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“Sometimes knowledge has to be obtained empirically”

Posted by B. Daniel Blatt at 6:57 pm - November 8, 2012.
Filed under: Economy,Media Bias

By historical standards, the current economic recovery has been the slowest since the Great Depression. And yet, thanks in large part to how the legacy media spun the recent jobs numbers, Americans have greater economic confidence this month than they did a year ago.

And yet, CNBC reports today, the U.S. Economy may be headed for another recession. “Funny,” quipped Glenn Reynolds linking the piece, “just a few days ago CNBC was full of good news!”

Things right now, to be sure, are marginally better than they were four years ago.  And that certainly did not hurt the president.  But, given the regulations his administration has signed off on and the coming implementation of Obamacare, we have only seen the first fruits of his policies.

Maybe we have to see their full impact before people realize just how damaging Obama’s policies are to the economy.  Just hearing a pundit forecast what they mean is not enough.  ”Sometimes”, wrote Amartel commenting at Ann Althouse’s blog,

. . . knowledge has to be obtained empirically. It’s going to hurt like hell, and the people who suffer the most are going to be the people who voted for it. My chief hope for the coming months and years is that mainstream media will finally be held to account.

Never give up, never give in. Not to the takers’ agenda, nor to their baroque and embarrassing emotional excesses, intellectual bankruptcy and divisive impulses.

H/t Reader Kurt.  Yes, it is going to hurt like hell.  And let us hope that people hold the media to account as well.  They have covered for this administration’s failed economic policies.  They spun mediocre economic numbers as a sign of robust recovery, numbers similar to those in 2004 which were the sign of a sluggish economy.

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18 Comments

  1. CNBC reports today, the U.S. Economy may be headed for another recession. “Funny,” quipped Glenn Reynolds linking the piece, “just a few days ago CNBC was full of good news!”

    That’s true, and in another ‘great minds’ moment, I just commented on it elsewhere.

    Notice how the economic news has suddenly turned negative – now that Obama can no longer be hurt by it? … I saw it coming. As a regular Zero Hedge reader, I was well aware of some negative developments out there, that the media were abnormally quiet on, the last couple months of the campaign…

    The most powerful form of [media bias] is, what the media does *not* say; the selection of stories. Stories sometimes bubble up beyond the media’s control, but more often the media gets to pick and choose what will be a story. With shocking frequency, the media is silent about important stories that could hurt Democrats. Thus, our voters, who are mostly “low information” to begin with, vote without having all the information. In commercial contexts, that would result in prosecution for fraud.

    Comment by ILoveCapitalism — November 8, 2012 @ 7:07 pm - November 8, 2012

  2. ILC, great point about the most powerful form of bias being what the media doesn’t say.

    Have also been trying to get cite for the link in Taranto’s Best of the Web where he compared how NYT treated near identical unemployment numbers for September 2004 and September 2012.

    Comment by B. Daniel Blatt — November 8, 2012 @ 7:18 pm - November 8, 2012

  3. Can’t wait for the multitude of small and large companies firing people (hopefully all zero voters). Big lesson for conservatives: never hire liberals in the first place, they will always vote against your interest

    Comment by susan — November 8, 2012 @ 7:27 pm - November 8, 2012

  4. Over at Bookworm Room we’ve been discussing the options and it’s been a very interesting conversation

    Comment by lee — November 8, 2012 @ 7:32 pm - November 8, 2012

  5. I predict over the next few months that a lot of people shift from full time work to part time.

    I am very curious to see the revisions to the jobs outlook. I am willing to bet there will be huge one.

    Love how the media sits on news until after the election-although I think most Obama voters are stuck in a “all Bush’s fault” mindset.

    Comment by Just Me — November 8, 2012 @ 7:36 pm - November 8, 2012

  6. I’m expecting unemployment to top 8% again… just from data revisions. I never believed the 7.8% number when it came out.

    A recesion would then push it back over 10%.

    Comment by ILoveCapitalism — November 8, 2012 @ 7:54 pm - November 8, 2012

  7. Who cares? Gay marriage and abortion are way more important than a good economy.

    Comment by V the K — November 8, 2012 @ 8:40 pm - November 8, 2012

  8. To be fair, the article said:
    The US is growing but not fast enough do the “fiscal cliff” might cause a recession.
    Spending cuts might cause a recession
    Higher taxes might cause a recession
    Doing nothing might cause a recession

    Susan – you really “can’t wait” for people to get fired? I can’t believe that’s true.

