The news media does its best to blather us into recession.
This was written a day after headlines blared alarms about the latest preliminary GDP data showing the U.S. economy grew a miniscule 0.6% in last year’s fourth quarter. Not exactly great news, but hey, it’s not a decline. One could even be encouraged by the fact that we achieved a bit of growth despite incessant reporting about the housing slump, credit crunch, drooping dollar and the travails of Britney Spears. That last item has nothing to do with economics, but it relates as another depressing story beaten to death by the news media.