Dane Cook Damn Well Is Funny | Main | Right Wing News' Best Blogs Poll
December 05, 2005

New York Times On The Economy: Doom, Disaster, & Depression

Looks like Pinch Sulzberger has ordered his reporters to start submitting a story-every-week about how bad the apparently "booming" economy (by their own admission, last week) really is.

We can expect one of these economic hatchet jobs every week from now until Novermber 2006. So get used to the form. Here, we'll just ignore all the postitive data and conduct an interview with a single sourpuss.

What's Ahead: Blue Skies, or More Forecasts of Them?

The nation's economic forecasters are all but unanimous in predicting that the coming year will not bring a recession. It isn't so clear, however, whether that forecast has any meaning.

Wall Street economists are notorious for insisting that all is fine even when a downturn is just around the corner. The few pessimists who regularly prophesize doom are only occasionally right.

Even the actual start of a recession does not always help. Alan Greenspan, the chairman of the Federal Reserve, spent much of early 2001 saying that a recession was avoidable. In fact, one had already begun.

Trying to predict recessions - an effort that drives much of forecasting - turns out to have little practical use. The more relevant question might be whether growth is likely to speed up or slow down in the coming year, and most of the signs, like still-high energy costs and a cooling housing market, are pointing to a slowdown.

Slowing economies matter because they often set the stage for recessions, and they usually drag down stock prices in any event. By the time a recession begins and job losses are mounting, stocks are frequently rising again....

4.3% GDP growth? Dow approacing new historic highs? Deficit falling by a $80 billion in one year due to rising tax receipts? Unemployment at 5.0% and falling?

It's a trap!!!

Admiral Akbar should be the Democratic nominee in 2008. After all, he's got the military experience the liberals need to help convince the public they're not total weenies on defense.

As a bonus, he's a minority. At least I think he's a minority. Who knows.

Coincidence? According to Drudge:

SOURCE: Bush set to go on offense Monday re the economy; hit Dems for seeking to raise taxes ... Developing...

And, goodness gracious, the NYT is right there playing defense for them. What were the odds.

digg this
posted by Ace at 12:19 AM

| Access Comments

Recent Comments
Blanco Basura - moronhorde.com. Not insurgents, counterrevolutionaries.: "[i]Did ace cover the Project Veritas Video of the ..."

Working for Peanuts: "[i]Probably right. Just caught me off guard when h ..."

Count de Monet, Intermittent Faster, Unvaccinated Kulak-American: "Hey Keith O'fuckwad: Yes I'm afraid of the death ..."

garrett: "Did ace cover the Project Veritas Video of the fat ..."

thathalfrican - The One : "Posted by: Romeo13 at October 15, 2021 05:20 PM (o ..."

Y5: "Gref, no I usually only have 3 or 4 open. Right no ..."

whig: "Last but not least Jewells, switch browsers to Bra ..."

wth: "Time to start drinking. ..."

wth: "Beth Farts, a bar-left member ..."

garrett: "Having read your posts for years now, halfrican... ..."

Cameron Mitchell: "Every day is a Tums festival ..."

Some Rat: "Posted by: S'oothsay Saw that! Freaking hilar ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64