The national media is doing its best to talk us into a recession, and the hometown Herald-Sun seems to be doing it’s part with this headline today: Sputtering economy tones down New Year’s. The Herald-Sun‘s proof? Poor ticket sales at a new-age eatery that seemed overpriced anyway at $35 a pop. Why do we need a Federal Reserve Board when we have reporter Monica Chen?
If you want to get past the lib narrative and talk about facts, go here:
Calendar year 2007 looks set to produce 3 percent growth in real gross domestic product, nearly 3 percent growth in consumer spending, and more than 3 percent growth in after-tax inflation-adjusted incomes.
Meanwhile, headline inflation (including food and energy) will have run at 2½ percent, with only 2 percent core inflation.
Jobs are rising more than 100,000 monthly and the stock market is set to turn in a respectable year despite enormous headwinds. Low tax rates, modest inflation, and declining interest rates continue to boost Goldilocks, which is still the greatest story never told.
I’m not trying to single out The Herald-Sun. The News & Observer and every other paper that regurgitates wire copy templates has done the same thing.