    What I can’t wait for is the GOP in the House hold the president accountable so he cuts spending and allow for new revenue to shore up programs.
    At this point right after election we need compromise ASAP from both sides.

    Comment by mike — November 8, 2012 @ 10:52 pm - November 8, 2012

  9. Spending cuts might cause a recession
    Higher taxes might cause a recession
    Doing nothing might cause a recession

    You don’t see the pattern, do you? The pattern is that anything, everything might cause a recession. Because the economy is that fragile and tapped-out. Because Obama has done that poor a job, these last four years.

    Comment by ILoveCapitalism — November 8, 2012 @ 11:03 pm - November 8, 2012

  10. No, mike doesn’t see that, ILC, because Obama promised him free stuff and that he would punish those people who mike hates.

    Mike doesn’t see a lot of things. He doesn’t see, for example, how hard you and I work, or what we did without to save up for a rainy day, or how we put ourselves through college. All he sees is that we have more than he does, and thus it must be taken from us in the name of “good governance” so that he and his fellow looters and moochers who didn’t scrimp, didn’t save, and didn’t work can have it.

    Comment by North Dallas Thirty — November 9, 2012 @ 12:53 am - November 9, 2012

  11. Mike, if you cut spending, that means programs get cut. They don’t need ‘cutting’, they need to be nuked from orbit.

    Comment by Annie — November 9, 2012 @ 1:50 am - November 9, 2012

  12. “Because Obama has done that poor a job, these last four years.”

    Agree and I have said it many times

    Comment by mike — November 9, 2012 @ 3:51 am - November 9, 2012

  13. “Susan – you really “can’t wait” for people to get fired? I can’t believe that’s true. ”

    no mike, read well, I said I cannot wait for obama voters to be out of work. Sounds fair to me. After all, those are the people that at the question “are you better off now than 4 years ago” they said yes. It is only fair to make them equal with the rest of the population

    FAIRNESS! EQUALITY!

    Isn’t it your mantra?

    Comment by susan — November 9, 2012 @ 4:03 am - November 9, 2012

  14. Obama could not have won re-election without securing a big chunk of white voters. I suspect that just as they hold him to a much lower standard than they would a white politician, they excuse all his failures because they never had high expectations of him anyway. Are liberals racist? You bet. Why else would they proclaim a mediocre thinker and speaker the smartest President ever? The media condescension towards him is palpable. Sure, they are over-the-top in their self-conscious praise and protection. But it’s due to their inner conviction that as a black man, he can’t do it on his own, they have to “help” him. They also want to prove themselves Obammier-than-thou. Groupthink of the herd at its finest!

    Comment by JuJuBee — November 9, 2012 @ 11:23 am - November 9, 2012

  15. You are a bunch of frigging Republican idiots.. Please go drown yourselves

    Comment by JIM Jones — November 9, 2012 @ 3:18 pm - November 9, 2012

  16. Ah yes #15 shows why so many people think ‘out reach’ is not worth it.

    Conservative: I believe in smaller government and more liberty.

    Liberal: I believe you should die.

    And yet the Conservative is suppose to compromise, what’s that to the Liberal? Slip into a coma but not die? Massive organ failure?

    Comment by The_Livewire — November 9, 2012 @ 4:13 pm - November 9, 2012

  17. [...] politicians who want to lead us down it.  Only when they realize how far along we are, when they face the impact, say, of Obamacare, will they realize that they have been complicit in the Comments [...]

    Pingback by GayPatriot » No, Americans did not vote for Socialism on Tuesday — November 9, 2012 @ 6:55 pm - November 9, 2012

  18. [...] I blogged, quoting Amartel, a commenter from Ann Althouse’s site, “knowledge has to be obtained empirically“, that is, only when people see just how bad Obama’s policies are, when fully [...]

    Pingback by GayPatriot » Obamacare: the “single worst piece of legislation . . . passed in modern times” — November 15, 2012 @ 1:40 am - November 15, 2012

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