Modest Gains

There seems to be a stigma going around that the result are to good to last. While listening to a couple of economist talk ( sorry for not being able to find the names) on "the squak box". They continued to refure to how well we thought we were doing in late 1997 before evey thing dropped out for the 2nd time. It may be my naivety to this type of thing, but it seems like if they think that even Grease is not going to default on their loans that we may have turned the cornner.

1 comment:

Dr. Tufte said...

-2 on Elijah for multiple spelling errors.

I'm not sure what exactly you're referring to.

I do think a big problem with how economics is presented in the legacy media is that they always search out "both sides" of an issue. But, they never ask if an issue should really have "two sides". What if it shouldn't?

They seem to understand this clearly with things like pollution: they never seek out the "we should pollute more" people to give their side of the story. But, with the economy, they've always got a naysayer, no matter how well things are going.