RUSH: This is Eddie in Killeen, Texas. Hi, Eddie, thanks for calling. Great to have you on the program.
CALLER: Dittos, Rush.
RUSH: Thank you.
CALLER: Just had a question for you. Everybody’s always talking about how our economy is going to tank and everybody was worried about the housing market and everything, yet we went up, what, three-to-500 points yesterday, and I just noticed on the Drudge Report the other day that the British economy is having a hard time. In fact, they had a bank run and it just got me curious to why our economy is doing so good versus theirs. If they want to live there and enjoy Britain, so forth and so on. Just a question if you could answer that.
RUSH: Why is our economy doing good versus theirs in the UK?
CALLER: Well, yeah, pretty much. I mean, everybody’s always talking about how our economy is going to collapse and everything, and then you have a —
RUSH: Let me explain that. I’ll give you two illustrations of that, too. The thing that you’ve gotta understand here, folks, and frankly I thought I had made this clear, patently, brilliantly clear in recent weeks and months. The Drive-By Media is obsessed with keeping you in crisis, filled with angst, anxiety, despair. They want you thinking you’re going to die; that they’re going to foreclose on your house; that the fast food you’re eating is going to kill you; that global warming is going to destroy your kids’ future. There will be no good news reported in the Drive-By Media. That’s not in the narrative right now. The news is all negative, and it’s all bad.
Let me give you two stirring, striking examples. Eddie here is correct. The fed cut a couple of interest rates a half point yesterday, which was more than the, quote, unquote, experts were expecting. As a result of that, the Dow Jones Industrial Average and the NASDAQ went through the roof, 300-plus points, 330-plus points and the Dow Jones is up another 107 — it was last time I looked. That was not recently. NASDAQ was up again 20 today, excited the markets. Well, that’s good news. But no, it’s not. First, from the Los Angeles Times today, a story by David Lazarus: ‘Fed’s Rate Cut May be Bad News for Some.’ Oh, yes.
‘If Tuesday’s larger-than-expected cut in interest rates makes it cheaper and easier for people to get loans, that could be bad news for Yusupha Touray. By his estimate, Long Beach resident Touray, 27, owes about $93,000 in credit card, phone, utility and hospital bills. ‘When my bills come, I know I don’t have any money to pay them,’ he said. ‘So I don’t bother anymore.’ Nevertheless, Touray said he gets pitches from credit card issuers in the mail almost every day. If those pitches become a smidge more attractive because of lower interest rates, he said he may just be tempted to go even deeper in the hole. ‘It’s amazing,’ Touray said. ‘You keep saying no, and they just keep making more offers.’ … For consumers, the rate cut will mean lower mortgages for some, but also lower credit card rates and lower rates for auto loans.’ Oh, no! The crisis of low rates. ‘And for those who aren’t careful, it could result in even more debt for a country that’s already drowning in consumer debt.’ So you see, the Fed cuts rates, stock market goes through the roof, new confidence in the economy ignites, and the Drive-By Media has to point out it could be the end of your financial solvency.
NBC Nightly News did the same thing. Brian Williams wondered last night if it is good for everyone. The correspondent that they used at NBC Nightly News, Kevin Tibbles, said, ‘Experts say beware of the downside of an economic upturn.’ Beware of the downside of an economic upturn. So this, ladies and gentlemen, explains why whatever news that is positive and good, especially that could be attributed to policies of either the White House or Republicans, they’re going to be smeared, and you are going to be told, ‘Don’t be fooled. The economy may be looking good, but that’s bad news for you because it may lead you into deeper debt.’ Brian Williams introduced the money honey, Maria Bartiromo, yesterday, ‘As one market watcher put it today, the Federal Reserve just might have saved Christmas. The Fed today jumped in to try to prevent a recession, to try to keep credit card bills down and mortgage rates down, and just maybe save the housing market. But will it work? The Fed cut a key interest rate today for the first time in four years. They cut the rate by a half percentage point. It now stands at 4.75 percent. The stock market loved it, shot up 300 points, because it’s good for business. But is it good for everyone, and how soon will we know?’ (Panting).
Anyway, Bartiromo gave a pretty upbeat market analysis. The next segment on the Nightly News focused on how lower interest rates will help the soft housing market, and other sectors of the economy impacted by consumers. Unfortunately, correspondent Kevin Tibbles exposed some dry-rot: ‘But experts say beware of the downside of any economic upturn. More demand for oil, for example, could make heating homes this winter an expensive proposition.’ Then Tibbles went and spoke with a futures trader who provided the obligatory doomy and gloomy forecast. He says, ‘I don’t want to soft soak it for the people that are paying heating bills. They’re going to be probably paying record high prices, especially if you heat your home with heating oil. You’re going to be very vulnerable. If we have a cold winter, we could see prices like we’ve never seen before.’
