The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Wednesday, January 29, 2014

Fox News Sells Water Rights In A Desert! Hemmer And Rove Stretch The Limit of Sanity And Forsake Veracity

Fox News' Bill Hemmer dismissed the historic magnitude of the 2007 economic recession, suggesting instead that the Obama administration is attempting to "placate the left" by pointing out the president inherited the worst economic crisis since the Great Depression.

Gearing up for this week's State of the Union address, White House Senior Advisor Dan Pfieffer appeared on Fox News Sunday on January 26 where he reminded the host how Obama "inherited the worst economic situation since the Great Depression, a financial crisis."

America's Newsroom host Bill Hemmer challenged that description of the recession on the January 27 program. Speaking with Karl Rove, Hemmer said of Pfeiffer's statement, "I heard that and I -- I don't know if that is what they're saying to placate the left or whether that's something they truly believe."

But the fact is that the recession underway when Obama took office was the worst economic crisis since the Great Depression.

We offer thanks to Media Matters for the capture.

Political propaganda is one thing. When alleged news networks book guest who served as a chief political architect and "operative" of an administration, for unequivocal lies, that is yet another matter.

We are seeing reports this week of an NBC/WSJ poll with polling results 68% of respondents believe they are worse off since Barack Obama was elected president.  While we recognize the perspective of any data and information with the brand "WSJ" affixed, the 68% could be attributed to propaganda as spoken by Hemmer and Rove. 

The American public according to Pew and Gallup, get their news from television. Fox News is by far the cable leading outlet of "alleged" Fox brand news/propaganda. We don't find the 68% report alarming, if it is factually accurate.

As we often do, let's take a quick visual journey through data and graphic representation you will never see on Fox News. Actually, now that Ali Velshi is no longer employed by CNN, you will not see full reports of the following data on that network.

Real GDP Growth the St. Louis Federeral Reserve Bank (FRED)

The effects of the Bush Great Recession hit US GDP in early 2008 and shows improvement shortly after President Obama took the Oval Office in 2009. Our reason for posting this image relates to the significance dip in GDP growth. 

The Bureau of Labor Statistics provided another look at Bush's GDP Legacy.

Let's review a real comparison of Bush's economy with the 1929 Great Recession.

The Business Insider
Infographic: The Great Depression vs. The Great Recession

The infographic also shows an intriguing line chart of young adults in multi-generational households.  Which is every time I look at economic data over the recent past, I find line charts with exponential inordinate trends upwards. Who was president in the early 1980s? 

Unemployment during The Depression and Bush's Great Recession.

Emily  Greenhalgh Multimedia
An infographic about comparing the latest recession with
the Great Depression and the late 1980's recession. 
We have linked a piece created as part of a multimedia portfolio showcasing unemployment in the U.S. It was produced for Michelle Johnson's advanced online journalism course at BU. 

We have to wonder if Hemmer's viewers remember the state of the US auto industry? No, we are not going to rehash the fact newly elected President Obama and economic team were singularly responsible for fighting-off GOP "dissing" the auto industry with one leader saying, "...let them go Bankrupt." 

Before we move to Housing and Home Construction, we will move forward from a graphic Mr. Hemmer's writers and producers really should staple to  Hemmers desk.

Homes construction and sales

We post the next chart to show the extent to which Bush/Cheney's leadership "HIT" US Housing Starts. Of course, Hemmer and Rove's comments fizzle when one views data that clears shows the fallacy of their oratory and rhetoric.

Now for a key indicator, Hemmer and Rove chose to speak to people who satisfy themselves with "derangement rhetoric" rather than actually seek "higher levels of information." The next chart speaks to a damaged manufacturing base that Bush/Cheney et. al, took to the level of comatose.

While million derive little to no direct benefit from a expanding Stock Market, they certainly benefit in a non-tangible sense via considering the Markets in 2007 - 2009.

S&P 500 (^GSPC)

1,792.50 Up 10.94(0.61%) 4:31PM EST

S&P 500 (SNP)

Chart forS&P 500 (^GSPC)

S&P 500 (^GSPC)

Prev Close:1,781.56
Day's Range:1,779.49 - 1,793.87
52wk Range:1,485.01 - 1,850.84
Quotes delayed, except where indicated otherwise. Currency in USD.

Dow Jones Industrial Average (^DJI)

15,928.56 Up 90.68(0.57%) 4:31PM EST
Dow Jones Industrial Average (DJI)

Chart forDow Jones Industrial Average (^DJI)

Dow Jones Industrial Average (^DJI)

Prev Close:15,837.88
Day's Range:15,840.84 - 15,945.89
52wk Range:13,784.00 - 16,588.20
Quotes delayed, except where indicated otherwise. Currency in USD.

NASDAQ Composite (^IXIC)

 -Nasdaq GIDS 
4,097.96 Up 14.35(0.35%) 5:15PM EST

NASDAQ Composite (Nasdaq GIDS)

Chart forNASDAQ Composite (^IXIC)

NASDAQ Composite (^IXIC)

-Nasdaq GIDS
Prev Close:4,083.61
Day's Range:4,067.69 - 4,099.81
52wk Range:3,105.36 - 4,246.55
Quotes delayed, except where indicated otherwise. Currency in USD.

I read the markets performed at the level of 28% during 2013.

People who feel that United States is worse-off since Barack Obama moved into the Oval Office, are obviously avoiding the reality of an improved nation and a nation that continues to improve (economically) despite focused and concerted obstruction from the Right.

Fox News is what it is, and it will not change as their busienss model generates copious revenues.  Problem is, we have people tuning-in to the network who have everything to lose by buying into the Fox News message, political propaganda and conservative dogma. We find it totally unfathomable for a network to guest a person who sat in the White House within feet of two men who literally provided the worst Executive Branch leadership in US history.

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