NPR Doublespeak

1984: WAR IS PEACE; FREEDOM IS SLAVERY; IGNORANCE IS STRENGTH.

SCOTT NEUMAN:  Is Moderate Growth Good For The Economy?

Common sense says high growth rates are good and slower, more modest ones are not so good. But is that always the case? After all, the “irrational exuberance” of the early 2000s helped bring on the recession as people borrowed and spent their way to prosperity.

Economists say growth will remain low and consumers will be cautious as long as unemployment stays high. Last month, the jobless rate stood at 8.2 percent.

Yes, unemployment over 8% will make consumers more cautious. A far cry from the “irrational exuberance” referred to by Greenspan when he used those words — in 1996 — to describe the stock market run-up to the dot-com boom & bust bubble.

More: from Wikipedia:

“Irrational exuberance” is a phrase used by the then-Federal Reserve Board Chairman, Alan Greenspan, in a speech given at the American Enterprise Institute during the Dot-com bubble of the 1990s. The phrase was interpreted as a warning that the market might be somewhat overvalued.

Somewhat overvalued? Not anymore. (dot.bomb; 9/11; The Surge; Real Estate bubble;…) Welcome to the 21st century.

(h/t : Human Events)

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