Technically, I could have made this “What Media Stupidity? Part 1”, but why start a whole, new thread:
U.S. consumer confidence took an unexpectedly steep slide in June, figures released on Tuesday showed, suggesting the 18-month-long recession had yet to loosen its grip on the economy. (emphasis added)
Unexpectedly? By whom? How much of a liberal pinhead do you have to be to not expect a massive slide in consumer confidence when unemployment is going heck for leather towards 10%? The surprising thing is that anyone could be confident – the economy is collapsing around our ears and all of us, even here to for safe government employees, are wondering not if the axe will fall, but when. Unless you’ve got some irreducibly valuable skill (doctor, Marine, etc), you’re at risk of a job loss.
But there is that good, old MSM bias – the MSM has it that the “green shoots” are real and that after a month of MSM cheerleading for Obamunism, people should be upbeat. The next paragraph is even more funny:
A separate report on April house prices in major cities offered some encouraging signs that the worst of the housing slump may be over, but that was not enough to lift investors’ spirits. (emphasis added)
Yeah, the worst of the slump is over…or, at least, it may be; but if the worst of the slump is over am I supposed to jump for joy that my house has lost 70% of its value? Kick up my heels and vote Democrat because it hasn’t lost 80% of its value? Believe Obama if he claims that he “saved” 10% of my home value? We’ll be at least a decade recovering housing prices – and, indeed, there is the chance that my house (and the houses of millions of other Americans) will never recover their value. We could say “it’ll always recover” when the drop was even as much as 20%…but I’ve seen nice houses for sale here in Las Vegas for as little as $50,000; anyone want to bet against there being swell digs for $40,000 not too long from now? How about $25,000? My Dad’s first house was something like $10,000…we’ve only got to drop a bit more for my house, adjusted for inflation, to be worth that…a half century of wealth is on the verge of being wiped out.