Posted on 12/08/2012 5:13:46 AM PST by Kaslin
What a difference a few month makes.
Last month we were told by a fawning news media how great things were. The economy was a little engine that could. And the declining unemployment rate was touted in headlines as significant progress toward economic recovery.
Unemployment rate falls to 7.8% in September, reported the Washington Post- a four-year low...nearly whatever nearly means.
The nations jobless rate dropped to its lowest point in nearly four years in September. And unlike some recent declines, this one happened for the right reason: not because people gave up looking for a job, but because far more people reported having one.
Hurray! The exclamation points by the Post (!!!) were implied.
Unemployment year-over-year still has magically dropped from 8.7 percent to 7.7 percent, not withstanding September, because mostly people stopped looking for work.
But you wouldnt have known it by press accounts this year.
Oh my! Not in an election year? Under Obama? The most transparent politician EVER?
Now clear of the pressures of presidential election politics, the press story has changed just slightly and so unexpectedly.
Of course, things arent THAT great. There are still plenty of reasons, were told, to write Obama a big, fat blank check because the economy is very, very fragile.
Its almost as if- I dont know- had the fiscal cliff not existed, politicians would have had to invent it to justify more deficit spending.
Because the unemployment rate for November, touted at 7.7 percent, is dropping once again, this time for the wrong reasons, just as it has throughout 2012.
But now the press is taking note.
And economists noted that the unemployment rate would have risen if more people hadnt stopped looking for work, reports the Associated Press regarding the most recent unemployment report. Once people without jobs stop looking for one, theyre no longer counted as unemployed.
Oh, my! Where was this transparently opportunistic analysis during the election?
While there are around 2.5 million more people with jobs year over year, those jobs just cover new entrants into the labor market. Still there are 2.4 more people not counted in the labor force since last November. How convenient for an administration bent on getting people to stop looking for work while needing the unemployment rate to go down.
And, the reason of course for the shifting press coverage is so they can now make the argument that only the government, through the intervention of the holy spirit of Obama, can rescue us, assisted by the crucifixion of the rich, who must pay for our sins.
There are now 350,000 fewer people in the labor force now than in October, reports the BLS . In addition, the labor participation rates have fallen another 0.2 percent, which is 542,000 more people not in the workforce since October, echoes the press eagerly. There are 122,000 fewer people with jobs, month over month. And since about 200,000 new people enter the workforce each month, it shouldnt surprise us that under Obama, of course, the unemployment rate is going down while not adding actual jobs.
Ok, heres the point that the press, the Democrats and the GOP moderates wont tell you America: Even if you solve the so-called fiscal cliff, Obamas voodoo economic policies wont work. They arent based on economic science. They are rigid ideology wrapped in the gift paper packaging of wishful and convenient thinking.
They arent so much socialist as they are the most logical extension decades of Keynesian thought. Obamanomics, in fact, are the culmination of 80 years of liberal thought from both the left and the right in this country.
And with four more years of out-of-control government run by the same technocrats who got us into the mess, in December of 2016 youll wish then that you were as well off as you are today.
Obamanomics works so poorly that the typical ways that we measure economics cant even adequately explain whats going on in the economy. The old rules dont apply anymore, because fiscal and monetary policies dont conform to the economic realities facing the country.
These massive distortions can be seen in stock markets and supermarkets- and, as we see, in the unemployment rate, which is going down despite unemployment technically remaining unchanged.
Commodity prices, which should be much lower, have remained stubbornly high despite a worldwide economic slowdown; gold trades independently of the dollar on speculation regarding government policies; public benefits remain sacrosanct and celebrated even as they literally bankrupt public budgets; and Joe Biden remains a heartbeat away from being the most powerfully inappropriate man in the universe.
Weve entered a cowardly new world where every time someone gives up looking for work it helps drop the official unemployment rate, while simultaneously allowing Obama to shellac the rich.
Its kind of like following a policy where a dollars value today is only worth 90 cents tomorrow. Who would do THAT on purpose?
And it all took place in a few, short election months.
Think what a difference four more years will make.
You know where the press was? They were on their knees in front of the administration with no one around to call them whores.
This isn’t a Democrat or Republican problem. This is a media problem and until people start to accept that and do something about it, the media will continue to treat the American people like mushrooms.
We all knew who Obama was. We knew it for 5 years. The fact the media was able to hide it this long and get away with it tells us more about our society then anything.
Want to fix America? Destroy the MSM.
Hypocrisy - Obama has said he won’t interfere with state laws regarding homosexual marriage, but he has no problem interfering with state laws regarding legalization of marijuana.
FUBO
Bingo.
The Media is our worst enemy.
What should be an important part of a free Country has become a part of the effort to take our Freedom.
The Media has gone from a News source to a Propaganda machine.We have seen it before in other countries, now it is her in Obama’s Reich.
Bingo.
The Media is our worst enemy.
What should be an important part of a free Country has become a part of the effort to take our Freedom.
The Media has gone from a News source to a Propaganda machine.We have seen it before in other countries, now it is here in Obama’s Reich.
How true! The sad fact is that Talk Radio may be entertaining and all that, but it seems to be TOTALLY INEFFECTIVE. Rush, Hannity etc. - stand back and examine your egos and change your approach. You are useless.
The media didn’t hide it from everybody. All conservatives knew what he was. And most liberals knew what he was. They would have voted for him no matter what. Then add in the fraud.
Occupy the MSM headquarters in every state!
Give your children and grandchildren cash for Christmas. They will need it, particularly the older ones. Next year will be terrible, as inflation and taxes will be robbing Americans of every socio-economic class. There is no election, so no need for politicians to worry.
True. I wonder if the constitutional experts among us could tell us whether this transition of the press into a house organ for one political party violates its First Amendment protections. I can't imagine that the Founders intended for the press (media) to advertise for a party free of charge, and to do so unchallenged.
I guess the author didn't get the latest New Economics Memo --
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