Sunday, March 12, 2006
The media is wrong on Iraq and the economy!
One of these days, the US media will run two truthful headlines:
No civil war in Iraq
No recession in the US.
A few days ago, I posted something on this civil war mindset. Let me repeat. No civil war in Iraq. The new Iraqi army is doing a good job. Iraq is undergoing some tough times, largely because Al Qaeda is determined to blow up everything and kill innocent people. Yet, they have failed miserably at creating a civil war!
The other big lie is on the economy. I like what IBD published today:
"With rising incomes, soaring wealth, bigger and better homes, plenty of jobs and low inflation, we may be living in the most prosperous time ever. Yet chances are you don't believe it one bit." (http://www.investors.com/editorial/IBDArticles.asp?artsec=20&issue=20060310&view=1)
The US economy is the envy of the world. Any world leader would give you an arm and a leg to have our economic numbers. However, the American news media is still in a recession mode.
The media is also misreporting the budget deficits. Indeed, it is billions of dollars. More importantly, it is less than 3% of GDP.
The trade deficit is also misunderstood. Check out
"Stop Worrying About the Trade Deficit" By Donald Boudreaux (http://www.tcsdaily.com/article.aspx?id=021006G):
"In fact, America's trade deficit is evidence, not of any imbalance, but of the happy fact that our economy is so strong and stable that foreigners invest here eagerly."
So let me say it again. We are not in a recession. There is no civil war in Iraq. Smile, you are living in the US and everybody wants to move here!
Posted by Silvio Canto, Jr. Post Link ---> 6:31 AM
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