Even though we’re not in a recession, people “feel” like we’re in a recession and that’s what counts.
Sounds like liberal hogwash, doesn’t it? Well, that’s how CNN Senior Business Correspondent Ali Velshi reacted to a CNN-Opinion Research poll.
“Get this: 46 percent of Americans think the economy is in a recession – 46 percent. Nearly half of all Americans think that we're in a recession,” Velshi said on the October 18 “American Morning.”
However, Velshi told viewers the economy isn’t in recession by textbook definition.
“[T]his is interesting, because by official standards, we're not in a recession,” he said. “Recession is a sustained decline in economic growth. We haven't seen any decline in economic growth. We’ve seen some decline, but not a sustained decline.”
But none of that matters. He has incorporated a liberal notion in his business reporting that suggests “how you feel” supersedes facts, like how economic terms are defined.
“But, the bottom line is to most Americans, a recession is what it feels like to you,” Velshi said. “Whether it comes to your expenses, what you’re earning, how secure are you about your job, the value of your house – things like that.”
There was one bright spot: Velshi recognized the role the media can play in perpetuating a recession. “And talking about it,” Velshi said – can also trigger a recession.
“So, don’t listen to me – go spend whatever you were going to spend regardless of what I just said,” Velshi added.
A more rational view of recession came from former Federal Reserve Chairman Alan Greenspan. Greenspan told CNBC correspondent Maria Bartiromo on the October 15 “Closing Bell” “the odds of a recession are still less than 50/50.”
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The textbook definition is
October 18, 2007 - 18:17 ET by robert108The textbook definition is two consecutive quarters of falling GDP. We're not even close, especially when you consider that we have been subjected to six years of lying in the MSM about the state of our economy. It's the same propaganda technique they use for the war on terrorism: emphasize anything negative, ignore anything positive. It's a classic Big Lie tactic. Imagine how well both the economy and the war would be doing if all the news about both got reported equally.
reality
October 18, 2007 - 18:27 ET by the mad poleUnemployment in Florida is REAL. I'm out of two jobs and am not alone. Hard times are here.to the point of food stamps would be a necessary evil. Am holding on.
Employment is great in my
October 19, 2007 - 06:38 ET by AntiMediaEmployment is great in my part of Florida.
Nope
October 19, 2007 - 17:26 ET by the mad poleHousing industry related. Just make the sign of the cross and move on.
Sure
October 19, 2007 - 15:04 ET by TheDeuceI'm sure there are areas that have unemlpoyment in some sectors, but overall, employment's never sustained at this high a level EVER.
Perhaps, you need a move or further training in a field that you currently don't have enough training in?
Why is it that lefties believe that 'the people' noted in the 2nd are different than the 'the people' mentioned elsewhere in the Bill of Rights?
Thanks
October 19, 2007 - 17:36 ET by the mad poleBut, duh. I wasn' whining or looking for guidance.There is no perhaps, it's that I can lend credence to bad times.
The word "training" rubs me wrong. My wife tried that. I became skilled by practical application. I'll bet I could do brain surgery after watching a couple of operations.
I think I'll move to Detroit.
Imagine CNN saying "It
October 18, 2007 - 18:40 ET by Tim GrahamImagine CNN saying "It doesn't matter whether Saddam was responsible for the 9/11 attacks, only that the people feel the story is true...."
Jeff, my brother-in-law and
October 18, 2007 - 19:11 ET by JABJeff, my brother-in-law and his son have both been put out of business because of this “recession” caused by the invasion of illegal immigrants. If it were not for that, I could not see, nor could they see, a “recession” in the makings.
I have owned my own business for over twenty years now and this year is going to turn out to be one of my best years on record. However, my business is in a technology field, not manual labor like my in-laws businesses are, because of this fact I do not feel threatened by the illegals’ influx other than their crime rates (that are rising on a daily basis).
With all that said, I do not personally see people acting as if a recession is at hand, go back and live through the Carter Administration days, then you will see a depression first hand as I did.
Too bad Ignorance isn't painful..."
I "feel" that the drive-by
October 18, 2007 - 19:15 ET by jdhawkI "feel" that the drive-by media has been running down the economy since Bush took office.
However, this economy is better than the Clinton economy by almost every measure.
And, at the end of President Bush's term, we won't be thrown into recession where the stock market loses more than half of its value like under Clinton.
Exactly, JD. The people
October 18, 2007 - 19:29 ET by MikeBExactly, JD. The people "feel" the economy is in a recession because every report on the economy by the news media is nothing but doom and gloom.
"The Dow hit a record high today, but it could crash tomorrow."
"Unemployment hit a record low this month, but it could skyrocket tomorrow."
"GDP recorded another record high this month, but the growth rate is slower than last month, so a recession could be on the way."
It doesn't matter which aspect of the economy the LibMedia report on, if it's good news we might see the Great Depression again tomorrow. H*ll's bells, no wonder people think the economy is bad.
"A communist is someone who reads Marx. An anti-communist is someone who understands Marx." Ronald Reagan
JD, you're too fast . . .
October 18, 2007 - 21:01 ET by Junk Science SkepticI was just about to type a similar comment and you beat me to it.
i.e. - Given that the media has been trash-talking the economy every day since 2/1/01, it's no big surprise that the vast majority of Americans, most of whom are economically illiterate, genuinely believe that the economy is in bad shape right now.
Never mind record-low unemployment even with millions of illegals on the payrolls, never mind a record-high stock market, never mind record-high levels of tax revenues, never mind record-low tax rates for the bottom three-fifths of all taxpayers, never mind record-high wage growth at all income levels, never mind record-high levels of home ownership (yes, we know that foreclosures are up because some poor fools didn't think adjustable rate mortgages would ever adjust, but that's less than 1% of all mortgages), never mind that in spite of being left with a projected-but-never-realized "surplus," an imploding tech bubble and the two terrorist attacks on American soil, that the budget deficit is on target to be eliminated in just a few years . .
. . . never mind any of that. If the great economic minds of Chrissy Mathews, Keith Olberbuttwipe, and Rosie O'Dipsh*t say the economy is bad, it must be true, right?
Thompson/Giuliani 2008
Emotions??
October 19, 2007 - 07:50 ET by kdoliverWhat is it with liberals and emotions? Facts are what matter!!
My wife and I argue about the facts v emotion debate regularly, so I have first hand knowledge. She never likes when I say that facts/logic trump emotion. But then she did grow up in NYC. LOL
http://thelazytriathlete.blogspot.com/