Gloom And Doom

Larry Kudlow wonders why the MSM is so quick to pounce on a 3.1% GDP growth number as bad, and not look at the Western Europeans they wish to emulate and their 1% growth.

What is it about the mainstream media and the American economy? Why are they always looking for slowdowns, soft patches, double dips or whatever? If anybody bothered to look under the headline 3.1 percent GDP report yesterday, they’d see that 1.5 percentage points were lopped off because of the $660 billion increase in real net imports. But that’s a sign of strength. Consumer and business activity is strong, that’s why they’re buying foreign goods.

Core growh is 5%, profits are good, interest rates are low. Times aren't too bad unless you are a Democrat politician...

Economics and Markets Posted by jk at April 29, 2005 6:46 PM