NewsBusters ^ | Mark Finkelstein

Posted on 11/02/2007 7:17:13 AM PDT by governsleastgovernsbest

Talk about talking down the economy! No fewer than three times today, Matt Lauer invited Barack Obama to declare that the U.S. economy is headed into recession. At the end of a "Today" interview that focused largely on Hillary-related issues and Iran, Lauer turned to the economy and pressed Obama to predict the worst.

View video here.

(Excerpt) Read more at newsbusters.org ...


TOPICS: Business/Economy; Politics/Elections
KEYWORDS: barackobama; economy; mattlauer; recession

1 posted on 11/02/2007 7:17:15 AM PDT by governsleastgovernsbest
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To: Behind Liberal Lines; Miss Marple; an amused spectator; netmilsmom; Diogenesis; YaYa123; MEG33; ...

Talkin’ the economy down ping to Today show list.


2 posted on 11/02/2007 7:17:44 AM PDT by governsleastgovernsbest (Watching the Today Show since 2002 so you don't have to.)
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To: governsleastgovernsbest

I think Matt Lauer’s a poopyhead. (Hope that doesn’t get me banned!)

I’m so sick of the MSM types manipulating/trying to manipulate the news. Funny that Matty couldn’t pin Ubama down! :-)

I’m off to shop now! [waves]
;-)


3 posted on 11/02/2007 7:20:45 AM PDT by pillut48 (CJ in TX --Soccer Mom and proud RUSH REPUBLICAN! WIN, FRED, WIN!!!)
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To: governsleastgovernsbest

Whenever I want a detailed explanation of the US economy, I turn to Barack Oblama.


4 posted on 11/02/2007 7:21:08 AM PDT by Eric in the Ozarks (Go Hawks !)
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To: Eric in the Ozarks

LOL.

Yeah, who needs Larry Kudlow when we have Barack?


5 posted on 11/02/2007 7:21:52 AM PDT by governsleastgovernsbest (Watching the Today Show since 2002 so you don't have to.)
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To: governsleastgovernsbest

It’s safe to say that the economy is headed for recession, the only question is when.


6 posted on 11/02/2007 7:23:17 AM PDT by 1Old Pro
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To: governsleastgovernsbest

Hey Barack. 166K more jobs added today. Nice.


7 posted on 11/02/2007 7:23:49 AM PDT by HastertFan (F' Pelosi)
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To: 1Old Pro

Great point. By the same token, I can say with certainty that it’s going to rain ;-)


8 posted on 11/02/2007 7:27:37 AM PDT by governsleastgovernsbest (Watching the Today Show since 2002 so you don't have to.)
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To: governsleastgovernsbest

and when someone asks you the time, you can safely say it’s going on midnight.


9 posted on 11/02/2007 7:28:44 AM PDT by 1Old Pro
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To: Eric in the Ozarks

Who is this “Barack Oblama” of whom you speak. Is it possibly the candidate calling himself Barack Oblabba?


10 posted on 11/02/2007 7:28:46 AM PDT by Enterprise (Those who "betray us" also "Betray U.S." They're called DEMOCRATS!)
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To: governsleastgovernsbest

What a change from the Klinton era where the liberal MSM talked up the economy night and day.


11 posted on 11/02/2007 7:29:41 AM PDT by KC_Conspirator
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To: governsleastgovernsbest

He must have recorded that before the October 166,000 new jobs report came out.


12 posted on 11/02/2007 7:31:13 AM PDT by Old Retired Army Guy (tHE)
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To: Enterprise

I think he was in Sly & the Family Stone’s road band.


13 posted on 11/02/2007 7:31:18 AM PDT by Eric in the Ozarks (Go Hawks !)
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To: 1Old Pro
It’s safe to say that the economy is headed for recession

Higher than expected job growth belies your magisterial pronouncement.

14 posted on 11/02/2007 7:31:44 AM PDT by wideawake (Why is it that so many self-proclaimed "Constitutionalists" know so little about the Constitution?)
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To: governsleastgovernsbest

According to several surveys of public opinion I track, a plurality of people believe we are in a recession. Not far behind is the percentage of people who believe in UFOs.


15 posted on 11/02/2007 7:33:14 AM PDT by Redmen4ever
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To: wideawake
It’s safe to say that the economy is headed for recession Higher than expected job growth belies your magisterial pronouncement.

so your saying the economy will never see a recession?

16 posted on 11/02/2007 7:34:20 AM PDT by 1Old Pro
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To: governsleastgovernsbest

I can’t stand to watch Lauer no matter what he’s doing. He is the epitome of smarmyness, and my stomach turns whenever I see him on the tube.


