Three F’n Percent Follow Up

This morning I get into my office and I see that the number one headline on CNN behind, the picking of the head of the new economic recovery panel is "Durable Goods Orders Drop Sharply". Third place is "Consumer spending Drops 1%". This is crazy, the world must be ending. This must be the worst we've seen since the great depression, or maybe even the worse we've seen since the repealing of the Bank of The United States by Andrew Jackson. But here's the key to staying positive in this economy, Read the Articles. But wait, it's actually a two step process. Step one, read the article, step two, think about what it says.

Article one, "Durable Goods Orders Drop Sharply", the headline when you click on the scary link says, Biggest durable order drop in 2 years. My god, two years, I remember how badly off we were when we found out that durable goods orders were so low 2 years ago. I remember those harsh winters of 2006 after the October 2006 durable goods report. Come on media, stop with your scare tactics and report the news.

The second article "Consumer spending Drops 1%", has two key things it reported on. One, consumer spending dropped 1% in October, partially due to people saving up for their holiday spending. The second thing they reported, in the penultimate paragraph was "Personal income, however, rose 0.3% in October, following a 0.2% rise in the previous month. Economist had expected a 0.1% rise." (CNN) And finally the last paragraph talks about how prices are starting to come back down slightly.

My conclusion is simply read the media articles for the facts and come up with your own conclusions. The Weather Channel makes money during Hurricanes and Blizzards; CNN makes money during bad Economies, War and Elections. Sadly Americans have all but forgotten the wars in Iraq and especially Afghanistan, so CNN all but stopped covering them. The election is over, and they want to make us worry. So they need more than anything for this economy to keep sucking.