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Does the Media Understand Economics?

2/7/2014

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Recently the NY Times came out with one of it's most outlandish articles in a while.  Defending Obama and his policies, they actually stated that the elimination of nearly 2.5 million American jobs would be a good thing.  And although it was tied to the Obamacare debacle, that's not what I want to discuss.  It's the economics of the thing that really drives me crazy.

At latest count 92 million working age Americans were not only not working, they were not even looking for work. They've given up.  This figure is the highest that it's been in over thirty years and yet the Times thinks that another 2.5 million added to it is a good thing.  They use the argument that freedom from work will give people the opportunity to express themselves in new ways, take care of their kids better and on and on.  Really?  What are they going to do about eating and  paying for their bills, such things as clothes, housing, transportation and so much more?  But we all know the answer to this: the working American public will be paying for them in the form of all kinds of subsidies for Medicaid (if this will even exist for long), food stamps, housing support, and much more.  Sit home and be taken care of by those who work.  Is this the new American credo? 

So what does this do to the already overstretched workers who will foot the bill?  Well, they've already seen pay cutbacks due to employers cutting corners to stay open, so now come additional taxes and fees from the local, state and, or course, the federal level at a time when prices continue to rise.  I mean, really, take a walk through your grocery store and see for yourself.  And while you can find some special deals, make sure you know what you are buying first.  I don't know about you but I'm not going to buy chicken raised in China.  After all, we've already seen the videos of them raising cattle in a landfill and we know about their tainted dog food; I can just imagine what the conditions are for chicken.  Yet our federal wizards see no problem with importing their meat which has already been estimated to be heavily tainted.

But wait, there's more.  Our illustrious President says that inflation is low and that unemployment is dropping.  And why does he like to brag about this?  Well, he's technically correct but you have to look at the model used to create these figures.  If you don't count people who have given up looking for work due to frustration, yes the unemployment rate does drop.  And in a similar fashion, if you don't count food and transportation as part of the content of inflation, two of our largest expenditures, a similar result is found here.  So my point is that since figures can be made to lie and liars always use figures, it's easy to see where the problems are.

And as for the NY Times.  They've been one of the main cheerleaders for everything that Obama has been trying to do and I wouldn't expect that to change.  And although their readership and profits have been dropping like a rock, for some reason the Beltway Establishment types, including not just the Democrats but a significant number of Republicans of the RINO slant, read it religiously and take action accordingly.

It's no wonder we are in such deep trouble.  So, my friends, when you hear stories like this always search on your own for the truth.  Don't take my words, or those of anyone else, as the Gospel without doing some independent research.  And this includes all of our political class which in so many cases puts itself first and you in a far second place.

Educate yourself daily, use your logical thinking skills to reach your conclusions and then act accordingly.  It's important; we have a country to save.

God bless you all and God bless America.  May Old Glory always fly freely and proud.

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    Hi, I'm James, a writer who studies nature,  animals and all things created by God. I also write from time to time about what I think God expects of us.  I would love to hear your thoughts on these subjects. I hope you enjoy my comments.

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