MEDIA ALERT: Your Business Blogger in Business & Media Institute: CNN Reveals New Definition of Recession
Your Business Blogger was visiting mom over Thanksgiving. I told her about the good work by the good guys at the Business & Media Institute.
I explained to her about the bias that the media injects into business reporting: talking down the economy, business men are evil monsters and Republicans don’t care about the little guy (customers).
“For example,” I begin, reverting to consultant/professor mode, “the economy is on fire–”
“What?” mom interjects.
“The economy…” I stop. It is a smart son that does not lecture his mother. “Mom, do you think we are in a recession?”
“Yes!” she cries. “People are unemployed, inflation has everything so expensive and people are losing their homes!”
Oh no. CNN got to her.
Read my article over at Business & Media Institute, CNN’s ‘Recession Watch’ Continues, with New Definition of Recession: Morning show focuses on negative Christmas shopping predictions as indicator of economic health, despite strong job growth. And read how CNN got it wrong.
The Alert Reader will note that Black Friday sales are up 8 percent over same day last year. That is explosive growth — ignored or minimized by the main stream media.
The main stream media will do anything to talk down the economy to try to get Hillary elected.
According to the White House Fact Sheet for October, statistics that CNN …should have considered:
Real GDP grew at a strong 3.9 percent in the third quarter of 2007
October 2007 marked the 50th consecutive month of job growth.
The economy has six years of uninterrupted growth.
Real after-tax per capita personal income has risen by 12.7 percent, an average of $3,800 over the last seven years.
Mom did not believe the numbers. She believes what she sees on TV. Too much CNN. Not enough FOX.