PrintAugust 28, 2008
'Rebound' Replaces 'Recession' In MSM Headlines
Well surprise, surprise. Get a load of this
"The Commerce Department reported Thursday that gross domestic product, or GDP, increased at a 3.3 percent annual rate in the April-June quarter. The revised reading was much better than the government's initial estimate of a 1.9 percent pace and exceeded economists' expectations for a 2.7 percent growth rate."
By contrast, here are some samples of how the previous estimate of 1.9% was reported.
"Recession worries linger as GDP rises a scant 1.9%." USA Today http://www.usatoday.com/money/economy/2008-07-31-gdp-jobless_N.htm
"Recent growth is boosted by stimulus checks, but still lags forecasts. Last quarter of '07 is revised down - first negative period since 2001 recession." CNN http://money.cnn.com/2008/07/31/news/economy/gdp/index.htm?postversion=2008073109
"U.S. GDP falls short of expectations, UPI Business News" http://www.upi.com/Business_News/2008/07/31/US_GDP_falls_short_of_expectations/UPI-93521217523916/"The nation's economy grew at a tepid 1.9% annual rate in the second quarter of the year... below Wall Street economist expectations." Fox Business News http://www.foxbusiness.com/story/markets/economy/gdp-grew--rate-second-quarter/
"Recession... negative... recession... falls short... tepid... below expectations." You get the picture. Even from Fox. Thank you, media, for writing the script to the Democrats' campaign speeches. It's just too bad the "rebound" became clear more than two months before the election. That must irritate.
You can find the Commerce Department's press release on the latest figures here . If you dig some, you'll find that real GDP growth from the second quarter of 2007 to the second quarter of 2008 (latest available) was 2.2%. That, my friends, is no recession.
Real GDP growth in the last five quarters were 4.8, 4.8, -0.2, 0.9, and 3.3 percent, respectively. Funny, I don't remember the headlines about the two 4.8's in a row. But that -0.2 was getting "recession" played throughout the headlines for about the last six months.
The surge working in Iraq. Economy on the rebound (from its non-recession). What's a Democrat to do?
Update: "Jobless claims fall for 3rd straight week"
FOLLOW US ON
Recent Articles
- What’s the Real Target of the Assault on Tesla?
- MAGA: Progress, Not Perfection
- Saving American Culture through ‘Counter-Spoliation’
- Anecdotes from the Time of Autism
- War Is Hell
- Deep State Anatomy and Physiology
- Sisterhood of the Traveling Pronouns
- Trump’s Tariffs: A Chance to Bring Back Lost Jobs
- Trump's Six-Point Plan for Making America Great Again
- Make IRS Sauce The Same For Both Citizen Goose and Politician Gander
Blog Posts
- The Democrats’ superiority complex
- On Wisconsin: The pundit class fumbles (again)
- Around the world, the smart way and the dumb way to respond to Trump's tariffs
- Burning Teslas
- Senator, you talk too much
- The Atlantic's phony migrant tear-jerker about a pitiful 'Maryland father' shipped back to El Salvador falls apart
- Rep. Luna, forgets she’s on the Republican Team!
- Veruca Salt politics or the inevitable result of ‘the personal is political’
- Taliban justice in the streets of Bordeaux, and a Sharia ‘mega city’ comes to Texas
- French judge releases an accused rapist because he’s ‘fairly integrated’
- The Luigi cult is still out there, gushing and festering
- In New York, a tax service company targets illegal aliens as potential customers for child tax credits
- When antisemitic leftists play the ‘Jewish card’
- FDA’s vaccine-rubberstamp Peter Marks forced to resign, and Big Pharma stocks take a nosedive
- Will Colorado pass what’s essentially a ‘trans blasphemy’ bill? *UPDATED*