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The Associated Press Economy . . . and the Real One
North Star Writers Group ^ | May 5, 2008 | Dan Calabrese

Posted on 05/05/2008 4:58:06 AM PDT by Invisigoth

I hate to pick on a fellow journalist, but if I were Jeannine Aversa of the Associated Press, I would be embarrassed. Ms. Aversa covers economic issues for the AP, and I guess it’s hard to come up with actual economic facts every day, so she likes to publish predictions.

This tends to precipitate the following chain of events:

Ms. Aversa reports that economists expect the economy to tank, jobs to disappear, etc. The economy does not tank, and jobs do not disappear (at least not as much as “economists expected”); Ms. Aversa reports economists’ surprise. Ms. Aversa reports that economists now expect the disasters they thought would happen this quarter to happen next quarter. Rinse. Repeat.

This past Thursday, I wrote about how Ms. Aversa had to report the shocking news that the economy actually grew in the first quarter of 2008, and that contrary to what she had been saying in her stories for weeks, the U.S. is not in a recession.

(Excerpt) Read more at northstarwriters.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: associatedpress; economy; reporting

1 posted on 05/05/2008 4:58:06 AM PDT by Invisigoth
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To: Toddsterpatriot; Mase; expat_panama

Interesting take on Ms. Aversa.


2 posted on 05/05/2008 5:20:55 AM PDT by 1rudeboy
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To: 1rudeboy

This article can apply to the greater majority of so called economic writers today.


3 posted on 05/05/2008 5:24:41 AM PDT by lexusppd (I agree and if he is careful with his VP choice he will negate the age argument and enhance both)
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To: Invisigoth
It's amazing to me that economic results are benchmarked against expectations by unnamed economists.

But what do I know. I became an accountant because I didn't have the personality to be an economist.

4 posted on 05/05/2008 5:35:53 AM PDT by Loyal Buckeye
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To: Invisigoth

Why she is just trying to look out for all of the gun-toting, bible thumping racists in flyover country. It’s all for our own good.


5 posted on 05/05/2008 5:57:14 AM PDT by Oldpuppymax (AGENDA OF THE LEFT EXPOSED)
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To: 1rudeboy; Rummenigge; Moonman62; dollarbull; am452; The Pack Knight

This is the same old story, good things are happening and all we hear are reports of doom'n'gloom. 

  1. Ms. Aversa reports that economists expect the economy to tank, jobs to disappear, etc.
  2. The economy does not tank, and jobs do not disappear (at least not as much as “economists expected”); Ms. Aversa reports economists’ surprise.
  3. Ms. Aversa reports that economists now expect the disasters they thought would happen this quarter to happen next quarter....

...and Ms. Aversa manages to work this into a story about the unemployment rate going down:  Businesses are handing out pink slips as they cope with an economy that is teetering on the edge of a recession, or possibly in one already.

But hey, we can't knock Aversa (or her sister Patty Hill at the Wash. Times).  They see a market and they meet it.  Let's face it, doom'n'gloom sells.

6 posted on 05/05/2008 6:40:36 AM PDT by expat_panama
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To: 1rudeboy

I wonder if she’s related to Willie?


7 posted on 05/05/2008 6:44:03 AM PDT by Toddsterpatriot (Why are doom and gloomers, union members and liberals so bad at math?)
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To: Invisigoth
"It is not the critic who counts . . . the credit belongs to the man who is actually in the arena -  Theodore Roosevelt
Journalism exists to promote itself at the expense of "the man who is actually in the arena." And, in the process, to promote all the other critics who do the same.

That is why there is a distinction, but no difference, between an "objective journalist" and a "liberal" (or "progressive") politician. Between George Stephanopolis the journalist and George Stephanopolis the Clinton Administration operative. Either one wants to knock the white man and the middle class and the policeman and the soldier and the businessman (overlapping categories). And that is why the middle class needs a political party whose mission is to defend it from the depredations of the overlapping categories of "objective journalists" and "progressive politicians" and poor people and rich people who use politics as conspicuous consumption.


8 posted on 05/05/2008 7:23:44 AM PDT by conservatism_IS_compassion (Thomas Sowell for President)
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To: Invisigoth

The media has been predicting a recession since at least 2004. I’ve found numerous articles searching the net dating at least that far back. I’d trust Miss Cleo before I listened to twits like Ms. A.


9 posted on 05/05/2008 7:42:59 AM PDT by enough_idiocy (Holding my nose in 2008. I disagree with McCain on lots of issue, but with the Democrats on more.)
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To: Invisigoth

If economic experts were any good at forecasting, they’d be rich and not required to talk to foolish, clueless reporters!


10 posted on 05/05/2008 8:57:50 AM PDT by WarEagle (Can America survive a President named Hussein?)
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To: expat_panama
The "profession" of journalism has completely discarded what few standards of responsibility it once had. Ms. Aversa is hardly the only journalist who disguises her own editorializing as the consensus opinion of "experts." That way, her own silly opinions can instead be delivered ex cathedra as The Truth, and she gets to keep her credentials as a "reporter", when she is in fact nothing of the sort.
11 posted on 05/05/2008 10:24:27 AM PDT by The Pack Knight (Duty, Honor, Country.)
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To: Invisigoth

Most of the “experts” cited in these AP predictions are obviously of the liberal bent. Ever since Bush was elected these geniuses have been surprised monthly by good economic news. Now when there was a downturn in the economy it wasn’t just a downturn, oh no, WE ARE HEADED FOR ANOTHER GREAT DEPRESSION!!! they fairly shouted with illdisguised glee in their words and voices. Apparently most of these mental midgets are surprised that capitalism works better than Marxism...to their great chagrin.


12 posted on 05/05/2008 11:57:34 AM PDT by driftless2
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