Monday, January 14, 2008

I know how to cure the recession!

The New York Times is working overtime to convince everyone how bad the economy is. Headlines every single day on the mortgage crisis, the real-estate bubble bursting, developers going banko, etc.

We've seen this movie before - right about 1992 as I recall, when Bush 41 was running for re-election. The economy was in a slowdown, nothing serious, but they had to support Bill Clinton's campaign narrative that we were in the "worst economy of the last 50 years."

It's starting again, right on schedule. With the presidential election 10+ months out, expect increasingly hysterical accounts our of the "newspaper of record" about how awful the economy is, timed to reach a crescendo right about November first.

Those articles on the economy have replaced the articles they thought they would be writing in that space to convince people to vote for the democrat candidate: articles about how bad the war in Iraq was going.

The war, oddly enough, is almost totally off the pages of the New York Times. It's just not very useful for them when casualties are way down and things are looking up.

So they've changed topics, and are trying to make the economy the biggest issue for the election. And that means they have to convince us all we are in a horrible recession.

So, how to end the recession? Simple: have the Surge stop working. If things start going badly again in Iraq, you can bet your bottom dollar the NYT shift gears right back to Iraq, and we won't hear how bad the economy is anymore.


Anonymous said...

I agree the media is hyping the recession.

But so are many well heeled short sellers, the credit rating agencies, and more than a few Wall Street strategists.

The housing bubble is in the process of correction, and has already produced hundreds of billions of collateral damage to the credit markets and corporate balance sheets.

Throw in $3.40/gallon gas, rising food prices, and a modest rise in unemployment, and voila: 0.5% GDP growth in 2008...If we're lucky.

Anonymous said...

Now is the right time time for the
rich to get richer by taking advantage of the poor uninformed
people that believe this media
BULLS---! We are still living in
the most lucrative country for
success in the world. It is up to
us to reach out and grab it and stop looking for who or what to blame for our temporary set-back
or misfortune. Look in the mirror
and start making a positive difference NOW!!!