In MSM the bloom just never comes off the berg. It 's a steady drumbeat of misinformation, distortion and phony good tidings. That's something people need to take a closer look at. Who but the media would continue to publish in many cases what is just bold-faced misinformation?
The recent new housing start numbers missed the hoped for mark and Bloomberg chose to color the numbers cheerful. We understand your chosen candidate is up to her pneumonia vaccine in a tight election race. We understand who you want to win. But one would think you had a modicum of journalistic decency and respect for the truth somewhere in your claim of being professional.
You have no pride, no shame. Decent journalists would print the truth, not spin it, no matter what it looked and smelled like. You're not worthy of any respect. It's a mystery how you look your children, if you have any, in the face every day and give council about their future.
New home starts dipped 5.4%, led by single family starts down 6.0%.
Total starts came in at 1.142 million (SAAR), well under the consensus estimate of 1.190 million, and beneath the entire Econoday Range of 1.170 million to 1.220 million.
Nonetheless the Econoday robot said the “details are not as weak as the headlines”. Let’s investigate the claim.
Bloomberg spin.
The details are not as weak as the headlines as the new home market remains one of the positives for the economy. Housing starts and permits did fall in August, down a sharp 5.4 percent for starts to a lower-than-expected 1.142 million annualized rate and down 0.4 percent for permits to 1.139 million which is also lower than expected. But permit growth for single-family homes, which is a key indication on housing demand, rose a very solid 3.7 percent to a 737,000 rate which is about where permits were trending earlier in the year.
mishtalk.com/2016/09/20/housing-starts-down-5-4-percent-bloomberg-says-not-as-weak-as-it-looks
This chart below is further evidence that Bloomberg is one of MSM's leading spinmeisters.
Jim Clifton, Chairman and CEO at Gallup
The Invisible American
I've been reading a lot about a "recovering" economy. It was even trumpeted on Page 1 of The New York Times and Financial Times last week.
I don't think it's true.
Ten percent of 250 million adults in the U.S. is 25 million people whose economic lives have crashed.
What the media is missing is that these 25 million people are invisible in the widely reported 4.9% official U.S. unemployment rate.
Let's say someone has a good middle-class job that pays $65,000 a year. That job goes away in a changing, disrupted world, and his new full-time job pays $14 per hour -- or about $28,000 per year. That devastated American remains counted as "full-time employed" because he still has full-time work -- although with drastically reduced pay and benefits. He has fallen out of the middle class and is invisible in current reporting.
More disastrous is the emotional toll on the person -- the sudden loss of household income can cause a crash of self-esteem and dignity, leading to an environment of desperation that we haven't seen since the Great Depression.
Millions of Americans, even if they themselves are gainfully employed in good jobs, are just one degree away from someone who is experiencing either unemployment, underemployment or falling wages. We know them all.
There are three serious metrics that need to be turned around or we'll lose the whole middle class.
The recent new housing start numbers missed the hoped for mark and Bloomberg chose to color the numbers cheerful. We understand your chosen candidate is up to her pneumonia vaccine in a tight election race. We understand who you want to win. But one would think you had a modicum of journalistic decency and respect for the truth somewhere in your claim of being professional.
You have no pride, no shame. Decent journalists would print the truth, not spin it, no matter what it looked and smelled like. You're not worthy of any respect. It's a mystery how you look your children, if you have any, in the face every day and give council about their future.
New home starts dipped 5.4%, led by single family starts down 6.0%.
Total starts came in at 1.142 million (SAAR), well under the consensus estimate of 1.190 million, and beneath the entire Econoday Range of 1.170 million to 1.220 million.
Nonetheless the Econoday robot said the “details are not as weak as the headlines”. Let’s investigate the claim.
Bloomberg spin.
The details are not as weak as the headlines as the new home market remains one of the positives for the economy. Housing starts and permits did fall in August, down a sharp 5.4 percent for starts to a lower-than-expected 1.142 million annualized rate and down 0.4 percent for permits to 1.139 million which is also lower than expected. But permit growth for single-family homes, which is a key indication on housing demand, rose a very solid 3.7 percent to a 737,000 rate which is about where permits were trending earlier in the year.
mishtalk.com/2016/09/20/housing-starts-down-5-4-percent-bloomberg-says-not-as-weak-as-it-looks
This chart below is further evidence that Bloomberg is one of MSM's leading spinmeisters.
Jim Clifton, Chairman and CEO at Gallup
The Invisible American
I've been reading a lot about a "recovering" economy. It was even trumpeted on Page 1 of The New York Times and Financial Times last week.
I don't think it's true.
The percentage of Americans who say they are in the middle or upper-middle class has fallen 10 percentage points, from a 61% average between 2000 and 2008 to 51% today.
What the media is missing is that these 25 million people are invisible in the widely reported 4.9% official U.S. unemployment rate.
Let's say someone has a good middle-class job that pays $65,000 a year. That job goes away in a changing, disrupted world, and his new full-time job pays $14 per hour -- or about $28,000 per year. That devastated American remains counted as "full-time employed" because he still has full-time work -- although with drastically reduced pay and benefits. He has fallen out of the middle class and is invisible in current reporting.
More disastrous is the emotional toll on the person -- the sudden loss of household income can cause a crash of self-esteem and dignity, leading to an environment of desperation that we haven't seen since the Great Depression.
Millions of Americans, even if they themselves are gainfully employed in good jobs, are just one degree away from someone who is experiencing either unemployment, underemployment or falling wages. We know them all.
There are three serious metrics that need to be turned around or we'll lose the whole middle class.
- According to the U.S. Bureau of Labor Statistics, the percentage of the total U.S. adult population that has a full-time job has been hovering around 48% since 2010 -- this is the lowest full-time employment level since 1983.
- The number of publicly listed companies trading on U.S. exchanges has been cut almost in half in the past 20 years -- from about 7,300 to 3,700. Because firms can't grow organically -- that is, build more business from new and existing customers -- they give up and pay high prices to acquire their competitors, thus drastically shrinking the number of U.S. public companies. This seriously contributes to the massive loss of U.S. middle-class jobs.
- New business startups are at historical lows. Americans have stopped starting businesses. And the businesses that do start are growing at historically slow rates.
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