Trying to think of the right word to describe the media when it comes to reporting on the US economy... Evil seems too juvenile. Biased is more political a term in nature. Propagandistic is too many syllables.. Hmmm.. Thinking.. Agenda-driven would be accurate except that's two-words and I am trying to be disciplined.. Hmmm.. Yess, I got it..
The best word to describe the media when it comes to reporting on the US economy is Huckster -- One who uses aggressive, showy, and sometimes devious methods to promote or sell a product or idea.
How else to describe bullshit like the following (in blue font):
Housing Market's Silver Lining (CNN) -- "Amid the clouds of gloom hovering over the nation's housing market there is a silver lining. Steven Liberati sees it. The 28-year old heating, ventilation and air conditioning systems salesman and his fiancé are about to purchase their first home -- a co-op apartment in White Plains, New York -- for a fraction of what they thought it would cost just a couple of years ago.
"I'm always trying to take advantage of a situation. I feel like two years ago was a good time to rent," said Liberati. "Now it seems very affordable. We had to jump on the situation.""
Awww, how sweet.. a couple in love... Awww.. and this 28yr old nobody thinks he's very clever by waiting and getting a new home with his fiance at a song compared to a couple years back. He must feel so dern' smart--
Of course he probably never took into consideration the market still has a ways to go before it stabilizes, and prices will be dropping on average another 5-7% minimum by years' end. Or what happens if/when he loses his job and mortgage payments and bills are still due. Or if he and his fiance break up and he has to make all the payments alone, or worse they marry then divorce, and the home has to be put through a quick sale to be able to split the assets amongst them equally?
Yep..that guy was pretty dern' clever...
Here's the next part of the huckster article and don't eat or drink while reading because I don't wish you to choke or do a spittake on your laptop....
"Housing may soon rise from the dead, argue some economists. And, the severity of the slump may in fact accelerate the arrival of a recovery. "The truth is the correction in house prices and the low level of home building is really the cure for the housing industry's problems," said Jim Glassman, senior economist at J.P. Morgan Chase & Co. The lower prices fall the more affordable homes are becoming, even factoring in a decline in household income over the past few years due largely to the high level of unemployment."
This Lie is pushing the premise that housing is due a V shaped recovery and at any moment, its going to Bounce Up Up Up back to pre-2008 price levels. Remember, housing is in a double-dip. So what happened to that 'V' the first time around? The best letter to accurately describe the economy is an 'L'. The truth is the JP Morgan Chase economist is ignorant and a liar. If you were seeking to buy laundry detergent or cookies, then lower prices mean increased chance they'll be sold to consumers. Housing is different.
In housing, even if a home is the 'steal of a lifetime', you still need money to put a down payment at minimum, and most people barely have $2500 in savings which is why they live paycheck to paycheck. And the down payment percentage required before lending kicks in has increased since 2008 as lenders want less overall risk. Secondly, you're assuming your credit is so spotless that a mortgage lender will wish to risk their capital to lend to you. Lastly, Do you work? And you have a job now, what kind is it? Do you work at McDonalds or Macy's? Do you work for a state government where jobs are being slashed left and right? That all comes into play.
"The current year will achieve the highest affordability condition in 40 years," said Lawrence Yun, chief economist of the National Association of Realtors. Buying a home today looks even more affordable when compared to renting, which is becoming more expensive, as measured by the government's Consumer Price Index. So, in theory, more potential buyers should start thinking like Steven Liberati."
Too funny.. Mr Yun, nothing personal against one I've never met, but you are a professional Liar. In that I mean you draw your income by continually lying and spinning bad data to put both your employer, the NAR and the real estate market in the most positive light possible. You pick any statistic out of your um.. mind to inject hopefulness where it rationally has no place. If you worked in politics, you'd be a 'spin-doctor'... a partisan with no real credibility. You say basically this year is the best year to buy a home in the last 40? Tell you what-- 2012 is going to be even BETTER.
"All the bad news isn't bad news. Sometimes bad news is good news," said Drew Matus, senior economist at UBS Securities.
