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Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,835,178 times
Reputation: 6438
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Believing the Unbelievable
To buy much of this requires you to hold deeply ridiculous beliefs about the American economy. You must believe that Obama bears responsibility for events that predate his presidency and deserves applause for the demand created by aging cars and worn-down machinery. You must believe that Congress, which controls fiscal policy, and the Federal Reserve, which controls monetary policy, bear little or no responsibility for the economy, but that the president, who controls neither fiscal nor monetary policy, is the primary driver of job creation. You must believe that governors have absolute power over state economies and that global demand is irrelevant. You must also renounce belief in Christmas -- or at least its influence on the consumer-driven economy. Virtually no one really believes these things. But partisans and the news media routinely act as if they are true. Economists Scoff at Obama, Romney Job-Creation Myths: Ezra Klein - Bloomberg
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I thought this was hilarious. And an interesting read. Just goes to show you how much spinning both sides do. And some people just eat it up.
Ironically the left, Democrats, and the lib-biased MSM have worked relentlessly to instill the myth that the prez 'runs the economy.' Here's a random example of a lib scoffing at the idea the objection that the prez does not 'run the economy' from the Bush era. And by the same token, how many times did we hear the MSM and left credit Bill Clinton with such a fine job at 'running the economy?'
Many common beliefs about the economy are magical thinking. How many times to we hear politicians stand up and brag about 'creating jobs,' for example by building tax-subsidized sports stadiums or light rail. We hear it all the time. It just doesn't work that way--basic econ 101. I have posted about this before.
Now that Obama presides in a era of economic morass, the mythology that they created is coming back to bite them in the rear, big time. I wonder if Ezra Klein wrote anything like this back during the Bush years.
To buy much of this requires you to hold deeply ridiculous beliefs about the American economy. You must believe that Obama bears responsibility for events that predate his presidency and deserves applause for the demand created by aging cars and worn-down machinery. You must believe that Congress, which controls fiscal policy, and the Federal Reserve, which controls monetary policy, bear little or no responsibility for the economy, but that the president, who controls neither fiscal nor monetary policy, is the primary driver of job creation. You must believe that governors have absolute power over state economies and that global demand is irrelevant. You must also renounce belief in Christmas -- or at least its influence on the consumer-driven economy. Virtually no one really believes these things. But partisans and the news media routinely act as if they are true. Economists Scoff at Obama, Romney Job-Creation Myths: Ezra Klein - Bloomberg
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I thought this was hilarious. And an interesting read. Just goes to show you how much spinning both sides do. And some people just eat it up.
That happened when you all allowed the economy to become politicized during the 1992 Election. That was a serious mistake.
Seriously, the best thing the MSM could do is lock-heels, close ranks and never mention the economy and presidential candidates, except for issues of taxation, regulation and trade (which do impact the economy and jobs and job creation).
Virtually...
To buy much of this requires you to hold deeply ridiculous beliefs about the American economy. You must believe that Obama bears responsibility for events that predate his presidency and deserves applause for the demand created by aging cars and worn-down machinery. You must believe that Congress, which controls fiscal policy, and the Federal Reserve, which controls monetary policy, bear little or no responsibility for the economy, but that the president, who controls neither fiscal nor monetary policy, is the primary driver of job creation. You must believe that governors have absolute power over state economies and that global demand is irrelevant. You must also renounce belief in Christmas -- or at least its influence on the consumer-driven economy. Virtually no one really believes these things. But partisans and the news media routinely act as if they are true. Economists Scoff at Obama, Romney Job-Creation Myths: Ezra Klein - Bloomberg
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I thought this was hilarious. And an interesting read. Just goes to show you how much spinning both sides do. And some people just eat it up.
Ezra Klein does a grand job of spinning, I think.
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