Monday, October 06, 2008

Swimming In Shallow Water

Unfortunately, I was forced to listen to CBC radio news this morning while preparing my coffee.

The theme of the day seems to be Recession ..... as in ........... we are in one.

As if the depth of knowledge possessed by the CBC talking heads and editors is anything more than the surface slime on a stagnant puddle in an urban parking lot! As if these people are anything but cyphers for people who truly would be happy to see us all struggling with a truly crippled economy.




Stock market corrections no matter how extreme or frightening to the ignoramuses in the MSM do not equal recession.
The Canadian Economy created16,000 net new jobs last month. And the GDP is still in growth territory.

Same thing in the USA.

Massive bank / credit bailouts by federal governments do not equal recesssion.

Recession is negative economic growth for a period of two quarters (6 months)

If you wish to view periods of cyclical economic decline as recession you may have an argument that our economy is in the first stages of such a period.

You may not however draw conclusions about the scope or real impact of any such cycle until you have actual data to support your ideas.

The MSM wants us all to believe that we are on the brink of ruin ..... it makes a better story that way.

OMMAG

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2 Comments:

Blogger ms eville said...

Forced? was the coffee machine on the same breaker as the radio?

10/07/2008 6:00 PM  
Blogger OMMAG said...

Well ... Mrs. Ommag sometimes insists on having the TV or radio on in the morning and she puts it on CBC.

You see she doesn't really listen to it ... just like the background chatter.

Any attempt by me to eliminate the noise results in a friction.

Somedays I will risk the wrath of she rather than bear the aggravation.

10/10/2008 10:37 PM  

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