The Media Is Off the Rails

Every day we find out something else is going to derail the recovery. Today on the front of the Business section of The New York Times, we learned that high gasoline prices are about to derail the economy. The Wall Street Journal reports that the state of consumer is so weak that the "consumer-led recovery" is on "borrowed time." Hard to get credit because the era of easy credit is over.

Last week we learned that the sudden shock in bond yields to ultra-high levels (I know you can't make this stuff up as the rates are just back to where they were last year) is going to stop the sale of houses and, of course, derail the economy.

The closing of the GM and Chrysler plants we learned last week could strike a death knell to the nascent economic recovery. Forty thousand people could be laid off in the Chrysler dealer network alone.

The health care revamp is a prime candidate to derail the economy as is cap and trade and card check, the union giveaway -- the decision by the government to favor unions over capital in all showdowns.

USA Today has a story today entitled "Foreclosure Crisis Bleeds Into Prime Territory" that talks about high-end loan default. "It also threatens to undermine the housing recovery," the article reports about the once unblemished record of the rich.

All of these will nip the recovery in the bud!

This is the array of horrors that constantly gets paraded out by the media, which has almost never -- except with its endless free passes to President Obama's union growth stimulus plan -- says what would keep the economy on the rails. And no, that is not a comment that the media is negative and pro-Obama -- what I am talking about is the spin.

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