Economy Improves, Old Media Ignores by Tom Blumer

Those who are rooting for the economy to go into a tailspin cannot be pleased.

First, the government told us that the economy grew 0.6% in the first quarter.

I wasn’t happy, because I’d like to see the economy get back to at least the 3.2% average growth it experienced from the second quarter of 2003 through the third quarter of 2007. But many in the business press seemed displeased for the opposite reason — that the number wasn’t negative. Since the everyday working definition of a “recession” is “a decline in GDP for two or more consecutive quarters,” it meant that there is no solid evidence of a recession.

Full Article ...

Sphere: Related Content