Thursday, September 4, 2008

The left-leaning media does it again

I sometimes think that they don't even realize that they are deliberately slanting stories and coverage. But that's kinda like an oxymoron , isn't it??

Last night, an anchor on MSNBC said that we are going thru the worst economic time in the last seventy-five years.

I'm left to reason, then...that he arrived in the United States AFTER the recession of 1977-1982?? My father --who worked EVERYDAY of his life...was out of work for 6 months. The economy soured and his company trimmed their work rolls accordingly. (Dad still got up at 04:00 and made his way into the city to look for other work every weekday of that 6 months)

It's also documented that the unemployment rate was at 12-14%, and home and auto loans were going for 18%. THAT is a recession, folks. This market and economy is a mere hiccup compared to that.
I have stated elsewhere that I believe that over the last ten years , we lived too well. We spent too much to try to keep up with those we thought were better off than if it were a competition. There are folks who were allowed to lie about their earnings...and we gave them a house. The folks who were building in Loudoun saw square footage as a competition. If the last guy to build had 6000 sq. ft, some saw it as a mark to beat. They honestly thought that it made them better people.
The train of thought didn't really end with homes. The bigger and flashier the auto, the better. Gas prices...who cares (until they get to $4.00, and it takes 6 gallons just to get to work from out here)
So, it was quite natural...and I dare say, expected....when the market we had become accustomed to actually collapsed..and began to correct course, whether we liked it or not. With every large loss thru the past 5 months, we've seen a return over several days. This indicates that the market is trying to figure out where it should be realistically at this date...but the large losses of homes (both by greedy dishonest companies and dishonest individuals) is a complication we did not need. And messing with capital gains taxes won't help, should Obama prevail in November. Like Carter before him, we'll launch straight into a full blown recession when Bam Bam turns off the spigot that is 75% of all job creations in the private sector.

Unfortunately, the left and their media machine will never admit that whining about those who made their money the old-fashioned way (They earned it) and investing it to make more money just happens to make jobs for the rest of us. Don't begrudge them because they have more money than us...embrace the fact that the masses get a job as a by-product of that desire.

No comments: