Our friends at CCK often chide us for not holding Bush responsible for this and that. By way of making amends, let me hold Bush responsible for this, from Yahoo News:
The U.S. job market rebounded last month from a hurricane-induced slowdown as nonfarm employers added 215,000 workers, according to a government report on Friday that showed the economy on solid ground. The closely watched Labor Department report also said the unemployment rate held steady in November at 5 percent, just off the four-year low of 4.9 percent hit in August.
"This fits with an economy which is just humming along here at close to potential," said Kathleen Stephansen, director of global economics at Credit Suisse First Boston in New York. The report, which showed job growth widespread across industries, nearly matched expectations on Wall Street.
But of course no economic news is good news at the New York Times, or at least not during any Republican administration.
Upbeat Signs Hold Cautions for the Future
Beat that for a sour grapes headline! Now digest the first paragraph:
Gasoline is cheaper than it was before Hurricane Katrina slammed into New Orleans. Consumer confidence jumped last month and new- home sales hit a record. The stock market has been rising. Even the nation's beleaguered factories seem headed for a happy holiday season. By most measures, the economy appears to be doing fine. No, scratch that, it appears to be booming. But as always with the United States economy, it is not quite that simple.
Now check out the next paragraph:
For every encouraging sign, there is an explanation. Consumer confidence is bouncing back from what were arguably some of its worst readings in years. Gasoline prices - the national average is now $2.15, according to the Energy Information Administration - have fallen because higher prices held down demand and Gulf Coast supplies have been slowly restored.
The Kausfiles comment on this his hilarious:
It's indeed deeply disturbing to learn that higher gas prices have held down demand, causing those prices to fall back to a level at which demand begins to rise again! It's almost as if some insidious law was at work--as prices rise, demand declines! As supply increases, prices fall! You can't win! ... P.S.: The price drop might be alarming if the decline in demand for gas reflected a general economic downturn. But that doesn't seem to be the case. What the NYT's Vikak Bajaj ominously describes is the market working exactly as it's supposed to, coupled with successful rebuilding efforts on the Gulf Coast. It appears to be "quite that simple." ... P.P.S.: Nor can I spot any "cautions for the future." ....
The NYT is, as always, a fundamentally dishonest enterprize. It wants G.W.Bush to stay on the ropes, so the best possible news has to be soured.
Recent Comments