So all bad isn't bad because some bad can be good, but then again, some good can be bad too, unless good can only be good and bad can be bad or good...
Oh dear.. Pardon me but.. ~face slappp
The media are hucksters. They all work for the same corporate interests and Desperately.. and I do mean Desperately want the recession-depression to end. And if they have to relentlessly Lie to you on a non-stop basis, and turn bleakness into optimism, and turn rot into 'recovery', then they will Do it.. again and again until you give in and accept the "Hopium"
Awww, how sweet.. a couple in love... Awww.. and this 28yr old nobody thinks he's very clever by waiting and getting a new home with his fiance at a song compared to a couple years back. He must feel so dern' smart--
Of course he probably never took into consideration the market still has a ways to go before it stabilizes, and prices will be dropping on average another 5-7% minimum by years' end. Or what happens if/when he loses his job and mortgage payments and bills are still due. Or if he and his fiance break up and he has to make all the payments alone, or worse they marry then divorce, and the home has to be put through a quick sale to be able to split the assets amongst them equally?
Yep..that guy was pretty dern' clever...
Here's the next part of the huckster article and don't eat or drink while reading because I don't wish you to choke or do a spittake on your laptop....
"Housing may soon rise from the dead, argue some economists. And, the severity of the slump may in fact accelerate the arrival of a recovery. "The truth is the correction in house prices and the low level of home building is really the cure for the housing industry's problems," said Jim Glassman, senior economist at J.P. Morgan Chase & Co. The lower prices fall the more affordable homes are becoming, even factoring in a decline in household income over the past few years due largely to the high level of unemployment."
This Lie is pushing the premise that housing is due a V shaped recovery and at any moment, its going to Bounce Up Up Up back to pre-2008 price levels. Remember, housing is in a double-dip. So what happened to that 'V' the first time around? The best letter to accurately describe the economy is an 'L'. The truth is the JP Morgan Chase economist is ignorant and a liar. If you were seeking to buy laundry detergent or cookies, then lower prices mean increased chance they'll be sold to consumers. Housing is different.
In housing, even if a home is the 'steal of a lifetime', you still need money to put a down payment at minimum, and most people barely have $2500 in savings which is why they live paycheck to paycheck. And the down payment percentage required before lending kicks in has increased since 2008 as lenders want less overall risk. Secondly, you're assuming your credit is so spotless that a mortgage lender will wish to risk their capital to lend to you. Lastly, Do you work? And you have a job now, what kind is it? Do you work at McDonalds or Macy's? Do you work for a state government where jobs are being slashed left and right? That all comes into play.
"The current year will achieve the highest affordability condition in 40 years," said Lawrence Yun, chief economist of the National Association of Realtors. Buying a home today looks even more affordable when compared to renting, which is becoming more expensive, as measured by the government's Consumer Price Index. So, in theory, more potential buyers should start thinking like Steven Liberati."
Too funny.. Mr Yun, nothing personal against one I've never met, but you are a professional Liar. In that I mean you draw your income by continually lying and spinning bad data to put both your employer, the NAR and the real estate market in the most positive light possible. You pick any statistic out of your um.. mind to inject hopefulness where it rationally has no place. If you worked in politics, you'd be a 'spin-doctor'... a partisan with no real credibility. You say basically this year is the best year to buy a home in the last 40? Tell you what-- 2012 is going to be even BETTER.
"All the bad news isn't bad news. Sometimes bad news is good news," said Drew Matus, senior economist at UBS Securities.
So all bad isn't bad because some bad can be good, but then again, some good can be bad too, unless good can only be good and bad can be bad or good...
Oh dear.. Pardon me but.. ~face slappp
The media are hucksters. They all work for the same corporate interests and Desperately.. and I do mean Desperately want the recession-depression to end. And if they have to relentlessly Lie to you on a non-stop basis, and turn bleakness into optimism, and turn rot into 'recovery', then they will Do it.. again and again until you give in and accept the "Hopium"
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