Dec 10
10 Top MSM economic myths of 2008
10. Capitalism is dead or dying.
9. Gas at $4-a-gallon, blame the oil companies.
8. Fannie’s failure
7. Barack Obama sends stocks soaring, but not sinking.
6. Alternative energy: All gain, no pain
5. The economy has a fever and the only prescription is more bailouts.
4. Attack of the Killer Tomatoes
3. Oil prices will skyrocket to $200 a barrel, gas to $15.
2. Welcome to 1929: Great Depression II
1. America needs a new, New Deal.
Read the rest @ the BMI.
Oh and why you are on the list kick…check out 10 reasons why coalition government is a bad idea for Canada.
3 Comments so far
[...] See more here:Â 10 Top MSM economic myths of 2008 [...]
But don’t you think that bailouts and wrong policy responses will lead to a situation comparable with the 1930’s?
10. I hope not
9. Blame loose monetary policy
8. I heard a senator say that the US government would “pay anything for Fannie.” Given your UK experience, i am sure you know what that sounds like over here.
7. I think we will have a bear market rally like the one in late 1929 / early 1930. Nothing to do with Obama, everything to do with the ebb and flow of sentiment.
6. All pain, no gain.
5. Bailouts will make it worse. Well, I also disagree with the MSM media here - but I think it’s worse than a fever.
4. errr
3. hard to say unless you forecast what printing US$s will do.
2. yeah - maybe the ‘long depression’ of the late 19th C is a closer comparison
1. America needs to get rid of it’s corrupt relationship between big business lobbyists and politicians.
Dangerous vegetables…
Here is an interesting list of the worst economic notions or economy-related stories in 2008, from a mostly US perspective. My personal favourite is the one about “killer tomatoes”. (Hat tip: Andrew Ian Dodge)…….