In response to:

Media Ushers in Cowardly New World

FletchforFreedom Wrote: Dec 28, 2012 12:39 PM
The multiplier is misapplied under Keynesianism because it fails to account for the use of funds if not removed from the private sector. A positive multiplier associated with government spending is always in contrast to leaving those monies in government hands unspent. Offset by the cost of removing those funds from the private sector the real multiplier of all government spending is negative.

What a difference a few month makes.

Last month we were told by a fawning news media how great things were. The economy was a little engine that could.  And the declining unemployment rate was touted in headlines as significant progress toward economic recovery.

Unemployment rate falls to 7.8% in September, reported the Washington Post- a four-year low...”nearly”… whatever “nearly” means.

“The nation’s jobless rate dropped to its lowest point in nearly four years in September. And unlike some recent declines, this one happened for the right reason: not because people gave up looking for a job, but...