I must admit that I am having a difficult time feeling a turnaround in
this economy. None of the news about the economy would be considered
good news in a normal recovery.
News that normally worries commentators on the economy is viewed through rose-colored lenses as good news. When unemployment does not improve from 8.2 percent, certain commentators consider it good news. When the economy is growing at less than 2 percent, these same pundits consider that good news. When the federal budget deficit narrows to $1 trillion, liberal commentators also consider this good news.
Instead of trying to create news filled with rosy half-truths just to feed the Federal Reserve’s ego, journalists need to report the facts as they are without sugarcoating them so the Federal Reserve will be compelled to change its ways.