Posted by
Mick O. on Friday, September 19, 2008 3:27:17 PM
There's no other way to say it. As a student of economics, it amazes me how the news media believes this. Never mind the fact that George Bush inherited an economy already on its way to a slowdown. After lowering interest rates and lowering taxes, the economy boomed for 6 years. Then Democrats took over the house and the senate and "bang", things started going south to the point where we stand today. But do people remember this? I'm not sure which is why I think they are stupid about the economy.
And what does the media choose to report? A statement from Nancy Pelosi, "This crisis just shows the result of George Bush's failed policies..." I think they have this on taped loop. She uses this phrase for just about anything bad that happens. Stupid. Typical politics where one side blames the other. And the media gives them a pass.
Rush Limbaugh says that people's historical perspective begins when they were born; in other words, people compare what is happening now to past events in their lifetime which often leads to quotes like, "the worst it has ever been." Never mind the fact that the people who are saying it never lived through the Great Depression.
The economy is breathing. It exhaled earlier this week and inhaled later in the week to end on an up note. Man, are newscasters depressed. They want blood! At least until after the election.