We’ve Turned the Corner!

Well, KT, I’ll have to say that debating whether the rate of increase of the decrease in some economic indicators is certainly more sound than your flute playing over the Geithner / AIG “brouhaha”.
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Kudos for that, and welcome to a planet where blame goes to the one who actually created these messes!

53_3: see my most recent post.

I just saw, KT, and it is even less sound than your attmepts to inflame the Geithner thing.
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Which brings me to the point:
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Just how much effort are you putting into this. I’m thinking little, and therefore, by your new standards, you will certainly have to return a paycheck or two…

Meanwhile, on the merits of this particular post –
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Dibs on metaphor-stretching:
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We may have entered a long, gradual curve in the right direction. Anyone looking for a hairpin turn had better pack a lunch and bring a lawn chair, as it’ll be a long wait.

Why is a 0.1% revision to the GDP numbers such calamitous news? Must every news outlet run headlines saying “Economy worse than expected”?
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For god’s sake, people, it was just a 0.1% change! To me that’s not worse than expected, that’s initial estimates pretty much right on the money.
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I nearly fell out of my chair this morning when I heard CNN prepping viewers with the “worse than expected” meme only to hear that “6.3% was worse than the previously thought 6.2%”. Congratulations. You can do basic math.
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I suppose a revision up to 6.1% would have called for champagne and hallelujas?

nathan:
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You answered your own comment when you noted CNN’s characteristic hype. They’re the folks who gave us the concept of perpetually “breaking” news. And Lou Dobbs.

The shovel ready jobs haven’t even started and the current rally looks like a false one to me, but I continue to hope the real turnaround happens by the end of the year. I agree with FlownOver on this one. A hairpin turnaround is extremely unlikely. I’m not fooled by the temporary upturn and I’m not going to panic when another stock market pullback occurs. It’s going to be a pretty long wait. Headlines over upticks and downturns should be taken with a grain of salt.

I think what the upturn in the downturn in the rate of the downturn of the econimic indicators is really just a confidence thing.
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There is nothing driving them lower, so, as sacred says, the jobs are still in the pipeline. When they hit the ground, it’s not hard to be a little more optimistic about the future.
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KT will still, however, have to return a paycheck or two, because of her lack of effort*.
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*As determined by the two reporters in the hitpiece she draws on in her blog above. They, I’m sure, deeply researched whether he put enough effort into his 14 month stint!