Friday, October 28, 2011

So That You Don't Have To

CBS Evening News was honking horns about the economy last night, with the Dow up 300+ points and the announcement of 3rd Qtr GDP growth at a 2.5% annual rate, saying that it appears we are finally on our way to prosperity. Growth of 2.5% actually sucks, of course, and the Dow was reacting to a European plan that is barely more than throwing your morning coffee on a house fire, but CBS is not going to let that worry them.

Today we have headlines like “Stocks Slip as Traders Weigh Euro Uncertainty, Data” and “Euro Pauses After Surge” along with Reuters saying that, “Sluggish income growth led US households to cut back on saving in September to increase their spending, casting doubt on the durability of the economy's growth spurt in the third quarter.”

I’m not sure why I watch CBS Evening News, actually.

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