75% of people don't know what they're talking about
i saw this today on CNN:
http://www.cnn.com/2008/POLITICS/03/17/poll.national/index.html
it states that according to a new poll, 75% of americans think the country is in a recession. that would be a riveting and meaningful article if recessions were a matter of opinion. sadly, economists in their extensive trickery came up with this amazing little thing called a "formula" to determine what qualifies as a recession. two or more consecutive quarters of decline in GDP. not "gas is really expensive" or "i can't afford an iphone" or even "i felt poor lately." just two consecutive quarters of decline in GDP. would it be difficult for CNN to include that in the article?
i strongly dislike CNN. it's like one step above star magazine.
http://www.cnn.com/2008/POLITICS/03/17/poll.national/index.html
it states that according to a new poll, 75% of americans think the country is in a recession. that would be a riveting and meaningful article if recessions were a matter of opinion. sadly, economists in their extensive trickery came up with this amazing little thing called a "formula" to determine what qualifies as a recession. two or more consecutive quarters of decline in GDP. not "gas is really expensive" or "i can't afford an iphone" or even "i felt poor lately." just two consecutive quarters of decline in GDP. would it be difficult for CNN to include that in the article?
i strongly dislike CNN. it's like one step above star magazine.
3 Comments:
Heaven forbid people predict something before waiting two months to be proven correct.
By
Anonymous, at 11:47 AM
This comment has been removed by the author.
By
martha, at 3:36 PM
i appreciate the sentiment, but...
1. two consecutive quarters would be six months.
2. again, a recession is something that you are either in or you are not. it isn't something to be debated. kinda like being pregnant.
3. people are not predicting anything. they say that they think we are already in a "bad" recession. saying we are headed toward a recession would be a totally different statement. that's why the fed has been trying to help out the economy by reducing rates.
4. i could be wrong, but i'm pretty sure that we haven't experienced any ongoing decline in GDP since at least 2001.
5. it seems that there are always these kinds of economic concerns in an election year.
6. i am not saying things are perfect. i would just like journalists to try and have accuracy in their reporting.
:)
By
martha, at 3:38 PM
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