Wednesday, November 30, 2022


I sometimes watch NBC Evening News, typically until I am faced with a piece containing such virulent dishonesty that I vow never to watch it again. That usually doesn't not take long.

Last night they ran a piece on “Cyber Monday” holiday shopping, celebrating 5.8% increase in sales over last year and telling us that it constituted the “largest holiday shopping day in history” and that it was caused by “a mix of inflation and demand.”

It’s difficult to find what current inflation is, as the media is busy grinding axes and each outlet reports different segments depending on which point they are trying to make. Inflation is easing because gasoline prices are dropping, for instance, or it’s increasing because the price of spiral-cut ham went up.

The numbers that I can find for overall consumer goods ranges from 6.6% to 7.2% year-to-year, but no report claims as low as 5.8%. So a 5.8% increase in spending is not a “mix” of anything. It is caused entirely by inflation and represents a reduction of the actual amount of goods purchased, which makes the entire news story a lie.

No comments:

Post a Comment