Comments on: Fox News Blames ‘Mainstream Media’ For Recession

By: Zimzone

Zimzone — Fri, 30 May 2008 19:10:21 +0000

Has Fox News mentioned the fact Rupert Murdoch thinks Obama will win in November?

Ouch! That has to burn these guys’ wienies.

By: Gerald Vanderhoff

Gerald Vanderhoff — Thu, 29 May 2008 16:57:47 +0000

Yeah, how dare the mainstream media go and give tax breaks to businesses who send all their jobs overseas?

Oh, wait: That was Bush.

By: Mugsy

Mugsy — Thu, 29 May 2008 15:41:34 +0000

In March of 2003, just prior to the invasion of Iraq, Yale economist William Nordhaus predicted that soaring oil prices (he predicted a mere $75/barrel) could trigger a recession:

http://www.youtube.com/watch?v=jxzXo78WqSM

By: christopher wiwi

christopher wiwi — Thu, 29 May 2008 12:47:34 +0000

Fox News is not qualified to do anything but report on infotainment, why didn`t they inclide themselves in this because they are as hypocritical as everything else on the Reich.

By: JMOHR

JMOHR — Wed, 28 May 2008 18:21:13 +0000

There are a number of factors that one can look at to determine whether an economy is doing well. These are fairly objective in nature.

1. Labor market: Unemployment rate tells part of the story and it is now going up. However, you must also look at the labor participation rate since unemployment just fails to account for those who are out of the market because jobs are just too hard to find. Labor participation rate has been going down through out the Bush administration. In other words, a lower percentage of our work age population is employed.

2. Wages and income: Income can go up for a nation on average as it has during the Bush administration. However, for the vast majority of the population, income has become stagnant or fallen. That is a dangerous sign when consumer purchases account for such a large part of the economy as they do in the US.

3. Price Increases: The CPI is not an accurate measure of inflation. Food and fuel costs are eliminated from the amount. In the past, when increases in these items could be significant but of short duration, it made sense. It does not now. We know that there are permanent upward shifts in these prices that put additional pressure on consumers.

4. Debt load: We now have a negative savings rate in the US. People cannot run in the red. There are obvious consequences for the economy.

We could go through others. However, we have to look at the economy through these objective measures and not just through the number of bankruptcies, foreclosures and so forth. We have to bring the two together. Why has the foreclosure rate gone up x%? Why are we seeing so many retail stores going under? How is this going to effect your job security?