Skip to comments.The Associated Press Economy . . . and the Real One
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 its 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 ...
Interesting take on Ms. Aversa.
This article can apply to the greater majority of so called economic writers today.
But what do I know. I became an accountant because I didn't have the personality to be an economist.
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.
This is the same old story, good things are happening and all we hear are reports of doom'n'gloom.
...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.
I wonder if she’s related to Willie?
"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.
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.
If economic experts were any good at forecasting, they’d be rich and not required to talk to foolish, clueless reporters!
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.