Posts Tagged ‘ economy ’

Perspective Matters

I guess bounty truly is in they eye of the beholder after all. What’s a recession? Well, it depends on:

  • who you ask
  • when you ask them
  • who’s president at the time

A few years ago, when the unemployment rate was between 5 and 6 percent, the GDP was enjoying years of consecutive positive growth, and the economy was adding 14 million new jobs, that was “the worse economy since the Great Depression.”

Now, with unemployment flirting with double digits, the nation hemorrhaging jobs by the barrel-fulls each month, and the GDP suffering NEGATIVE growth, now the recession is over and happy days are here again. And, it turns out, it wasn‘t isn’t wasn’t even that bad of a recession after all.

Huh?

I want to get this straight. When things are good, and all of the major indexes are trending upward, THAT is a depression. But when all major indexes are in negative territory and trending downward, THAT is a recovery? Okay, fine. But someone needs to get to editing many an Econ 101 text book…cuz they have it all backwards!

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Editing CNN

This is rich. Check out the way the neutral, unbiased pillars of journalistic integrity, couch the flagging poll numbers of our dear leader. (Complete with my bracketed edits, of course.)

WASHINGTON (CNN) – As President Barack Obama approaches 200 days in the White House, a new national poll suggests his approval rating has dropped seven points since the 100-day mark in April. The CNN/Opinion Research Corporation survey released Thursday morning also indicates that, while just one in five Americans say that the current economic conditions are good [THAT WOULD BE A 20-PERCENT APPROVAL RATING ON THE ECONOMY, FOR THOSE KEEPING SCORE], the number who feel the economy is in very poor shape is dropping. [SILVER LINING, EVERYONE! GET YOUR SILVER LININGS HERE!]

Fifty-six percent of those questioned in the poll approve of how Obama’s handling his duties as president. Four in 10 disapprove [DOESN’T THAT FOUR NUMBER LOOK WEE IN COMPARISON TO 56 WHOLE PERCENT? WHY WE START COMPARING APPLES TO ORANGES IN A STATISTICAL REFERENCE IS BEYOND BE. IN CASE YOU CAN’T DO THE MATH, A FULL 40 PERCENT DISAPPROVE]. The 56 percent approval is down five points from June, and represents a drop of seven points from the president’s showing in late April. The CNN/Opinion Research Corporation figures are in line with numbers from most other national polls out the past few weeks.

“Since April, Obama’s rating has stayed steady among white women, but he has dropped 14 points among white men [SEE? IT’S JUST THOSE EVIL OLD WHITE MEN WHO RACISTLY OPPOSE HIM]. A majority of white men supported him at the Hundred Day mark, but now most white men disapprove of how he is handling his job,” says CNN Polling Director Keating Holland. “Obama has also slipped among non-whites, but he still gets support from over 70 percent of that group.” [WHAT WAS THE DROP, PER SE? GOT ANY NUMBERS?]

The number one issue dominating the first six months of the Obama presidency has been, of course, the economy. According to the poll, 44 percent say that Obama’s polices have so far made the economy better, with just of half of Americans saying they haven’t had a positive effect. [SO, IN THIS CASE A FULL 44 PERCENT (OF OBAMAPHILES) IS A BIGGER NUMBER THAN “JUST” HALF, OR 50 PERCENT, WHO SAY HE’S HURTING THE ECONOMY? INTERESTING MATH.]

“But another 11 percent say that Obama’s policies will eventually improve the economy, which adds up to a majority who say his policies have helped or will help the economy,” adds Holland. [ISN’T THAT CONVENIENT HOW THAT MATH ADDS UP. WE HAD TO CRUNCH THE NUMBERS, BUT WE FINALLY FOUND A WAY TO MAKE IT LOOK LIKE WE’RE ALL DIGGIN’ ON OBAMANOMICS. PHEW!]

Good lordy.