Elizabeth A. Leib

by Elizabeth A. Leib

Media coverage is often politically motivated or influenced by powerful people like Rupert Murdock. This article by Kevin Hassett, director of economic-policy studies at the American Enterprise Institute, is no exception. As a columnist for Bloomberg News, Hasset makes the case that current coverage of economic data pointing to recession favors Obama’s bid for the presidency. On the other hand, many argue that economic measurements favor corporations and the wealthy at a time when the majority of individuals and small businesses struggle disproportionately.

Responses to what we believe about the present and future state of the economy can be colorful and highly subjective. Paranoid? Then our economic system is manipulated by a powerful banking system, multi-national corporations and foreign governments. Believe the end of time is coming? Read the book of Revelations to find clues about how the digital economy may be a tool of the antichrist (think of the number 666 in a digital chip embedded on your forehead). Depressed? No one is in control and we’re all doomed.

Pick your poison I suppose.