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- Jun 7, 2011
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- Political Leaning
I'll judge the man on the content of his articles, not who chooses to allow the posting of them.
Cain main strength is his economic background. He is a "great" businessman so he should be able to take the economy back on track (perception). One way to find out if this is true is to look back at his past comments during the housing collapse. This quickly led the the recession. If Cain was president, or was in a position of power, what would he have done? Even though he has no political voting record, he made his opinions public.
Middle of the Housing Bubble
In 2005, when most economic analyst made it known that a pop will happen to the housing market. Herman Cain response:
Commentary: The Media Say the Economy Is Horrible, So It Must Be True
Wednesday, August 17, 2005 10:00 AM EDT
You could write a book just on how poor the coverage has been of the alleged housing bubble. The media have been foretelling a massive bust in housing prices for months now. On May 19, ABCs Elizabeth Vargas said: The run up in housing prices is now beginning to look something like the boom in Internet stocks, and we know what happened there. That kind of ignorance makes homeowners fear that their most expensive possession could turn worthless overnight. That wont happen. No matter how much the media compared Bush to Herbert Hoover last year, this is not the Great Depression.
Note: he was mad that the media was bashing Bush because under his analyst, he was doing great. Working in the fed, he probably develop a Cainynesian economic way of thinking and was reassure of former Fed chairman Alan Greenspan saying "we have a strong economy". If you're wondering, the fed is bad.
Within the next month to years end:
Damnit, well maybe it's just a bloop and will pass. What are your predictions next year Cain?
A Whale of a Tale
By Herman Cain
Wednesday, December 07, 2005 9:00 AM EST
Holiday traditions are grounded in stories from the past, including how St. Nicholas became Jolly St. Nick. But some storytellers are hard at work no matter what the season. You can always trust the liberal wing of the U.S. news media to come up with a whopper. Unfortunately, these tall tales arent harmless. They distort the facts, deliberately mislead the public, and form the basis for bad public policy.
It is my hope that calling attention to media bias and distortion will empower the public and policymakers to be better news consumers in 2006. We must demand that the media stop treating us like were stupid. We must show them we know the facts. To this end, the Media Research Centers Business & Media Institute, which focuses on the accuracy of business and economic news, has released its list of the Top 10 Media Myths of 2005.
5. The housing bubble is about to burst. The media have been harping on this one for years. Way back in 2001, the housing market was supposedly on the verge of catastrophe. Journalists dont seem to understand that there is no such thing as a national housing price. Each local market has its own ups and downs. And when prices start to go down, its good news for those who want to buy.
Cool, thanks Santa Cain, I'll go buy one. Everything is going to be alright everyone!!!
So, ok, a mistake happens once in a while. But the economy is doing great according to Cain and he gave us a great outlook for 2006. But the housing market are still falling Cain, should I be concerned?
When Republicans were in office in the early '90s, it was the economy. TV told us it was in bad shape and hyped the slogan "It's the economy, stupid"—helping Bill Clinton slink into the West Wing in 1992. Afterward, the Washington Post admitted the media had been wrong. A Jan. 29. 1993, report revealed that "growth for the second half of last year was the strongest in five years." The economic reporting was just another fairy tale.
Now, 14 years later, the media are telling the same economic story—trying to convince us that what goes up must be down. It has many names—housing bubble, recession, gas prices or even hurricanes named Katrina or Rita—but the boogeyman is always the same. The media portray it as another Big Bad Wolf out to huff and puff and blow away the economy.
Source: Human Events Oct. 23, 2006 (p. 20)
Ok cool, it's just the liberal media playing tricks on us like they did in the early 90's. Nothing to worry about....
2006: Continued market slowdown. Prices are flat, home sales fall, resulting in inventory buildup. U.S. Home Construction Index is down over 40% as of mid-August 2006 compared to a year earlier. A total of 1,259,118 foreclosures were filed during the year, up 42 percent from 2005.
Ah ****! Damnit Cain, I thought you told me it was just the boogeyman!