The Associated Press's choice of a headline to accompany business writer Stan Choe's Saturday morning report on the state of the economy — "MAIN STREET HOLDS UP AS WALL STREET STRUGGLES, FOR A CHANGE" — has a couple of interesting implications.
Is AP celebrating the fact that Wall Street is struggling? Or does the idea that "Main Street" is holding up "for a change" mean that it hasn't been doing so for the past seven years? (Or both?) In any event, the AP's Choe used recently published data cooked with heavy doses of seasonal adjustments to support his "Main Street is okay" contentions, but without using the "seasonally adjusted" descriptor, thereby misleading readers and subscribing media outlets into believing that the situation out in the real world is far better than it really is.