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May 25, 2006

MSM Headline: "U.S. Economy: Growth May Slow From 5.3% Annual Rate"

Really? Seriously? No shittin'?

The economy just posted a red-hot growth rate of 5.3% and you're saying it may slow in the future?

Always the downside. As I've noted too many times to recount, the media is only willing to acknowlege the current strength of the economy in a cautionary tale about its future weakening. We will proceed from "the worst economy since Herbert Hoover" to a "severe recession caused by the unsustainable growth during the Bush Bubble" without ever having an acknowledgement of the strength of the economy in the present tense.

It's the only story the media knows how to write. Sort of like Dan Brown. And like Dan Brown, the luridness and absurdity of the tale is palpable.

The actual story isn't particularly objectionable. But the MSM knows headlines have impact. And they're damn-sure not going to let the public be tricked by a positive headline about the economy.

Stocks rose on signs the economy is expanding fast enough to boost company profits without igniting inflation. The rise in gross domestic product was the biggest since the third quarter of 2003 and compares with a 4.8 percent rate that was reported on April 28, the Commerce Department said. Sales of previously owned homes dropped to a three-month low, the National Association of Realtors also reported.

Last quarter's economic vigor may give way to a more moderate pace of growth for the remainder of 2006. Slower consumer spending and a weakening housing market will allow Federal Reserve policy makers to stop raising interest rates if additional data point to a smaller risk of accelerating inflation, economists said.

``Consumption and investment were a little softer than we were looking for,'' said John Shin, an economist at Lehman Brothers Holdings Inc. in New York. ``Reports since have certainly showed growth has decelerated, and that's consistent with the Fed's statement that growth will decline to a more sustainable rate.''

Holy Sacred Feminine, to call them scumbags would, as Dennis Miller said, be a disservice to bags filled with scum.

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posted by Ace at 02:55 PM

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