December 22, 2007

FUNNY SORT OF RECESSION:

Bush’s Very Good Year (Lawrence Kudlow, 12/23/07, Real Clear Politics)

Calendar year 2007 looks set to produce 3 percent growth in real GDP, nearly 3 percent growth in consumer spending, and over 3 percent growth in after-tax inflation-adjusted incomes. Meanwhile, headline inflation (including food and energy) will have run at 2.5 percent, with only 2 percent core inflation.

Jobs are rising over 100,000 per month 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.

Posted by Orrin Judd at December 22, 2007 5:07 PM
Comments

Before Friday's jump, the share price of the NYT had fallen to about $16.75.

The media will never think the economy is good as long as Bush is in office, but what will they be saying when the Times is down to $12.00?

Posted by: ratbert at December 22, 2007 6:38 PM

Just wait until Sam Zell starts cleaning out the Chicago Tribune. The employees will have everyone believing it's 1932 all over again.

Pretty soon, the same will happen to the papers in LA, Minneapolis, Philadelphia, Atlanta, Charlotte, Miami, and Boston. CNN and NBC will continue to face competitive pressure from FOX. And CBS is going to have to replace Katie soon, even if Dan keeps sniping at her.

The problem for the GOP is that the last really bad stretch was 79-82, and before that, 73-75. A lot of the population never experienced those times. The current strength of the economy is an unappreciated blessing, and the vile policies of a large portion of the Democratic party are lost on many voters (as Michael Barone noted at today's NRO). The misery index wouldn't even make the news today.

But the media will have everyone believe the country is in the same boat as them.

Posted by: jim hamlen at December 23, 2007 2:04 AM
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