Today at 7 PM EST on Cumulus radio affiliates, ABC News's Brad Wheelis made the ridiculous claim that the economy is picking up because the stock market reached a high not seen since 2007. To justify his claim, he played an audio clip from an economist who talked about market fundamentals, but didn't say one word about the direction of economy. Clearly, Wheelis 1) doesn't understand that the market and the economy are not one in the same, and 2) was in a coma when most major news organizations reported in July that the Fed admitted that the S&P would likely be 50% lower if it weren't for liquidity pumping. But what do you expect from a liberal "news journalist" who does little to hide his bias and knows little of economics?
Tuesday, September 11, 2012
ABC News's Brad Wheelis Makes Unforgivable Econ Gaffe
Today at 7 PM EST on Cumulus radio affiliates, ABC News's Brad Wheelis made the ridiculous claim that the economy is picking up because the stock market reached a high not seen since 2007. To justify his claim, he played an audio clip from an economist who talked about market fundamentals, but didn't say one word about the direction of economy. Clearly, Wheelis 1) doesn't understand that the market and the economy are not one in the same, and 2) was in a coma when most major news organizations reported in July that the Fed admitted that the S&P would likely be 50% lower if it weren't for liquidity pumping. But what do you expect from a liberal "news journalist" who does little to hide his bias and knows little of economics?
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