Newsweek "Explains" Media’s Desire to Make All Economic News Depress
On a regular basis, economic data released by the various government agencies responsible for doing such things is depicted negatively by America’s mainstream media. From unemployment to inflation to housing prices, regardless of the facts, the press typically report nothing but gloom and doom.Robert Samuelson in this week’s issue of Newsweek candidly informed readers why. After giving a synopsis…
On Jobless Claims Report, AP's Crutsinger Discounts the Present, and G
The Associated Press's Martin Crutsinger has been on the opposite of a roll:Just before Christmas, he appeared to be lowballing the consensus estimate of 4th Quarter 2005 GDP growth by describing it as "around 3 percent," when a broad-based Bloomberg survey of economists indicated a consensus forecast of 3.3%. Second, he pooh-poohed November's Construction Spending report released two days ago…
The Press Acted As One Collective Scrooge This Holiday Season
Media Mantra: Unhappy Holidays Pessimism about holiday sales went right through Christmas this year. Were consumers cheerful shoppers or Scrooges this Christmas season? The final sales data aren’t out yet, but the media have scared the dickens out of economy-watchers with the latter theory. As reported by the Free Market…
In Lieu Of Other New Posts
Check out the Free Market Project's report on The Media's Top Ten Economic Myths of 2005.
Is The AP's Martin Crutsinger Lowballing Economic Growth Expectations
On December 7, The Associated Press's Martin Crutsinger reported on a rise in factory orders and productivity growth, and quoted an expert who predicted good times ahead:
"The momentum of growth has been very strong," said Nariman Behravesh, chief economist at Global Insight in Lexington, Mass. "This suggests that growth in the fourth quarter of this year and early next year will remain robust…