17 posted on 11/02/2007 7:34:28 AM PDT by reagan_fanatic (Ron Paul put the cuckoo in my Cocoa Puffs)
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To: pillut48

Matt’s wife is emaciated. It’s scary. (lots of tabloid reading at beauty shop yesterday)


18 posted on 11/02/2007 7:36:17 AM PDT by altura (Fear the Fred)
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To: Eric in the Ozarks

I thought I recognized that voice. He must be the one who sings the line “I’m gonna add some bottom,
so that the dancers just won’t hide” in the song “Dance to the Music.”


19 posted on 11/02/2007 7:38:56 AM PDT by Enterprise (Those who "betray us" also "Betray U.S." They're called DEMOCRATS!)
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To: governsleastgovernsbest
Matt is just trying to get him to say something stupid for Hilliary's sake.
20 posted on 11/02/2007 7:43:38 AM PDT by subterfuge (HILLARY IS: She who must not be Dismayed)
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To: 1Old Pro

And a recovery too, then a recession then a recovery....


21 posted on 11/02/2007 7:44:15 AM PDT by misterrob (Eight down, 11 more til the Pats win the SB again.)
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To: misterrob
And a recovery too, then a recession then a recovery....

Exactly

22 posted on 11/02/2007 7:48:32 AM PDT by 1Old Pro
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To: Enterprise

I always wondered what those words were.


23 posted on 11/02/2007 7:49:19 AM PDT by NCLaw441
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To: subterfuge

No wonder the American people, if you believe polls, are upset, unhappy, and fearful for the future despite all the things we have to be positive about. It all essentially comes down to the media and that fact the president’s name is Bush. If things were exactly the same now but we had a president named Clinton, Gore, or Kerry, the opinion manipulators would see to it that everything was hunky dory.


24 posted on 11/02/2007 7:53:31 AM PDT by TNCMAXQ
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To: Enterprise

He’s the voice on “...boom, shaka-laka-laka. Boom, shaka-laka.”


25 posted on 11/02/2007 7:57:29 AM PDT by Eric in the Ozarks (Go Hawks !)
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To: Eric in the Ozarks
LMAO!!!

Is that what he was singing? I heard he forgot the lyrics and sang "Boom lotta chocolatta boom lotta chocolatta boom boom"

26 posted on 11/02/2007 8:00:15 AM PDT by Enterprise (Those who "betray us" also "Betray U.S." They're called DEMOCRATS!)
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To: governsleastgovernsbest

Recession:

Two consecutive quarters of decline in real GDP is commonly taken to be a recession. The National Bureau of Economic Research, a private organization, effectively decides when recessions occur, however, and the actual dating process is determined by judgment rather than a formal rule.

Current US figures the week of 11/02/2007

GDP 2nd (07) = +3.8%
GDP 3rd (07) = +3.9%
Interest rates -.25% = 4.5%
+166,000 jobs added

Matt Lauer went to Ohio University but not in the school of business and obviously never studied/audited/sat on economics 101.


27 posted on 11/02/2007 8:01:12 AM PDT by nyyankeefan
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To: nyyankeefan

Rush needs to return to referring to him as Matt Wower (pronoucing his name like Brokaw would.)


28 posted on 11/02/2007 8:08:57 AM PDT by Eric in the Ozarks (Go Hawks !)
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To: nyyankeefan

Hey, I don’t where things are going with a weakening dollar and +$90 oil. With the lending problems and real estate decline I expect that next year will not be a good one for the economy and the democrats will use that to their advantage for the mostly stupid middle of the road voters.


29 posted on 11/02/2007 8:09:48 AM PDT by misterrob (Eight down, 11 more til the Pats win the SB again.)
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To: Enterprise

Nah, that was Nagin singing about Nawlins! [runs]
;-)


30 posted on 11/02/2007 8:10:32 AM PDT by pillut48 (CJ in TX --Soccer Mom and proud RUSH REPUBLICAN! WIN, FRED, WIN!!!)
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To: governsleastgovernsbest

Somebody needs to tell Lauer when you suggest to small business types a major tax increase is coming, courtesy of the Democrat control legislature, there are ramifications.


31 posted on 11/02/2007 8:11:43 AM PDT by Badeye ('Ron Paul joined 88 Democrats.....")
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To: pillut48

LOL!


32 posted on 11/02/2007 8:12:28 AM PDT by Enterprise (Those who "betray us" also "Betray U.S." They're called DEMOCRATS!)
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To: 1Old Pro
so your saying the economy will never see a recession?

No one is or would ever say that.

Let me take that back. There were those in the Clinton admin who predicted that his policies had changed the world and that the economy had become recession proof.

Of course the economy is heading for a recession. Problem is for the doom and gloomers, it may not be for another 30 years, but by damnit, we are heading for it!

33 posted on 11/02/2007 8:12:52 AM PDT by Phantom Lord (Fall on to your knees for the Phantom Lord)
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To: TNCMAXQ

Yeah, like when Republican presidents are in the WH the media used to bring out the “Misery Index” and write how everyone is just miserable.

