Tuesday, September 06, 2005
Economy is doing great!
Ok for thosse of you who don't know the Dow is up around 140 today and oil is below $66 a barrel. Where is the mainstream media? Calling CNN, CBS, NBC, hello stop trying to impeach Bush and report THE NEWS!
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3 comments:
I think one thing to notice is that the Dow is not that great a indicator of how the economy is doing. Or rather, it is a great indicator of how a particular area of the economy is doing, that area being the financial industry. The Dow can go up while GDP goes down, while poverty goes up (which it did last year, even though the Dow did ok), and while unemployment goes up. (as it did two years ago I think, while the Dow was rising). I think if you saw all these numbers, along with consumer confidence, doing well there would be good news on the news channels.
One thing I will give you is that during the Clinton presidency the media reported the economy doing well (because of the Dow and GDP)even though everyone who made under 100,000 dollars saw their real wages (wages adjusted for inflation) go down, and the quality of life indicators go down. So the media did look at just one sector of the economy back in the Clinton administration, and use that data to declare a strong economy, when it was really only a strong economy for the rich.
dude, you will be on my side soon, you make too much sense :)
also, the cheaper crude oil gets the better everyone will be. It will be at $44 a barrel this time next year.
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