WHAT RECOVERY!?

Whether the news is coming from Reuters or from the Associated Press, both news organizations staffed with news people with political biases which translate into how they write, and also reflect the editorial staff who determines what gets released and what gets "spiked."

What has become evident the past year has been that the reality behind the newsroom is not the same reality in the streets; at least with regards to the economy, or rather how it is being reported by the major newspapers.

The unemployment figures are out once more, and they show, as they have for the past two years, that there is absolutely no job growth in this economy, and there has not been since 2007.

But why is the mass media using the words " the recovery," and " this fragile economic recovery" and the broader economy's recovery," as we are reading for example in Reuters report on the unemployment numbers today (Thursday, August 5Th, 2010)?

Because it is nothing more than spin. Nothing more than hogwash crafted by those who wish to evoke a mindsight among the general populace that things aren't as bad as they see around them, and as they are experiencing in their pocketbooks.

This is done for two main reasons; to lead the public to spend with abandon in order to "stimulate" the flaccid retail markets, which they hope will in turn "stimulate" the wholesale market to meet the demand of what the public wants, which is more of what it is purchasing. Again, this is like a fog, it is only good for as long as the public continues to consume, and like a fog, it is short-lived and soon dissipates. Then again reality sets in.

The second reason is politically ideological. Those who spin the news to the reality they wish the public to see are concerned that every measure this administration has taken to stimulate this economy and turn the pendulum in the opposite direction - presumably towards growth and jobs - are concerned, very concerned the direction it is taking. They see it rapidly going south, and they can't explain why, or they simply won't accept the prognosis that we are in the beginnings of a Third Great Depression as Paul Krugman, Dick Morris, Robert Reich and many others have conceded we are in. And thus, the news people spinning the current Depression into a "jobless broader Recovery," as they call it, simply will not report it as such because if they were to do so, they would have to concede that the policies that have led US thus far; those enacted and put into policy by this president since he took office a year and a half ago, have been an abject failure. The political consequences for this president and his party in an election year.and the possible losses to his prestige and to his party, are just too great for them to bear. Thus, they write of being surprised by the hundreds of thousands - not tens of thousands, but hundreds of thousands - who file for unemployment benefits week after week. This is not a recovery, and these aren't growing job numbers. This is a hemorrhage. America's economic lifeblood is bleeding unstoppably.

America is bleeding unstoppably and there is not a single politician who knows what to do about it. So we see the Left telling US that we are in a "jobless recovery," while the Right's only solution is to criticize this administration's policies without presenting an alternative of their own. The only thing one hears is the usual conservative platitudes of supporting "individual responsibility," supporting a "free market," promoting "lower taxes," and promoting "policies that will spur economic growth" without telling you what those policies are, and how they would specifically differ from those of this president, which are doing just the opposite.

A Reuters story titled, "Surprise Rise in Jobless Claims Casts a Pall on Economy" says it all. The unconvincing but cleverly crated article is peppered with the usual euphemisms of "broader recovery," and "this fragile recovery" to name a few. On one line, we read: "The surprise rise in jobless claims and below forecast sales from domestic retailers..." Well, surprise to whom? Everyone knows how sick this economy is.

In an article titled "Depression 2010 Why It's Coming How to Prepare," the writer explains this Pollyannish mentality on the part of the press in the following manner:
"And folks, the numbers don’t lie. The media has a tendency to put a spin on things and in this morning’s video I talked about one news story where it says consumers are creeping out of their cocoons. Well that’s all happy talk, and so is the word green-shoots, but it’s all meaningless and it simply is designed to try and create a certain mindset for the consumer. It is terribly, terribly misleading, inaccurate and really meaningless."

In another part of this incisive article, we read:

"Clearly, human nature doesn’t change. Just as the populace of the early 1930’s wanted to believe that the worst of the crisis was behind them, so too, the populace of the 2009’s wants to believe that the worst of the crisis is behind them.
The problem is, the populace wasn’t correct then, and neither are they correct now.
Setting aside emotions and just rationally looking at the facts presents a very dire economic outlook.

"My thesis is that an economic depression next year is just about assured. The problems that caused Round One of this financial crisis have not been corrected.
Round Two of this crisis is rapidly approaching. While this is very clear to me, it may come as a complete shock to most people.

"Why can’t we believe the mass media that the worst is over?
The answer to that question is rather lengthy. A short while ago I did a webinar to answer that very question..."

"Remember the old saying. “A man convinced against his will is of the same opinion still.” And therein lies the heart of the matter: emotions.
No matter what picture the facts paint, if you emotionally do not want to believe that this recession will be turning into a depression in the next 12 months, a mountain of evidence as high as Mount Everest will be insufficient proof in your mind.

"The key for you is to set aside your emotions and simply examine the facts. If you can do that, you are much more likely to find the truth."

It is time for Americans to set aside their preconceived emotions, and to begin preparing for what lies ahead. This begins with the election of public officials who will serve the public good, and not betray it. The recent scandals with Congressman Charles Rangle (D. NY), and Maxine Waters (D. Cal) are just recent examples of great corruption bordering on criminal activities by public servants who've misused their office and influence to enrich themselves. This has been going on for too long, with large political machineries and unholy alliances between big labor, corporations, and politicians of all stripes. This must change, and it can with the election of new people, hopefully people who are honest - men and women of integrity.

And the other thing which must be done is to repeal the bad legislation of the past two years, help those who truly need help such as the long term unemployed, the disabled, and the indigent, while using the money from the TARP and the stimulus to do this, so that the deficit will not grow any further.

The Tier 5 Unemployment Extension proposed by various key Democrats today can be funded by the Stimulus, and in so doing, there will be no excuse not to pass the much needed Tier 5 extension which over six million hurting Americans desperately need at this time. All in all, if the Republicans do not wish to be mischaracterized as not caring, they can support the legislation being proposed, and ask their Democratic colleagues to use the money from the Stimulus to fund this extension. If the Democrats who are proposing this legislation wish for it to pass with bi-partisan support, they should agree with the Republicans to use the Stimulus to fund it. This way, they cannot be accused of overspending and adding to the federal deficit.

This is what needs to be done and it must be done before things get any worse, because it will get worse before it can get better, yet we can prevent unnecessary suffering with good policy and good legislation.