“Jobless Rate Falls to 9.7%, Giving Hope Worst Is Over” by Peter S. Goodman (TIMES, 2/6/10)

          How nice to read that the economy is “recovering after the longest recession since the Great Depression.” Does this mean the USA is not suffering a “Great Recession” or could it mean the economy is in a Mild Depression? With all the contradictions in this article, it is difficult to know.

          Such uncertainty is amplified by the revelation that the “Labor Department revised previous data”; i.e., “the economy lost 150,000 jobs in December, far more than the 85,000 initially reported.” Presumably, though, the report for January is accurate. (Hmm)

          Christina D. Romer, head of the president’s council of economic advisers, “acknowledged that she and her colleagues failed to grasp the magnitude of the employment crisis last year” but now everything is clear. (Hmm) And, there’s more.

          “Disappointingly slow growth” would seem to indicate that things “are getting bad less rapidly.” The economy hit bottom, “but there is no evidence of a robust turnaround.” (Hmm)

          Surely, Peter S. Goodman didn’t write the headline for this story?


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