06 February 2024

Economic Reporting As if It Were a Romance Novel

In romance novels:
"It's a beautiful, sunny day Heathcliff. My heart is full. Please kiss me!"
Heathcliff, mournfully, "Someday we are all going to die." 

 Meanwhile, in economic reporting:

"Unemployment is at its lowest in 60 years! The stock market is at record highs! Inflation has dropped to 2%. New business formation is 50% higher than it has ever been!"
"Yes but the economy will eventually fall into a recession. It might not be for a decade. It might start next month. But it will eventually falter. And that bad news - however speculative and far into the future - is the real news."



 

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