ABC Rolls Out the R-word as Markets Dip Below 11,000

ABC Rolls Out the R-word as Markets Dip Below 11,000
Reporter Stark warns a recession could be coming, ignores how well the economy is doing.

By Ken Shepherd
Business & Media Institute
June 8, 2006

     The medias economic death watch continued on the June 7 World News Tonight as ABC correspondent Betsy Stark took a look at the falling stock market and raised the specter of inflation sparking a recession.

Is the correction over or are there more jobs to come, new anchor Charles Gibson asked Stark after noting the stock market had closed under 11,000. Stark corrected Gibson, noting that the market is not seeing a correction, which she defined as a 10-percent drop in value in a given month. However, Stark warned, if the Federal Reserve would raise interest rates too much to fight inflation, it could spark a recession.

Stark didnt balance that negativity with any economists or business experts suggesting the economy will continue to perform well, or would slow, but not contract.

As the Business & Media Institute has repeatedly found, the media have pessimistically covered the economys upswing for months, drawing negative omens while ignoring positive developments like 5.3 percent GDP growth in the first quarter and a strong job market.

In January, BMI released Hit Job, a report on the medias poor coverage of the 2 million jobs added to the economy in 2005.