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Friday, July 04, 2008

Hardly a depression

H/T: WorldNetDaily

John Stossel, often irritating and informative, has some dead-on accurate remarks concerning our MSM reporting biases.

A study by the Business and Media Institute found that ABC, CBS, and NBC regularly "hyped similarities to the Great Depression."


"This downturn is to the Depression as a drizzle is to Katrina," Miss Shlaes, senior fellow at the Council on Foreign Relations, says. "


All three major broadcast networks are culpable.


The state of economic reporting in this country is abysmal. We might laugh at it if it didn't have bad consequences. But the more people hear such inappropriate comparisons, the more apt they are to believe them and change their behavior accordingly — investing less and taking fewer economic risks — thereby aggravating bad economic conditions.


The remarkably unpublicized good news is the millions of new jobs that have been created: Before January of this year, America had had positive job growth for 52 straight months.

Just like they're doing with the Iraq & Afghanistan war death toll, the MSM hypes the so-called recession to sell ad ad space. Nobody else will remind you that the four year toll in Iraq is roughly comparable to our losses in one day in WWII. Just think about D-Day - June 6, 1944. IIRC, we lost about 2,500 in that one day alone. Does anybody remember the stats for Gettysburg? That was back in that nasty ol' un-civil war we fought amongst ourselves. IIRC, fatalities ran in the 25,000 to 30,000 range for one day.

You can argue about the why of the Iraq/Afghanistan war all day. Please shut up about the human cost. Our peacetime losses to normal military operations are in the same ballpark. Just check the figures for the last sovereign, or even our last president.

As the pamphleteers and "yellow journalists" of bygone, the MSM of today are not "evolving" towards the truth.

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