Sunday, May 4, 2008

Good economic news: honest!

Economy shows resilience; jobless rate falls as dollar rises
By JEANNINE AVERSA, AP Economics Writer
Sat May 3,
WASHINGTON - The economy showed off unexpected signs of resilience Friday as job losses slowed, the dollar gained a bit of muscle for a change and there were even indications that food prices may be easing. The unemployment rate dipped, though that may not last.

"... though that may not last." Hey: let's try for optimism!

Who knows - maybe the latest numbers are the beginning a trend. I note that Q1 GDP grew - not by much (0.6%), but all the commentary suggested 0 to negative growth in Q1.

Could it be the gloom-and-doomers (me among them) have been wrong?

No - one point does not a trend make. BUT: the news and forecasts have been so unequivocally dour for the past few months, just about any positive numbers are welcome!

Me? I continue to bet on deepening economic problems... but I'm willing to be convinced by data.


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