don barrett

The Election Year Recession

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You may ask,what is an election year recession. An election year recession is when the media takes every bit of news and twists it to suit their own views. As an example take the recent positive growth of GDP by 1.9%. How could we possibly be in recession when GDP jumps from positive .9% to a positive GDP of 1.9%. If you want a recession go back and look at a true recession. The media had been looking for greater growth! (If we are in a recession i would think any growth would be welcome)
Let us look at the recession that started in the late 70s and ended sometime around the mid 80s. So lets start with inflation or stagflation as some called it back then and some are trying to tell you is happening now. Inflation in 1980 soared to 13.5%!!!! What is that about 3 times our current inflation. Read this little quote from 1982" Employment conditions deteriorated throughout the year. The unemployment rate in the U.S. reached 10.8% in December 1982-higher than at any time in the post-war era( That would be WWII).Job cutbacks were particularly high in housing,steel,and automobiles. By September 1982 ,the jobless rate reached 10.8%.Twelve million people were unemployed,a 4.2 million increase since July,1981(4.2 million added in about a year). Unemployment rates for every major group reached post-war highs with men over 20 hit particularly hard.Blacks and Hispanics were hit disportionately higher". So,how does that compare to today? !982-unemployment rate 10.8% Inflation-13.5%
2008-Unemployment-5.7% in July Inflation 5% in June Not too bad when compared to 1982!!!
So,the next time you hear Brian Williams or Katie Couric or some other graduate of the Rosie O'Donnell school of economics tell you how terrible things are today or for that matter anything they have to tell you,don't just take it as the gospel,it probably isn't true or accurate. These people have a liberal agenda and they are here to promote it.
So,the next time they tell you this is a recession,go back through history and you will see times are really pretty good since in the last 8 years we have had 9/11 and the market correction following,good or bad we have been at war since then at a tremendous cost of lives and money,and top it off with the oil and other commodities being pushed to new limits by speculators.
So that brings us to this last point-the commodities craze. The media keeps trying to tell you it was brought on by demand. And now the huge correction in oil and all the other commodities is due to the economic slow down around the world and in the U.S. Myself,I don't believe a word of it. The U.S. is the most economically challenged country that I know of and we just had a positive GDP growth of 1.9%. China and Australia have been growing so fast they have been raising interest rates to slow their economies down!!! Do some research and see where this big slowdown is coming from. The world economy hasn't slowed enough in the last couple of months for oil to drop 15 or 20%. The world economy hasn't slowed enough for copper to drop 20 or 30%. The major cause of oil prices dropping wasn't the economy was so slow. People got fed up with the B.S. and they cutback on usage. Toyota sold close to a quarter of a million hybrid cars last year in the U.S. and these people didn't buy these hybrids because the economy was bad,they bought them because they new they were tired of being bent over an oil barrel
So,the next time you hear someone on CNBC telling you how bad everything is go back and look at some prior times in our history and you will see things have been much worse than now and we will survive this slowdown!