(Hoenisch 2006). It clearly states that facts and information are different from values that exist in a judgment. We understand that a fact or evidence leading to a judgment is different from a value judgment. However, the question here is do facts and evidences on a situation enable us to make value based judgments?
While we explore factual and perceptual information of the US recession, let us go over each piece of news from the leading dailies, over the last one year and carefully analyze and arrive at a consensus through Weber’s dichotomy understanding of facts and values. It is essential to arrive at a clear cut estimation of facts and the information stated in these dailies to understand their different views and the origination of the credit crunch.
Body: Let us start off with the latest on the US recession. The Guardian reports “The US unemployment rate has hit a 26-year high after employers shed 663,000 jobs in March to cope with plunging demand for goods and deteriorating economic conditions.
The March figures were in line with economists forecasts and they had little immediate impact on the financial markets. The Dow Jones Industrial Average was likely to open marginally higher at the opening bell on Wall Street.There was a degree of relief that the numbers were not worse. Peter Kenny, the managing director of Knight Equity Markets in New Jersey, said: "It gives the market a sense that we dodged a bullet in the very, very near term. Its positive in that it wasnt a blowout number of more than 750,000."Nevertheless, jobs were lost in every sector of the economy except for healthcare and education. The White House had been expecting bad news. Speaking ahead of the figures, President Barack Obamas spokesman, Robert Gibbs, said: "I think its safe to expect - without having seen them - that well see additional severe job cuts in America.” Despite the rising level of