Posts Tagged ‘liberal media’

Biased Media Slants Falling Oil Prices To Suit Liberal Talking Points

August 5, 2008

It’s really quite remarkable how the elite media distorts in whatever way is necessary in order to continue to drive home its liberal agenda.

CNNMoney.com ran a story yesterday that claims that the recently falling fuel prices (which most would see as a good thing) are actually a bad thing – a harborer of looming recession:

NEW YORK (Fortune) — Oil prices are falling sharply, and that’s good news. But not nearly as good as you might think.

No doubt the drop, down to $120 by mid-day Monday, gives strapped consumers relief at the gas pump. Prices have dropped below $4 a gallon and could be headed toward $3.50, going by trading in wholesale futures markets. Any decline will be welcomed by Americans struggling under the burden of falling house prices, rising layoffs and stagnant wages.

But falling oil prices also suggest that the recession the U.S. has so far avoided is well on its way, as consumers pull back from the spending spree that drove economic growth earlier this decade. A weakening economy will mean more layoffs, further pressuring already reduced spending.

“There is no doubt that with gasoline prices dipping below $3.90 a gallon we have a bit of a reprieve on the energy front,” Merrill Lynch economist David Rosenberg wrote in a report Monday, “but the reality is that this is a chicken and egg game because the decline is reflecting the consumer recession.”

The liberal media mantra is this: the Bush economy is terrible. The implication is this: you need to vote Democrat for the sake of “change.”

There is an unrelenting presentation of negatively-viewed coverage on the economy when Republican administrations are in power – especially during election years. And the identical economic statistics – or even worse numbers – are somehow are viewed in a more positive light when Democrats are in power.

Stop and think about it:

First of all, Americans are doing all the things that liberals have been wanting them to do: they are driving significantly less, using less oil. They are trading in their big gas guzzlers for economy cars. Heck, they’re even inflating their tires! Americans are doing what liberals have been telling them to do for years. Yet somehow, this amounts to dire news for the economy.

Let me simply assure you that this media narrative would be entirely different if Barack Obama were president.

Second, why did Americans drive so much less? Because gasoline was so overpriced. Only liberals don’t get the fact that when something becomes more expensive, people will use less of it.

Because the price of oil is a function of the relationship between supply and demand, when the demand is reduced, the supply becomes greater and the price goes down. It had nearly nothing to do with “oil company price gouging” or “speculator’s manipulation.” It had almost everything to do with the fact that China’s and India’s massive increase in oil consumption accounted for the fact that the relationship between world demand and world supply was beginning to drive up the relative value of oil.

President Bush’s ending of the executive ban against drilling for offshore oil immediately resulted in the biggest decrease in oil prices in 17 years as the market reacted to the promise of increased oil supplies in the future.

Meanwhile, lying demagogue Harry Reid attempted to take credit for the price reduction, claiming that the Democrats’ legislation against speculation was what was actually reducing the oil prices. That’s been proven to be patently false, however: the speculation bill went down in defeat, the Democrats went on a five week vacation, and yet oil prices have continued to drop. Had Reid been even partly right, the speculators who got out of the market fearing the Democrats’ bill would have jumped right back in. Yet somehow that’s just not much of a story for the elite media.

The media have repeatedly told Americans that we are in a dire recession when such is not the case. We haven’t had any negative growth quarters, and the last quarter was a positive 1.9% and an increase from the previous quarter. And while our economy has clearly cooled off, it is still the best on the planet.

You can always look at the bright side, or look at the dark side on anything.  And again and again, in every way possible, the media looks to frame its coverage of the economy in order to favor Democrats and hurt Republicans.


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