Wednesday, November 30, 2005

The NYTimes, no doom and gloom? Then create some!

Sales of New Homes Stay Strong in October, Setting Record
By VIKAS BAJAJ
Gasoline is cheaper than it was before Hurricane Katrina slammed into New Orleans. Consumer confidence jumped last month and new home sales hit a record. The stock market has been rising. Even the nation's beleaguered factories appear to be headed for a happy holiday season.
By most measures, the economy appears to be doing just fine. No, scratch that, it appears to be booming.
But as always with the United States economy, it is not quite that simple.
Consumer confidence is bouncing back from what was arguably some of its worst readings in years. Gasoline prices-the national average is now $2.15, according to the Energy Information Administration- have fallen because higher prices tamped down demand and supplies in the Gulf Coast have been slowly restored. The latest read on home sales, released today, contradicts virtually every other recent measure of housing activity that generally indicate a slowdown. And yes, manufacturers' fortunes are on the mend, but few besides airplane makers are celebrating.
It all means that the economy is likely to end the year with a splash, but that does not mean the broad economic picture next year will be even better.
Many analysts...believe a housing slowdown is already under way. Along with rising interest rates and anemic job growth, any such drop-off could sap the economy next year - by just how much is still subject to debate.

OK, so lets look at this, a housing slowdown...hmm, well over 7 million units were sold in the recent market and real estate specialists used to be excited about 6 million, so lets say a slowdown occures and only 6.2 million are sold, that is still a historic high. Anemic Job Growth? Hey, it's still GROWTH!, unlike Job losses in a recession or after 911. Thanks NYTimes, I'll just take my news straight next time, save the ridiculous insertions

1 Comments:

At 11:01 PM, Blogger trigorilla said...

Ace (of Ace of Spades fame) picked up on the Gray Lady's Gloom, too. He listed the Top Ten Upcoming NYT Headlines on the Economy

My personal favorite.
2. The Dark Side of Prosperity: Study Links Rising Disposable Income With Casual Drug Use, Purchase of "Upscale" Pornographic DVDs

 

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