Wednesday, February 9, 2011
Associated Press is probably the biggest news gathering agency in the world. Thousands of newspapers who are too cheap to hire their own reporters, use AP to provide news copy to fill up the space on the paper not covered up by advertisements. And because AP is so large, they tend to constantly contradict themselves in their articles, particularly when it comes to the economy.
For the most part, AP writers use any 'positive' statistical morsel they can find to declare 'happy days are here again', but on occasion, one of their writers chooses not to drink kool-aid and doesn't follow the script.
AP news item #1 --
Business Travel Bounces Back as Economy Improves - "U.S. companies are forecast to spend 5 percent more on travel in 2011 than they did last year -- a sign of confidence in the economy"
AP news item #2 --
AP Analysis: Foreclosures Raise US Economic Stress - "The nation's economic stress inched up in December because higher foreclosures outweighed lower unemployment, according to The Associated Press' monthly analysis... Foreclosure rates rose in 33 states (66% of all US States), most sharply in Utah, New Jersey, Nevada and Arizona... Two straight months of higher stress to end 2010 marked a setback after the nation's economic pain had eased since the start of last year."
AP news item #3 --
Job Openings Fall for Second Straight Month - "Employers posted fewer jobs in December, the latest evidence that businesses are not ready to step up hiring. The Labor Department said Tuesday that employers advertised nearly 3.1 million jobs in December, a drop of almost 140,000 from November and the second straight monthly decline. That's the lowest total since September."
You can't have it both ways. You can't have a economy improving and worsening at the same time; a thriving Wall St. & business community and a decimated bottom 98% that is unable to find work and being foreclosed upon in great numbers
Unless there are Two Americas.
One propped up with Trillions of $$; the other ignored
Posted by Susquehanna at Wednesday, February 09, 2011