Of all the things that annoy me about mass media these days, nothing beats the obsession most TV networks, newspapers and magazines have with painting America's recent recession as "the worst since the Great Depression."
I know things have been tough, but that claim isn't even remotely true.
Let's look at some facts.
The recession has been officially over since the middle of last year. The highest recent level of unemployment was significantly less than what it was during the 1982 recession. Inflation has been only a tiny fraction of the levels of '74 or '82. Home mortgage interest rates are historically low. And the stock market is currently ten times higher than it was in the ‘70s.
I don't think those facts really support the misguided notion that these are "the worst of times."
What I do think is that because far too many media outlets have a vested interest in serving up doom and gloom scenarios -- and because it's easier to sell sensationalism than solid journalism -- the truth has been taking a beating.
I do understand that for those who are still jobless and suffering from the downturn in many other ways, this is as bad as it gets. And we shouldn't forget that. But the nation as a whole has seen much worse.
All things considered we're doing far better than the east coast media would like us to believe.
I'm Bill Lamb, and that's my…Point of View.