Is the American economy about to implode? You’d sure think so, at least if you watch the establishment media.
Despite the many indicators that the country is doing just fine, it seems the media has suddenly decided that the sky is falling. If you noticed an odd spike in the number of negative news stories about recession fears over the last few weeks, you’re not alone.
Longtime talk radio host Rush Limbaugh noticed the same thing, and he decided to speak up about it during his Aug. 14 program.
“The Drive-Bys, they’re incorrigible. Now they are literally trying to once again talk the people of this country into a recession,” Limbaugh noted, using his favorite term for the easily distracted media.
“I wouldn’t blame you if you thought the economy was about to tank. You turn to The Drudge Report right now: ‘Yields flash recession warning, stocks dive, banks hammered,'” Limbaugh continued.
Sure enough, a quick check of Google News results over just the past week shows story after story predicting monetary gloom.
One from Yahoo Finance summarizes the hysteria well: “A US recession is probably coming so investors should just deal with it,” Yahoo’s headline declared, as if it was something terrible but unavoidable, like an oncoming hurricane or another season of ABC’s “The Bachelor.”
And another glance at Google data shows that just as Limbaugh mentioned, concern over a recession has skyrocketed, seemingly from out of nowhere. Take a look at this chart from Google Trends, which shows the relative frequency of searches for “recession.”
As you can see, people usually search for “recession” about as often as they search for “2020 election.” It’s clearly something that’s on people’s minds, but they have about as much interest as they do in the election, which is still over a year away.
That is, until about Aug. 4. Since that first week in August, Google Trends reveals a staggering spike in the number of people searching for “recession,” with a dramatic fivefold increase in interest.
That’s right around the time that media outlets started their gloomy economic chatter — and according to Limbaugh, it’s a media scheme.
“The Democrats always, when there’s a Republican in the White House, we’re always on the verge of recession,” he said. “There is no recession,” he insisted. “But I’m telling you this: The financial people in this country are all leftist. You haven’t seen anything yet in their efforts to destroy Trump.”
“This isn’t the result of what’s happening in the markets. This is what these people want you to think is happening,” Limbaugh said. “They are attempting to move public opinion so they can then go out and do a poll that will show whatever percentage of Americans are worried to death about a recession,” the radio host added.
On the one side, you have earnest-sounding news anchors breathlessly claiming that the economy is shaky. On the other side, you have people like Limbaugh saying that’s a lot of baloney. So whom should you believe?
Check the unemployment numbers for yourself. (They’re near record lows for a variety of demographics, including African-Americans and Hispanics.) Take a look at jobs reports, which show that there’s plenty of work out there. Take a glance at the stock market, which has grown impressively — especially when you zoom out and see it in context.
And besides those indicators, you should see what your own two eyes do. If you turned off the news for a day and just looked around your own neighborhood, do you feel things are looking up or looking down?
If they’re looking up, then you might want to do what Limbaugh recommends: Keep moving forward, and don’t fall for the doomsayers.
Truth and Accuracy
We are committed to truth and accuracy in all of our journalism. Read our editorial standards.