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Murdoch 'Shocked' by Media Pessimism
The nation's top media moguls aren't feeling very optimistic these days, according to News Corp. Chairman Rupert Murdoch. In an interview with Fox News from the Allen & Company conference in Sun Valley, Idaho, Murdoch said he was "shocked" at the "very bearish" mood of his colleagues. Most at the conference think it will take at least five years before the economy sees "any real growth." He also said that if the market doesn’t improve by the end of the year—when he predicts “unemployment goes above 10 percent before Christmas”—Obama’s approval ratings could plummet in the public sector as well as in the media. Though for the moment, the media “remains very supportive” of the president, Murdoch said, pointing out the exceptions of Fox News and The Wall Street Journal, both of which the press mogul owns.
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He might add sleeze factor but I'm telling you, 5 years is a pretty good estimate. And that is just for positive growth, it will be 10 before we are growing at a good clip, just in time for another recession.
Murdoch and the Republicans know that historically unemployment continues to rise for several years after a recession is declared over. These people are banking on being able to convince the American people that the pain associated with cleaning up the Republican's economic mess is the fault of the Democrats.
However, Barack Obama has proven himself to be the most articulate President in modern history. And he will have to educate the low information American voter about these facts.
Rupert Murdoch is the spiritual heir of William Randolph Hearst. He's a terribly negative force in American life and an absolutely unscrupulous liar.
This could be so "Dolmance", but in America "it's the economy, stupid", that changes Presidents faster than one can blink an eye. If the economy does not turn round or worsens, Obama will be history after one term. This may not be fair, particularly with this unusually weak economy caused by bad policy from the past and proving extremely complicated to turn around. Americans have more patience dealing with a war than they do dealing with a weak economy.
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Who gives a sh*t how the "top media moguls" are feeling these days?!
Rupert Murdoch is one of the richest businessmen in the world.
(He is worth a total assets of approximately US$61 billion and total annual REVENUES of approximately US$33 billion.)
So we get to hear what we already know - that the economy is bad and that its going to take time to become stable again after the tailspin into which the unleashed financial sector (banks & brokers) took us.
And his opinion is newsworthy because?
Thank you.
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