So learn it, love it, live it. After great news and great performance on the stock market yesterday, the Drive-Bys simply have to run out and find the bad news, and it’s absurd. It is literally ridiculous. I will guaran-damn-tee-you, were a Clinton or any Democrat in the White House, and this had happened yesterday, you wouldn’t get one shred of a warning about the possible bad news for you in the middle of an economic upturn. It’s really shameless. It’s journalistic malpractice, and they think nobody spots it. This is their narrative; this is their template; this is how they go about trying to keep you constantly on the edge of your chair and worried and doom and gloom. Look, there’s a piece here that I have from the UK Daily Mail. It really dovetails with what I just said. Here’s the headline: ‘Revealed, the Secret to True Happiness.’ This is a column by Maeve Haran. I assume this is an info babe. Just guessing it’s a female name.
”Why aren’t I happier?’ sometimes seems the anthem of our age. We look for happiness everywhere: through work, success, through our choice of partner and even in our home. And when we don’t find it we turn to shrinks, to life coaches, even to TV makeover shows. It’s the great contradiction of our times. We have a better lifestyle, more holidays, newer cars, and more disposable income than any previous generation. Yet we’re unhappier than ever, with a constant stream of statistics about stress, depression, loneliness and even suicide.’ Uh, hey, Maeve, could that constant stream of negative information be the source of people’s unhappiness? Could it be the drivel and the bilge that you people in the media put out day in and day out that is keeping people upset and unhappy and unsatisfied and all the rest?
‘Another piece of research found that we have fewer than half the number of friends we had in the Sixties. Of course there are some good reasons for our anxiety. We live in a world where change is fast and we can’t control it. Work is pressured,’ blah, blah, blah. So while she goes on and on here about, ‘I don’t understand. Things have never been better and we’re miserable,’ and she cites the reasons to be miserable later on in the piece. It’s a brilliant psychological ploy by the Drive-Bys. ‘Making contact with other human beings makes you feel instantly better,’ she says. You know, it’s a story from the UK, but you can apply this to the United States as well. I’ll tell you, let’s just stipulate for the sake of discussion that we are more affluent than ever, our lifestyles are advanced, we do have more time off, everybody has new cars, goes on vacation, and yet human nature looks for reasons to be unhappy. Some people have a fear of success. You know how a fear of success manifests itself? Somebody becomes successful, ‘This isn’t real. This isn’t going to last. This is not genuine.’ That’s fear of success. I myself have never had that fear, but a lot of people do, and it’s based on insecurity. It’s based on, ‘I’m not good enough. This is an accident.’
Human nature is oriented toward the pessimistic, and these people in the Drive-Bys are feeding it. But there’s something else here. For people that are going through life with all kinds of life aids and life comforts, disposable income and this sort of thing, if there’s no meaning to someone’s life, I don’t care what they have, and who they know, their lives are not going to be happy. I think with the efforts that have been made in this country for years, and in the UK it’s even worse, to get God out of any public discussion, reference, whatever, people that do not know and do not have a comforting confidence that there are things in life larger than themselves, are destined to be miserable. Frankly, I think that this explains much of the derangement and psychological attitude that we find in today’s liberals. Because in themselves, they are the center of the universe: their thoughts, their desires, their dreams, their wishes, what they want for themselves and for you. That’s their world. That’s their focus. Of course, you’re never going to be happy if you have that kind of an ego where everything revolves around you. When you think that what you want for yourself and everybody else is the only answer, you are destined to be miserable and angry for a whole host of reasons. And that’s them. They have nothing.
They come up with all kinds of false gods. Could be a tree, could be the planet, it could be any number of things. And those false gods give them no comfort, because those false gods are tangible things, and God is not tangible in the sense we all are spiritual. Now, if you have no idea that there are things much larger in life than yourself, and if you have no ability to invest faith in that concept, you are destined to be miserable. Now, who is it that’s putting all these new statistics out? It’s liberals. One of the things they want is for everybody to be like them. That’s part of their superiority. If they’re miserable, by-God you’re going to be and here’s the reason why. Yeah, the stock market, great news yesterday, but, it could ruin you, because you’re just a schlub, you’re a plebe, and you’re so stupid you’re going to go out with this new interest rate cut and you’re going to start borrowing money left and right. You have no clue, you’re going to go further into debt, and we need regulations to keep you from being stupid. They’re also mad that everything they believe never works, folks. And they know this. Every philosophy they have fails. It’s understandable that they are mad. The trick is to understand it when you watch anything they do, anything they say, any news that they report.