They should be dragging that corpse out any day now.


34 posted on 11/02/2007 8:15:08 AM PDT by subterfuge (HILLARY IS: She who must not be Dismayed)
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To: governsleastgovernsbest
Not in Georgia. Never, ever, ever again. Get out the camels and cactus.

http://www.freerepublic.com/focus/f-news/1919757/posts

Look at the map a little ways down in the comments.

35 posted on 11/02/2007 8:19:26 AM PDT by VanShuyten ("Believe me or not, his intelligence was perfectly clear...But his soul was mad.")
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To: governsleastgovernsbest

One of the Supermarket tabloids had a front page story that Lauer’s wife had lost 40 lbs agonizing over the sorry state of their marriage and that divorce was inevitable. It was accompanied by the obligatory photoshopped skin and bones pic.


36 posted on 11/02/2007 8:22:50 AM PDT by CholeraJoe ("Gunners til I die!")
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To: subterfuge

Re: misery index, I guess the GOP should be talking about it since the numbers would be so low! No wonder the media haven’t used that term, with unemployment and inflation low. Yet so many people think we are moments from a depression.


37 posted on 11/02/2007 8:24:35 AM PDT by TNCMAXQ
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To: TNCMAXQ

Ha! Good points.


38 posted on 11/02/2007 8:28:37 AM PDT by subterfuge (HILLARY IS: She who must not be Dismayed)
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To: 1Old Pro

“and when someone asks you the time, you can say...”you mean right now?” — Yogi Berra


39 posted on 11/02/2007 8:36:53 AM PDT by mouske
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To: Phantom Lord

the poster misunderstood my sarcasm. Of course we’re headed for a recesion, but we just don’t know when...as you understood.


40 posted on 11/02/2007 8:37:37 AM PDT by 1Old Pro
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To: governsleastgovernsbest

Hard to believe Katy was the brains of the outfit.


41 posted on 11/02/2007 8:37:59 AM PDT by sono (Hillary's Campaign Theme Song? Donovan, "Season of The Witch")
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To: mouske

classic


42 posted on 11/02/2007 8:38:25 AM PDT by 1Old Pro
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To: Eric in the Ozarks

LOL


43 posted on 11/02/2007 8:40:18 AM PDT by Dante3
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To: wideawake

Employment is a lagging, not leading, indicator.

The fact that the CMT yield curve inverted about a year-and-a-half ago means that we will be in recession before fall of next year.

A saving grace is that the Business Cycle Dating Committee will probably not announce the recession until after November.


44 posted on 11/02/2007 12:15:17 PM PDT by mywholebodyisaweapon
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To: mywholebodyisaweapon
Employment is a lagging, not leading, indicator.

When there is job growth no one anticipated, it is a positive indicator.

Prior to a recession job growth may grow steadily and then fall off a cliff in the midst of a recession, but jobs appearing that no one was looking for is not part of that common trend.

The fact that the CMT yield curve inverted about a year-and-a-half ago means that we will be in recession before fall of next year.

There is no such predictive magic formula. And the yield curve is not inverted now.

45 posted on 11/02/2007 12:53:57 PM PDT by wideawake (Why is it that so many self-proclaimed "Constitutionalists" know so little about the Constitution?)
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To: wideawake

No, the CMT yield curve IS such a predictive magic indicator, at least since the Great Depression. It has never registered a false positive, unlike the more widely quoted indices. For example, it inverted for a couple of days during October, 1998, indicating a recession within two-and-one-half years. The Business Cycle Dating Committee of the National Bureau of Economic Research later determined that a recession had indeed begun in March, 2001.

Yes, the yield curve is not inverted now. That is irrelevant, since the yield curve is a leading, not concurrent, indicator. That is why Stock and Watson pushed to have it included in the Index of Leading Economic Indicators.

Regarding job growth during recessions, again, the point is irrelevant. Some sectors thrive during a downturn while others languish. The common error is to associate job gains from yesterday’s economic growth with today’s economic performance, like Clinton’s minions did during the last decade.

I will grant you that the yield curve indicator is “just a rule of thumb” and, as such, ad hoc. About the only theory justifying it is the simple-minded expectations theory of the term structure of interest rates. The two-and-one-half year lag is a very long period. The frustrating thing is that it keeps on being right, recession after recession. Some of my colleagues maintain that rational expectations should result in such a magic formula’s becoming irrelevant after a sufficient number of economic agents acting on it undoes it, something like Lucas’ critique of econometric models. The problem with such an application is that no one seems to have advanced a theoretical mechanism by which such a rule of thumb is eliminated by its use in financial markets. It may be that programmed trading reinforces and perpetuates the rule of thumb, making it a self-fulfilling prophecy instead of eliminating it.


46 posted on 11/02/2007 1:58:14 PM PDT by mywholebodyisaweapon
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