RUSH: Headline for the Associated Press: “Stocks, Bond Yields Sink After Gloomy US Reports — Stocks are mostly lower and bond yields are at a new low for the year after two reports dimmed hopes for the job market and the U.S. economy. The government says more people applied for unemployment benefits last week, the first increase in three weeks.” By the way, it was unexpected. Ahem. “A separate report says the economy grew at a sluggish 1.8 percent in the January-March quarter. Surging gasoline prices and cutbacks in government spending offset strong corporate earnings.”
Stocks “unexpectedly” tumble.
Unemployment “unexpectedly” rises.
So this economic news is not out of the ordinary. It’s bad. It’s a continuation of bad. It’s not surprising. It’s totally predictable. There’s nothing new here.
We’re continuing to spiral in the wrong direction.
RUSH: According to Reuters: “A department official said there were no exceptional factors to account for the rise in last week’s claims.” No exceptional factors, like no snowstorms, no tornadoes, no nothing. The usual thing that they could rely on to explain it, nothing out there. Even the Department of Labor is running out of excuses now. Do you ever think maybe the reason unemployment numbers go up is because we’re still in a recession? You think maybe you people in the media might want to consider a possibility: The unemployment numbers went up because we haven’t yet begun an economic recovery. It is absolute false, absolutely false to report that we’re in an economic recovery.
Everybody knows we’re not in an economic recovery. Now, you can give me three quarters in a row of economic growth of 1.2%, but it’s not translating to real life. Your stats, your reports (suspect as they are) do not translate to an improving quality of life for people. People don’t see more jobs available. They don’t see higher wages. There’s nothing with a recovery to be seen. You can tout the recovery going on, you can lament it’s not fast enough, you can lament that the pace of hiring is lagging behind where you want it to be. There is no replacement employment taking place — and, by the way, last week’s jobless number was revised up by 15,000 new claims.
The regime, however, got a week’s worth of good economic news out of a bogus number in the meantime. Oh, yeah! The number that we got last week was bogus because they’ve revised it, and guess what? The original report of a reduction in jobless claims last week turns out not to be true. The jobless number was revised up by 15,000 new claims. So there’s not a recovery going on. There never has been a recovery. All of that is a myth, and they believe it. Let me find something here. I hope I printed it. The second of two hit pieces on Roger Ailes is out today. Roger Ailes is the chairman of Fox News Channel, and there’s a hit piece in New York Magazine that ran on Sunday, and Rolling Stone has one out today — and it’s long. It’s like 13 or 14 computer pages.
I printed one excerpt. Well, maybe I didn’t print it out. But I know where it is. I go get it during the next break. What it does, this little excerpt reports on a poll of Fox viewers and what they think. I’ll give you one example off the top of my head. I forget the exact number. Let’s use 30%. They can’t believe at Rolling Stone that there are 30%… That’s not the right way to put it. They can’t believe that there’s a sizeable percentage of people who think that there actually isn’t manmade global warming, and guess what? That’s a kook view, and they all happen to watch Fox. Now, the mind-set, of course, is there is manmade global warming. It’s inarguable. There’s no evidence to the contrary. That’s obviously the belief of Rolling Stone and this small-minded, small-view writer (whoever he is) and a lot of the left.
Somebody comes along in a poll and says, “No, I don’t believe every scientist believes in global warming. I’m a skeptic.” You’ve just defined yourself as a kook. Well, by the same token, these people have gotten themselves totally invested in a lie, a myth, that there’s an economic recovery going on. There isn’t. How else can you take news like this and honestly be surprised by it? The only way that can happen is if you get news like last week, that “unexpectedly” fewer jobless claims, and you really tell yourself, “Yeah, we’re back, baby! We’re back! Obama! Yeeeah, right on, mama! The economy is rebounding!” If you genuinely intellectually have forced yourself to believe it, then you are not planted in reality.
RUSH: I found that paragraph in the Rolling Stone piece. It’s amazing. First, the arrogance and the smugness of the writer, Tim Dickinson. Hit piece on Ailes. This paragraph: “According to recent polls, Fox News viewers are the most misinformed of all news consumers.” Now, there’s not a poll that says that. This is this guy’s analysis of polls. It is his point of view that Fox News viewers are the most misinformed of all consumers. Okay, now, why? Well, Fox News viewers “are 12 percentage points more likely to believe the stimulus package caused job losses.” So the stimulus package, according to conventional wisdom on the left, according to this guy working at Rolling Stone, the stimulus package must have worked like a champ. It must be creating jobs left and right out there. The unemployment rate must be dropping.
