Well, maybe there is hope yet for the American people.
all you have to do is watch the fear mongers at cnbc business channel for a few minutes to see what they are doing. i switched to fox business a few weeks ago and it is a world of difference. cnbc is in the business of making news rather tha n reporting it.
I wonder if the press will do an about-face when Obama is sworn in? You know, kind of like how the “homeless” problem vanished instantly when Clinton was sworn in.
‘Mission Accomplished,’ MSM?
http://www.freerepublic.com/focus/f-news/2157227/posts
The Conference Board Consumer Confidence Index™ Falls to a New All-Time Low in December
The american public is, on the whole, vapid and uninformed. While the media does tend to sensationalize there are plenty of sources of good information if you bother to look.
As usual, doesn’t matter what subject the MSM is covering, everything is a major crisis.
Starts every day and lasts until the next day when they pump up the crisis anew.
Fear, hate, death, destruction, and pushing the new latest nanny state loss of liberty for our own good is their creed.
And yet, the economy is not really in that bad of shape. GDP has fallen about .3% since the “depression” started more than a year ago. During the Great Depression, it fell by 33%.
Disposable income (after taxes) of all US households is 3% higher now than it was a year ago. Consumption spending is only 0.5% higher, the savings rate increased by the balance.
Anybody hear anything remotely like that from the financial press?
Isn't everyone supposed to be out of work and aren't those that are working supposed to be so in debt to unnamed magical beings in the sky they can't afford anything and aren't they all supposed to be borrowing, net, not saving?
Oh, and US income from abroad continues to be above US payments to foreigners for their investments here. Narrowly, but positive.
US *asset values* have fallen, as *discounting rates* have swung. But US *incomes* have not. At all. Not a smidgen.
Just shilling for Obama. As soon as he’s been sworn in (lying under oath) they’ll turn on a dime and start saying how much better everything is getting!
There is some truth to the opinion that the media is making things worse. However, I think the media is painting a dark picture in order that they may “reveal” “The Divine One” as our salvation.
If anything the media is painting a brighter picture than reality would indicate. Note how there are very, very few economists willing to speak on the subject. Most of the interviews are with journalists. That’s because few economists want to go on record with what they really think.
Maybe they are understating the problem?
I lost $2000 on a custom couch from NC from a furniture co. that went chapter 7 . NC furniture industry is in collapse.
Auto industry collapsing
Housing is still in free fall
Discussions about nationalizing 401k’s and IRA’s
http://www.leap2020.eu/GEAB-N-30-is-available!-Global-systemic-crisis-New-tipping-point-in-March-2009-When-the-world-becomes-aware-that-this_a2567.html
Real unemployment rate probably over 10%
US debt doubled
Towns and states going bankrupt
Countries going broke Iceland, England, riots in Greece
etc., etc, etc.
Bush economy is Yesterday’s election news. I would be more concerned about what they are not telling us....
Where is the good news? IMHO we are just getting started.
Guns, groceries, gold
A lot of members of the media, as well as a lot of members of congress, should be indicted for treason; tried, and if found guilty, have all their wealth confiscated, and depending on the level of treason commited, be jailed or be sentenced to hang from the neck, in a public hanging.
Yes, and our politicians.
LOL... Sheep... Now after Jan 20th things will slowly begin to get better. The bar has never been lower for an Incoming Administration. The media already has a spot picked out on Mount Rushmore for him.