I often write about Yahoo News as a prime exemplar of a purveyor of pro-Obama propaganda. Today, however, even Yahoo News has outdone itself on that score. The big headline at Yahoo News is this, "Why People Won't Say The Economy Is Booming".
Think about that for a moment. The headline assumes that the economy is booming. That's BOOMING! But the American people won't admit that.
Here's the reason: it's because the economy is NOT booming. That's NOT BOOMING!!!! In the fourth quarter of 2015, the economy grew at an annual rate of just over 1%. In the first quarter of 2016, the latest estimate is that economy grew at an annual rate of 0.1%. To put that in context, the average economic growth in the US economy over the last 50 years has been 3.2%. That rate of growth includes some severe recessions as well as periods of good growth. So, for the last half year, the economy has been growing at about one-quarter the average rate of the previous 50 years. Indeed, the economy may even be in a recession right now. If the last six months is too short a time period for you, then consider that over the last three years, the economy has grown at just over half the average rate of the last fifty years. Our economy is limping along. So say the statistics put out by the federal government itself. So, without a doubt, the economy is NOT BOOMING!
But if one were to read Yahoo News, one would think that the opposite of reality is true. The author of the article of which I am speaking is the head of Yahoo Finance, the Yahoo News business desk. This propagandist is busy trying to tell people something completely false because it makes president Obama look good. But reality is a hard thing to deny. People understand by now that media propagandists lie all the time. No wonder Yahoo is going under.
Think about that for a moment. The headline assumes that the economy is booming. That's BOOMING! But the American people won't admit that.
Here's the reason: it's because the economy is NOT booming. That's NOT BOOMING!!!! In the fourth quarter of 2015, the economy grew at an annual rate of just over 1%. In the first quarter of 2016, the latest estimate is that economy grew at an annual rate of 0.1%. To put that in context, the average economic growth in the US economy over the last 50 years has been 3.2%. That rate of growth includes some severe recessions as well as periods of good growth. So, for the last half year, the economy has been growing at about one-quarter the average rate of the previous 50 years. Indeed, the economy may even be in a recession right now. If the last six months is too short a time period for you, then consider that over the last three years, the economy has grown at just over half the average rate of the last fifty years. Our economy is limping along. So say the statistics put out by the federal government itself. So, without a doubt, the economy is NOT BOOMING!
But if one were to read Yahoo News, one would think that the opposite of reality is true. The author of the article of which I am speaking is the head of Yahoo Finance, the Yahoo News business desk. This propagandist is busy trying to tell people something completely false because it makes president Obama look good. But reality is a hard thing to deny. People understand by now that media propagandists lie all the time. No wonder Yahoo is going under.
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