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'Titanic' Bias? NYT Implies U.S. Economy Sinking Into Recession |
| Published: November 27, 2007, 2:32 pm |
| Tags: banking finance, economy, housing, unemployment, wages amp amp prices, peter goodman, new york times |
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As the 2008 election approaches, the New York Times uses the image of a sinking red "RECE$$ION" to communicate a fear that is so far only a phantom menace. Peter Goodman's Sunday Week in Review cover story, "Trying to Guess What Happens Next," displayed plenty of pessimism about the U.S. economy after years of foreign-financed easy money. But the accompanying graphic communicated even more starkly the feeling the Times no doubt wanted to convey -- a fearful, sinking feeling among U.S. consumers (and November voters). The top half of the page was dominated by white space, with the big red word "RECE$$ION" sinking below the horizon. Is there a single economist who thinks the U.S. economy, with inflation tamed for now and a low unemployment rate, is currently in recession? Not even Goodman himself goes that far, though his pessimism seems pretty overblown. "You need not be a Wall Street chieftain to feel the anxiety that has wrapped its arms around [ Full article ] |
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