Scanning the headlines on this page, USA Today, August 23, 2012, it is obvious that we are in serious economic decline. If you read the copy, however, that’s not the case. Why is it reported that way?
One snippet of the always fluid stock market shows a 30-point drop over a few hours. It was up to13,292 a few days later.
The 2000s were hard on the middle class in that 60 percent of those who left went up in income level, above $118,000. So apparently not just the rich get richer….
Placed under the middle class decline article, but above the fold, the impression is more doom, gloom, despair. But the article is about how the stock market has been within one point – one point – of matching the level it was before the “financial crisis” of 2008-09, and within 1,000 points of the all-time high. Which sounds like a full recovery to me, but not according to USA Today.
Yes, HP desktop sales are down, but only minimally, simply because we are less and less of a desktop world, as everyone knows. Apple picked up the slack, so wouldn’t that be a wash for the economy? As for the $8.9 billion reported loss, $8 billion of it was the result of HP buying another business, not slumping sales. Why would USA Today mislead us like that?
A non-story based on minutes from a meeting weeks earlier, back in July. The Fed isn’t going to step in, at least not before “late 2014,” so why scare us like this?