Jobs, jobs, jobs must be popping up all over the place, because this guy says that Fox News viewers are the most misinformed of all news consumers, they are 12 points more likely to believe the stimulus package caused job losses. Well, in fact, it did. The stimulus package not only caused job losses, it continues to cause job losses. The stimulus package is killing the US private sector. It is diminishing it at the expense of government. Government is growing. The private sector is not. And yet the conventional wisdom is the stimulus worked. It had to work because it’s Obama’s plan. But people that watch Fox, they actually believe that the stimulus package caused job loss. Can you believe that? Well, it did. So in truth, the Fox News viewers are ahead of the game, much more connected to reality than Rolling Stone writers or readers.
Here’s the next. Fox News viewers “are 17 points more likely to believe Muslims want to establish Shariah (sic)law in America.” Yeah, did you know that Muslims in America want no part of Sharia? Are you aware that Muslims in America have no interest in Islam? Rolling Stone knows that. This guy and Rolling Stone readers know full well Muslims in America have no desire for Islam. All Sharia law is Islam. Sharia law is Islam. The Fox News viewers therefore are the kooks and the dangers.
Here’s the next one. Did you know that Fox News viewers, most misinformed of all news consumers “are 30 points more likely to say that scientists dispute global warming.”? That is a fact. It is a fact that there are scientists who dispute global warming. We have one on this program, our official climatologist, Dr. Roy Spencer, used to work at NASA, University Alabama, Huntsville. Pat Michaels. They’re all over the place, folks. There are many scientists, more than ever. In fact, global warming, manmade global warming has pretty much been buried now. It’s been established as a mankind hoax, but yet in a hit piece on Roger Ailes in Rolling Stone, the kooks are Fox News viewers who are likely to say that scientists dispute global warming. Apparently to this guy at Rolling Stone and Rolling Stone readers, there’s a hundred percent agreement that manmade global warming is real and that every scientist believes that. Only in kookville, i.e., the audience of Fox News.
“In fact, a study by the University of Maryland reveals, ignorance of Fox viewers actually increases the longer they watch the network. That’s because Ailes isn’t interested in providing people with information, or even a balanced range of perspectives. Like his political mentor, Richard Nixon, Ailes traffics in the emotions of victimization.” So Roger Ailes does not want those of you who watch Fox to be informed. He’s lying to you. He’s turning you into an ocean of kooks who actually believe now that Muslims want to establish Sharia law in America. And you idiots also think that the stimulus bill didn’t create any private sector jobs. And you also believe that there are people that don’t believe in manmade global warming.
Now, who, in truth here, is a gold brick? Who in truth is worthless to news? Rolling Stone, this reporter. Who, in truth, is a mind-numbed robot? Who, in truth, has been programmed to believe things that are in no way associated with the truth? This guy who wrote this hit piece at Rolling Stone and obviously their readers who lap this crap up. Stunning. Nothing’s real. Nothing’s real.
RUSH: How would you ever measure ignorance in a poll? This guy says “a study by the University of Maryland reveals the ignorance of Fox viewers increases the longer they watch the network.” How do you measure ignorance in a poll like this? The guy’s name is Tim Dickinson, and he is a nut, I’ve established by some of the titles of things that he’s written. Absolute nut. But he believes this stuff.
RUSH: There’s more economic news out there from the AP: “Sales of homes in some stage of foreclosure declined in the first three months of the year, but” dot, dot, dot “they still accounted for 28% of all home sales.” So here’s AP doing their damnedest to help Obama. Foreclosure sales slow but remain astronomically very high. There’s no evidence there’s any economic recovery, and there hasn’t been any evidence of an economic recover because there isn’t an economic recovery.
RUSH: On MSNBC today, the cohost Savannah Guthrie spoke to Becky Quick on CNBC’s Squawk Box about the new economic numbers. The Drive-Bys are just distressed, folks. The foreclosure numbers, the unemployment numbers, they’ve really got themselves believing that we are in a recovery — and it just isn’t happening (sobbing) and they don’t know what to do about it! Savannah Guthrie to Becky Quick (sobbing): “Becky, new numbers out today that show the economic recovery still has a long way to go-ho-ho-ho.” (crying)
QUICK: The numbers this morning on Wall Street have not been great. We saw jobless claims coming in. Those jobless claims show 424,000. That, again, is not a great number. That continues to be a disappointment. Perhaps even more concerning, though, is this new number we got for first quarter GDP. People have now been looking for 2%, maybe 2.2% for that reread. It came back in at 1.8%. So yes, things are just as lousy as we thought first time around, and that knocked the wind out of the sails of the market this morning.
RUSH: Yeah, the experts, they thought we’d have better numbers. What happened? Golly, we were really expecting better numbers! Where’s the Recovery Summer in Obamaville? Oh, they’re just distressed. They thought they had set the table. This happens to ’em every other week, ’cause every other week there is a deceptive number. Now, I don’t know what bit of economic news in the last two years they can look at as indicating we’re coming out of a recession anyway. There hasn’t been one shred of evidence. They have taken meaningless news stories, they’ve invested so much hope in them, and now they’re just depressed as hell.
It’s like they can no longer continue the illusion.
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