We've Turned the Corner!
At least, that's what Justin thinks. Which, I guess, is the silver lining of this.
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1
Well, KT, I'll have to say that debating whether the rate of increase of the decrease in some economic indicators is certainly more sound than your flute playing over the Geithner / AIG "brouhaha".
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Kudos for that, and welcome to a planet where blame goes to the one who actually created these messes! -
2
53_3: see my most recent post.
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3
I just saw, KT, and it is even less sound than your attmepts to inflame the Geithner thing.
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Which brings me to the point:
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Just how much effort are you putting into this. I'm thinking little, and therefore, by your new standards, you will certainly have to return a paycheck or two... -
4
Meanwhile, on the merits of this particular post –
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Dibs on metaphor-stretching:
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We may have entered a long, gradual curve in the right direction. Anyone looking for a hairpin turn had better pack a lunch and bring a lawn chair, as it'll be a long wait. -
5
Why is a 0.1% revision to the GDP numbers such calamitous news? Must every news outlet run headlines saying "Economy worse than expected"?
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For god's sake, people, it was just a 0.1% change! To me that's not worse than expected, that's initial estimates pretty much right on the money.
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I nearly fell out of my chair this morning when I heard CNN prepping viewers with the "worse than expected" meme only to hear that "6.3% was worse than the previously thought 6.2%". Congratulations. You can do basic math.
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I suppose a revision up to 6.1% would have called for champagne and hallelujas? -
6
nathan:
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You answered your own comment when you noted CNN's characteristic hype. They're the folks who gave us the concept of perpetually "breaking" news. And Lou Dobbs. -
7
The shovel ready jobs haven't even started and the current rally looks like a false one to me, but I continue to hope the real turnaround happens by the end of the year. I agree with FlownOver on this one. A hairpin turnaround is extremely unlikely. I'm not fooled by the temporary upturn and I'm not going to panic when another stock market pullback occurs. It's going to be a pretty long wait. Headlines over upticks and downturns should be taken with a grain of salt.
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8
I think what the upturn in the downturn in the rate of the downturn of the econimic indicators is really just a confidence thing.
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There is nothing driving them lower, so, as sacred says, the jobs are still in the pipeline. When they hit the ground, it's not hard to be a little more optimistic about the future.
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KT will still, however, have to return a paycheck or two, because of her lack of effort*.
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*As determined by the two reporters in the hitpiece she draws on in her blog above. They, I'm sure, deeply researched whether he put enough effort into his 14 month stint!
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