Dr.Who
Well-Known Member
In November of 2001 (11 months into the Bush Presidency) the Liberal state run media PBS reported:
"If you stroll through your shopping mall, you're likely to find more "50% off" signs than "help wanted" signs. Worried retailers are cutting back holiday staff. Outside the malls, many hotel rooms are empty and restaurants are half filled. Planes fly with mostly empty seats. All of this is because the U.S. economy is slowing and possibly headed down a scary path toward recession."
http://www.pbs.org/newshour/extra/features/july-dec01/economy_11-14.html
They reported that despite the fact that:
"The committee that puts official dates on U.S. economic expansions and contractions said Thursday that the economy pulled out of recession in November 2001 and since then has been in a recovery phase.
The announcement from the National Bureau of Economic Research's Business Cycle Dating Committee confirmed what many economists have believed: that the economy has resumed growing, albeit slowly."
http://www.usatoday.com/money/economy/2003-07-17-recession_x.htm
Today (November 2003) you can barely pick up a news story without hearing that we are in a recovery and there is little mention of the fact that the present recovery is just as slow as the one last time around. Despite the fact that we just don't know if the present recession is over. Despite the fact that some economist are saying this will be a "W" shaped recession with another downturn expected before there is a final recovery.
Honestly the two recessions are very much alike except in the newspapers. They were both mild excpet that when Bush was president they were overplayed. This one (in an election year with a Pub contender) was even called "the worst since the great depression) and this recovery is well on its way it would seem if you read the papers.
Who's fooling who?
"If you stroll through your shopping mall, you're likely to find more "50% off" signs than "help wanted" signs. Worried retailers are cutting back holiday staff. Outside the malls, many hotel rooms are empty and restaurants are half filled. Planes fly with mostly empty seats. All of this is because the U.S. economy is slowing and possibly headed down a scary path toward recession."
http://www.pbs.org/newshour/extra/features/july-dec01/economy_11-14.html
They reported that despite the fact that:
"The committee that puts official dates on U.S. economic expansions and contractions said Thursday that the economy pulled out of recession in November 2001 and since then has been in a recovery phase.
The announcement from the National Bureau of Economic Research's Business Cycle Dating Committee confirmed what many economists have believed: that the economy has resumed growing, albeit slowly."
http://www.usatoday.com/money/economy/2003-07-17-recession_x.htm
Today (November 2003) you can barely pick up a news story without hearing that we are in a recovery and there is little mention of the fact that the present recovery is just as slow as the one last time around. Despite the fact that we just don't know if the present recession is over. Despite the fact that some economist are saying this will be a "W" shaped recession with another downturn expected before there is a final recovery.
Honestly the two recessions are very much alike except in the newspapers. They were both mild excpet that when Bush was president they were overplayed. This one (in an election year with a Pub contender) was even called "the worst since the great depression) and this recovery is well on its way it would seem if you read the papers.
Who's fooling who?
