Thursday, May 29, 2008

No recession.... darn it! (sarcasm)

In the last quarter (January-March 2008) the United States economy grew by 0.9% in gross domestic product.In the quarter before the economy grew by 0.6%

The new statistics did not meet what analysts consider the definition of a recession -- two straight quarters of a shrinking GDP.

You had to read the Associated Press news story on the improving economy very closely to get the above information because it ran against the Main Stream Media's bias in favor of Barak Obama and the media's believe the more bad news they can report on the economy the better it is for their "Rock Star" Obama! (to read the AP story click on the title for a link)

There is even good news in Oregon as reported in today's Oregonian:

The good news is that Oregon's economy is expected to continue performing better than the United States economy as a whole......

Presenting their quarterly forecast, state economists said the flatness of the economy so far has not made a major dent in the income taxes that Oregonians pay - and that fund education and state services. The state is still projected to finish its current two-year budget cycle with $143 million left over in mid-2009.

...... it doesn't add up to a recession, says state economist Tom Potiowsky. "If you wanted to call it a recession, it's an extremely shallow one," he said. "But I wouldn't call it that yet."

The Oregonian's reporters reported it in a very begrudging fashion.

While there are problems with the economy due to over speculation in housing values caused by very loose lending practices the real problem is the fear caused by the constant drum beat of the Main Stream Media that over emphasis everything negative in a conscious attempt to help Barak Obama! To quote another Democrat, "The only thing we have to fear is fear itself." The MSM is doing a good job of creating that "fear" but some times "facts" get in the way.