You reap what you sow.
Nothing could be truer when it comes to the American economy. According to CNBC "Closing Bell" host Maria Bartiromo, if the media continue to push doom-and-gloom economy stories, they will make the economy worse.
"[T]he truth is, ["Today" co-anchor] Meredith [Vieira], it doesn't matter if we're in a recession," Bartiromo said on NBC's February 6 "Today." "We can talk ourselves into a recession, and that seems to be what we're doing right now and that certainly begets more weakness."
The media coverage has apparently affected voters. According to the February 6 Washington Times, an exit survey from the "Super Tuesday" primaries showed 47 percent of Democratic voters and 40 percent of Republican voters said the economy was the most important issue in making their choice at the polls.
That's in spite of the fact that any given president has little control over the economy, as columnist Robert Samuelson explained in the February 6 Washington Post.
"For many [voters], it will be the economy, and it will be stupid," Samuelson wrote, making a play off of Democratic pundit James Carville's famous line "It's the economy, stupid."
Bartiromo reminded viewers what the definition of a recession is. "The fact is we don't know if we're in a recession yet because the definition of a recession is two quarters of negative growth and so far we have not seen that," she said.
But indicators have shown recession criteria won't be met, according to CNBC contributor Vince Farrell. Farrell referred to an International Strategy & Investment (ISI) analysis of labor data that suggests unemployment isn't high enough for a negative growth number during the first quarter of 2008.
"[T]ypically before a recession, unemployment claims spike a lot," Farrell said on CNBC's February 6 "The Call." "Now they did last week, but what you've got to look at is the four-week moving average, which right now is 325,000. They [ISI] estimate that the four-week moving average is going to have to be 400,000 for the GDP to break even."
"Now, it could happen, but that is quite a spike that would have to come the next couple of weeks," Farrell said. "So, I would take that as evidence we're not yet in recession, maybe don't go into recession. But, it's very telling that the labor market is ok despite the fact that the number of new jobs created last month was anemic. It looks to me like the labor market is hanging in there."
Editor at Large
Comments Policy
"We can talk ourselves into
February 6, 2008 - 17:29 ET by Chris Norman"We can talk ourselves into a recession..."
And thus encouraged by the confirmation that the plan was working, Viera redoubled her efforts until election day.
unemployment spicke
February 6, 2008 - 17:57 ET by tejanodiabloso how many of those unemployment claims are made by illegals ? they have, afterall, driver's licenses, our social security numbers, welfare, anchor kids, and immunity when then commit murder driving drunk .. besides, there ain't no recession around here, job postings and new houses going up everywhere ..
never look a gift skunk in the tail ..
Be careful what you ask
February 6, 2008 - 18:05 ET by dscottBe careful what you ask for, you just might get it. It would serve Clinton or Obama right if the economy did go into recession, they would have exactly what they wanted. Problem for them will be, no socialist plan will ever dig the economy out of a recession and they can kiss their tax increases, green initiatives and other PC nonsense goodbye.
Lord Sidious / Darth Vader 2008 Long Live the Empire! Come to the Dark Side, it is your Destiny.
RP08
February 6, 2008 - 18:19 ET by Vonu"We can talk ourselves into a recession...
Then why don't we just talk ourselves out of one? I'll start. Buy Gold.
I own gold and may buy more
February 6, 2008 - 18:24 ET by Clear thinkerI own gold and may buy more in the future, but please tell me how buying gold will get the country out of a recession.
Let me hear it in your words, not RP's.
The Conservative movement is about to be reborn.
RP08
February 7, 2008 - 00:39 ET by VonuFirst of all we are NOT in a recession, don't you read NB?
But if for some reason some people in the future start chanting the R word and all of the sudden without any warning whatsoever we find ourselves in a R*cc*ssi*n then buying gold would do nothing to "get the country out of a recession".
But if the fiat world of debt based currency collapes there will be a need for money based currency and holders of gold (and silver) will be those able to provide capital for a hopfully wiser world.
This country only needs to relearn what our founding fathers knew, that a stable republic can only be through stable money. In the days of freedom citizens took gold and silver to the mint and were given coins, real money, in return. Visit Kitco.com and read Antal Fekete on the subject.
Buying Gold won't help us out of a recession. But it will save your ass in a depression. Chris Laird Depression 2.0, also on kitco.
Good luck,
Freedom is a vital component of human effectiveness and fulfillment.
The Dow will drop to 8000
February 6, 2008 - 19:55 ET by Lame CherryWorld Net Daily ran a story yesterday on the cartels behind the Fed Reserve are going to drop the Dow to 8000. That is a 3000 point drop about in order to instigate a recession to ward of stagflation.
What people even at WND do not understand is there are trillions as in TRILLIONS of dollars which still need to be soaked up. The cartel printed that money to ward off a depression after 9 11 and Bush tried to spend it in investment in war and housing. The problem is the housing bubble fix burst as always when over inflated and now all those banks are in deep trouble.
They need investors to put money into banks and the money is flowing out yet as the interest is so low.
So the remedy is bust the Dow to 8000, stop consumers from buying in a recession and soak up those trillions so the dollar will reinflate and America can chug along again.
There isn't any bad talk that is going to do a thing in this. It is the Rockefeller Fed who is busting this to fix things so a depression does not happen and the dollar really crash. America has been plugging holes in banks, stocks and bond accounts by printing worthless money.
The hedge funders like Soros are attempting to break the US markets and economy to initiate a 3 world currency. Soros wants the world economy to shift to China as with communists it is easier to fleece the world for profit and power.
None of this is happening by chance or Dan Rather talk downs. This is deliberate economic policy to save the United States and lead other states into the orbit of a new currency.
For those who are into gold. I will remind them the day is coming when the Bible predicts gold will be thrown into the streets......as for now, the cartels inflated it on hedge funds and when people are buying it at high prices, they will deflate it.......TAKE THE MONEY which will be inflated and stick the small investors with the money they lost in gold going down.
Buy gold at 1000 and it goes to 750..........you hang onto it as the loss is too great and it drops to 650..........you gulp and panic......it drops to 400 and you figure you got to hang onto it as you lost too much and it levels again at 300.
So lesson learned, the cartel now holds 700 of your dollars worth now 1100 dollars on the world market as the dollar has emerged strong as a trading currency and you now hold 1000 dollar gold worth 300 dollars.
That is how the game is played all over from commodities to sock markets to metals. Small guys always get nailed because they are behind the curve.
I know the family of some inlaws who lost 900,000 in the dotcom bust out of a million dollar portfolio........they at retirement had to sell out and go back into trying to earn a living.
They have to soak up that money in losses and the only people who are going to loose is the little guy as always.
http://www.worldnetd...
*HIC IACET ARTORIVS REX QVONDAM REXQVE FVTVRVS