The Dangerfield Economy

Wall Street Journal ^ | Apr 5, 2004 | editorial

[The Raven]

Friday's report of roaring job numbers for March, along with the sharp upward revisions for the previous two months, was good news that even the chattering classes couldn't deny. Then again, give them a day or two and they'll have us back in Hooverville. Like Rodney Dangerfield, this is the recovery that can't get no respect.

[The Raven]

That leaves the inescapable conclusion that the problem is perception. This pessimism is understandably fed by Democrats who want to retake the White House.

Same thing for the war on terrorism.....next is gas and health care.

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[MNJohnnie]

Excellent article. That is one of the funny things about this Economcy. When you actually talk to people THEY are doing fine but because of all the propaganda they worry for the future! This is going to be the real battle ground of the 2004 election. How do we fight this when the DNC directed "news" media is doing everything it can to spread doom and gloom?

[NoControllingLegalAuthority]

When you actually talk to people THEY are doing fine

I don't know who you are talking to but they aren't the same working people I talk to. The downward pressure on family income is very real. Combining outsourcing with massive illegal immigration and we are experiencing a lowering of the American standard of living.

[blanknoone]

I think the article is right, but did not hit the nail on the head. WSJ, finish the job...the media is biased and partisan. They are 'talking down the economy' just like they lamented Bush was doing when he was pointing out the actual recession.

[1rudeboy]

We are?

[OESY]

This year's favorite bad news story has been the job market, especially outsourcing. Yet few bother to report that government data show that the U.S. is actually a net recipient of outsourcing jobs, and this surplus is widening. The growing trade in services helps the economy because American companies are market leaders in many high value-added niches.

The media Dems are trying to drive down consumer sentiment which will depress the stock markets and retard economic growth, thus helping Kerry. But, the markets which had been dropping since the Democratic primaries as investors anticipated the worst have ended their nine week correction and have begun to rebound coincident with the rebound in Bush's poll numbers. The best economy in 20 years won't be stopped, and jobs -- the lagging indicator -- should surge as they have in every other economic cycle.

Meanwhile, what can we expect from Dems? I just received a check for $1.16 in settlement of the case against FAO Schwartz. Trial lawyers made millions as the toy retailer was forced into bankruptcy and hundreds of jobs were lost -- a replay of thousands of tort cases across America. Some jobs program. Only Democrats benefited, which is why it is important and urgent that we have tort reform.