Headscratcher
Unemployment stands at 4.7%, and at last count, the economy is still adding jobs. Inflation is running at 2.8%. At last count GDP grew at 3.8%. Industrial production, rising. Consumer incomes, rising. Retail sales, rising. Yet, nearly half of all Americans think the US economy is in recession. I must conclude one of the following:
a) nearly half of all Americans are completely stupid
b) the poll is deeply flawed, having drawn respondents disproportionately from either a Code Pink conclave, an insane asylum or the state of Michigan
c) nearly every statistic collected by government and accepted by mainstream economic analysis is wrong
d) the media has told people over and over for so long that the economy stinks, by focusing on narrow and sometimes meaningless aspects, that they now believe it.
a) nearly half of all Americans are completely stupid
b) the poll is deeply flawed, having drawn respondents disproportionately from either a Code Pink conclave, an insane asylum or the state of Michigan
c) nearly every statistic collected by government and accepted by mainstream economic analysis is wrong
d) the media has told people over and over for so long that the economy stinks, by focusing on narrow and sometimes meaningless aspects, that they now believe it.
posted by Donny Baseball at 1:50 PM
1 Comments:
I think that this is the result of a spoiled American public. I also believe that it stresses the success of Reagan and Split government of Clinton and the GOP. We are spoiled by the 80's and 90's. Recession is no longer that horrible apparition that haunted us during the 60's and 70's. We expect growth gosh darn it and we want lots of it.
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