Yesterday I wrote a post in reaction to an AP story about how the rate of savings in the US was worse than any time since the Great Depression. I've since deleted that post after learning that the author, the AP's Martin Crutsinger, used "fake but accurate" data:
Martin Crutsinger of the AP scored big on the Bush administration with a deceptive story about the nation’s savings rate.
After-tax savings rate, that is.
The rate that does not include the $3.2 trillion Americans have socked away in 401 Ks and other pre-tax savings plans.
But Crutsinger’s report led to the headlines sought, like this one in the Columbus Distatch: “Savings rate lowest since Depression.”
It is the Depression all over again to the liberals who run big-city newspapers.
Except for the part where 136 million people have jobs.
And except for the part where exports are at an all-time high.
And except for the part where we have $3.2 trillion socked away in 401 K-style plans.
In fact, it was just last Saturday that Damon Darlin of the New York Times told us we have too much money socked away for retirement
The Associated Press and other "news" outfits have a huge boner for disinformation and fake news lately. Witness all the Manbearpig stories lately about global warming while I woke up this morning to a wind chill of -8 here in Opie.
When is the media going to cut this BS out?
I think the media is just trying to get away with whatever crap they can lob at the American Idle public. They want you to believe that Muslims are the "religion of peace", that the USA is the bad guy in Iraq, that it's a bad thing that dictators and thug regimes from around the world hate us, that Hillary is liked by anybody other than the completely deranged, and that global warming is real because Al Gore or Leonardo DiCaprio say so. Fuck them all. The general public has done a good job of decimating the newspaper and media industries by not subscribing to newspapers and turning off the evening news. We just have to keep it up until they no longer get any funding in order to promote their lying crap.
Crutsinger also began his story for the AP wires about the Fed cutting rates on Tuesday by 0.75 bps by saying it was "unexpected" which is poppycock. Most of Wall St expected 0.75 to as much as a whole point. Even CNBC was publicly predicting a large cut to the Fed rate. Apparently Mr. Crutsinger was the ONLY one who was surprised by the cut in the rate.
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