15 March 2008

But Wait... Haven't We Been in a Recession? Part 4

DRJ has a post over at Patterico's linking this post by Beldar who echoes much of what I've been saying about the MSM's coverage of our economy and how that coverage influences it.

Specifically, here, and here, and finally here.  This is obviously one of my pet peeves so I'm glad to see two of the more popular sites take up the point on their own.  Go read their posts, especially the comments... then come on back and read Parts 1, 2, and 3 when you get a chance.

While you're at it, look around for a while and see if there's anything else that catches your interest.  I'll be around.



Posted by: Stashiu3 at 01:52:59 | Comments (3) | Add Comment
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1

I pay a lot of attention and try to remember things, but I have to wonder, does the average person get this? I mean, they've been reading about the coming recession for years, they've thought we were in recession (look at the polls over the last 5 years as "consumer confidence" has been incredibly low considering the great economy) and now, the papers are talking about stuff like "That's the slowest growth in over 5 years" and "That's the biggest loss in over 5 years".

I know trust in the media is low, but do people really get how much they lie about just about everything and are mostly ignorant about most of everything else?

My opinion of most of today's "journalists" is summed up as "Remember, they're not just biased, they're lazy, stupid and ignorant."

Posted by: Veeshir at 15 March 2008@08:06:27 (ThMnZ)

2 "Any sufficiently advanced incompetence is indistinguishable from malice." -- Grey's Law

Posted by: Stashiu3 at 15 March 2008@09:31:36 (2d2df)

3 I agree with you both.

Until it's over, there is a fine line between a normal downturn and a recession.  I don't claim to see the future so I don't know what this is, but I do know that there is a mental aspect to economics.  If everyone thinks the economy is going to tank, it probably will.

In addition, you can't discount the way people feel about the economy.  If their daily experiences tell them things cost more, they will believe that the economy is bad.  All the statistics in the world won't change that feeling.

Posted by: DRJ at 15 March 2008@14:02:28 (wE7Og)

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