Recession-Warning-Media-Confusion-Bob Davis Podcast 855

What Is All This Talk About Recession

These days it’s hard to tell who to believe. In many ways it’s the best economy ever. The best time to look for a job. An unprecedented economic boom. Why is everyone suddenly talking about a recession. Learn more in Recession-Warning-Media-Confusion-Bob Davis Podcast 855.

Not Making Predictions

First of all I am not here to tell you the economy is in the tank, or that it is booming.

Recession! Depression! Do I have Your Attention Now?

Truth is if you put the words recession, bust, or depression in an article you’re going to get people’s attention. In addition it doesn’t hurt to have a couple of historic drops in the stock market.

Now that I have your attention…Listen to Recession-Warning-Media-Confusion-Bob Davis Podcast 855.

Market Drops and Yield Curves Mean New Media Story Lines

It doesn’t matter if the markets recover from those drops.

What matters is now the media has a story line that predicts doom and destruction.

Fool’s Errand

Especially relevant is a lesson I learned a long time ago. It doesn’t matter how well informed a commentator might be. Making predictions about a force of nature like the world’s largest economy, is a fool’s errand.

Shallow Expansion, Debt and Slowing Growth

Even more, it is true our economy is growing and we are enjoying the longest economic expansion in memory. It’s also true it’s a shallow expansion and that growth just above the inflation line, isn’t really booming. Moreover, the expansion is getting pretty long in the tooth, as the say.

There Is A Season

In contrast like the seasons, economies operate on a cycle. Truth is anyone who predicts a recession will ultimately be right. Just like fall into winter recessions have a purpose. Economic contractions kill off the weak plants and animals and insects so the strong and grow again in the spring.

So when the yield curve inverts and the market drops it is certainly worth paying attention.

Seems like we’re missing something though. While the politicians and talking heads trade insults about who’s predictions are right, what are we thinking about?

Election Year Economics

In conclusion what plans to we the people have for the future economy of the United States. I sat down to do a podcast on the yield curve, claims about unemployment and recession predictions. I ended up with an essay on the pitfalls of talking economy in an election year, the ballyhoo on the current economy when the real questions aren’t even being asked. Let alone answered.

It’s 1950 In America…Coal Mines and Manufacturing, right?

Where are we going? What are we trying to accomplish? What kind of economy do we expect in the future. Is it really manufacturing jobs in Ohio and Coal Mines in West Virginia?

Sponsored by Ryan Plumbing and Heating of Saint Paul and Reliafund Payment Processors

Recession-Warning-Media-Confusion-Bob Davis Podcast 855

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Podcast 290

Southwest Light Rail. News that Minnesota Speaker of The House Kurt Daudt says the House will not consider funding for the Southwest Light Rail, leads this midweek update from the Bob Davis Podcasts. SWLR has caused headaches for the Minneapolis Park Board, Bicyclists, Residents of Western Suburbs, Mayors, City Councils and legislators since its inception, and it isn’t even built yet! Despite the fact that light rail does not carry more passengers than buses, doesn’t spur development without expensive subsidies, and doesn’t generate employment beyond construction crews (which is a small swath of the working population and short term) the unelected Met Council and transportation ‘activists’ plan as many as twenty of these light rail projects, with the Southwest Light Rail central to the overall plan. Moreover, media coverage of how the state funds transportation projects is very confusing. Senate transportation chair Scott Dibble wants to add a wholesale gas tax which some report could add as much as twenty cents to a gallon of gas, which is projected to raise almost a billion dollars, add a license fee increase and then borrow 576 million for ‘roads and bridges’. What’s the other 800 million plus a year for? And let’s not forget the transportation amendment, passed a few years ago, which generates God knows how much in revenue. Is there a sinkhole someplace where this money goes? Oddly enough people who a month ago were touting the lower gas prices as acting economically as a ‘tax cut’, now advocate raising the federal gas tax. Hint, there is plenty of money if they would just dedicate all of the money raised in gas taxes for roads and bridges. Furthermore, what about Obama’s trillion dollar stimulus? Wasn’t that for roads and bridges too? New economic numbers this week has the media touting the ‘booming’ Obama economy, and leftwing commentators laughing at Republicans for spinning the good news, bad. But, there are still some questions about employment, central bank policy, and worrisome signs. 2.5 to 3.5 percent GDP growth is good, but wages are not increasing and some say, this isn’t enough to sustain the growth. Don’t get too cocky. The Bob Davis Podcasts provoked a lot of reaction in Podcast 287 regarding tea party politics in Minnesota, chiefly that rhetoric does not win elections, or force politicians to do your bidding. Almost as proof is a new poll of registered republicans in Iowa. If there is a grassroots tea party movement, the poll doesn’t show it. Mitt Romney and Jeb Bush lead a field of GOP candidates in the first primary state. Shockingly, the White House says journalists should be careful what they say, since it might provoke attacks against US military personnel and in his role as Commander in Chief, President Obama might have to shut down journalists who write stories jihadists don’t like, or satire that might make them attack. Not making this up. And you wonder why the President didn’t go to Paris. Finally, the IRS head continues to bitch and moan about the lack of funding for the agency, saying fewer audits are in store, and they may not be able to collect taxes …The Nation Rejoices! Sponsored by Baklund R&D.

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Podcast 266

Rolling Stone’s Debacle. This weekend Rolling Stone Magazine admitted it did not properly fact-check a story about an alleged gang rape on the campus of the University of Virginia. So now we have a clear example of media bias in action and it goes way beyond fact checking. The editors liked the story, so they never pushed the reporter to interview the accused, or confirm the stories of the friends of the woman who claimed she was gang raped at a frat party. So, it took the Washington Post to go down to UVA and run down the particulars in the story. As this was going on, Rolling Stone defended its reporter, and anyone who questioned the woman’s story was pilloried. What did the Washington Post uncover? The discrepancies are so numerous, Rolling Stone had to issue an apology this weekend. ‘Narrative journalism’, combined with bias and shoddy editing is the order of the day in most of today’s news shops. Now the media, UVA, Fraternities, the alleged perpetrators, the victim, not to mention real cases of rape have all been thrown into question as the result of an editor and reporter, and magazine that did not do their job. And what can we say about the media? Charlatans, hustlers, think tank spokespersons, operatives are booked as guests on all the major news shows, round table shout fests, and empty suits abound. An informed populace/electorate is the one necessary ingredient for democracy, and we do not have it. America is being so poorly served by its so called media, its no wonder people cannot reason, don’t know the facts, scream and yell at each other, throw labels onto each other that are meaningless, and are deeply confused about how any process works, because they are uninformed. Who’s fault is it? What can be done about it? Have we reached the stage where the rule of the mob has become a reality? Unfortunately, it sure looks like it. Meanwhile, Mary Landrieu has lost her bid for a fourth term in the US Senate representing Louisiana, giving the GOP one more seat in the Senate, and an historic majority in the House. Wait until after January 7th for the fireworks to start when the 117th Congress is sworn in. The President has acid reflux, as does the rest of the country due to his policies. The media ballyhooed the latest unemployment numbers, but once you look under the hood, they don’t look so good. Surprise! We have yet to produce one month with over 375,000 new jobs, which is what the country needs to fully recover. It never ceases to amaze what the media thinks is ‘good’ versus what is factually needed. Sponsored by Baklund R&D. (Correction: I keep referring to the current congress as “the 116th Congress” in this podcast, and the next as the “117th Congress”. Getting a little ahead of myself; The current Congress is the 113th, and the incoming congress is the 114th.)

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