November 30, 2005

LIKE PASSING A KIDNEY STONE:

Upbeat Signs Hold Cautions for the Future (VIKAS BAJAJ, 11/30/05, NY Times)

By most measures, the economy appears to be doing fine. No, scratch that, it appears to be booming.

But...


Is that a pseudonym for "Paul Krugman"?

Posted by Orrin Judd at November 30, 2005 8:55 AM
Comments

Ahh...the 'but' monkeys, the last weapon in the arsenal of the NYT. Perhaps now (and with 3rd Q GDP growth to be revised upwards to 4.1%) the media will start poking at itself, as the facts about the economy are indisputable.

Posted by: ratbert at November 30, 2005 9:46 AM

Bush polls in the low 40s with people thinking the economy is doing lousy. Once people catch on that the economy is doing pretty well let's see where his poll numbers go.

Posted by: AWW at November 30, 2005 9:52 AM

Do you really think that the MSN & the moonbats are going to permit that to happen?

Posted by: Dave W. at November 30, 2005 9:54 AM

make that "MSM"

Posted by: Dave W. at November 30, 2005 9:55 AM

Under which circumstances will the public "catch on" that the economy is doing well? Unemployment is around 5%, and other economic indicators say people are doing well, but still the public at large thinks the economy is lousy? I keep wondering what it will take for people to realize the economy is in good shape.

Posted by: sharon at November 30, 2005 10:32 AM

Much as OJ may not like it, lower gasoline prices are part of the key to the turnaround. The recent poll numbers showing consumer confidence going through the roof in November gibes with a one-third drop in fuel costs during the same period, since gas is often a 2-3 times a week purchase, unlike other energy-related items. People just notice it more than they do other increased expences.

If the regular gasoline price drops back to the $1.50 range and the winter weather in the northern states isn't too severe as far as energy costs go, Bush will be back around 50 percent as far as approval ratings go by the spring (though I'm sure the Times will find something to carp about even under those circumstances).

Posted by: John at November 30, 2005 10:53 AM

john:

They didn't go down in the third quarter--they skyrocketed.

Posted by: oj at November 30, 2005 11:20 AM

OJ, I wasn't talking about the 3Q GDP numbers, I was talking about the public perception numbers which were released on Tuesday.

The sharp rise during the quarter of the nation's GDP didn't penetrate the public's mindset, but drop the gas prices by a third during November -- even if they're still above their mid-summer levels -- and even the media's attempts to throw cold water on the economic situation don't gain traction, simply because folks are paying $10-$20 less each time they fill up.

Posted by: John at November 30, 2005 11:52 AM

Their perception is likely tied rather closely to the actual improvement in the economy too, no?

Posted by: oj at November 30, 2005 12:04 PM

The perception is definately improving. I hear frequent comments from friends and aquaintances about the improved economy. If they are catching on here in Seattle, they have to be waking up elswhere.

Posted by: Patrick H at November 30, 2005 12:24 PM

I can't believe you, Mr. Judd ... making fun of a foreign name. If you right wingers could just open your narrow racist minds and drop the hegemonic, boneheaded colonial machismo, you'd know that "VIKAS BAJAJ" is how they say "Jabba the Hut" in the Bhotia language in the dubbed Region 19 DVD version of Star Wars. But you don't know that because you always want to watch Star Wars in the language of the oppressor, never in the language of the oppressed. After the Revolution, "Vikas Bajaj" will spill from the lips of every white, overprivileged child in America and you'll be searching high and low for Hollywood movies that you can watch in Englsh! So take that! And may the Jrupk be with you -- NOT!

Posted by: Spjlook Shobjut at November 30, 2005 12:30 PM

sharon, perhaps fewer headlines like this: Oil Prices Plummet

Posted by: erp at November 30, 2005 12:47 PM

Spjlook:

Swedish - Sri Lankan, perhaps?

Actually, Vikas Bajaj is Frank Rich's new pseudonym.

Posted by: jim hamlen at November 30, 2005 2:45 PM

Actually, that story is way too positive for Paul Krugman. My guess is that Paul will ignore the subject and concentrate on attacking Bush on other grounds. If he does mention economic subjects, it will be to nitpick.

And about one thing we can be certain: Krugman will never, ever admit he was wrong.

Posted by: Jim Miller at December 1, 2005 11:14 AM
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