Media Make Economic Storms Out of Silver Linings

The American news media declared the U.S. economy in “free fall” as it slowed in March of 2008. But much economic data hasn’t supported that negative view. Recently journalists have wrung the negatives out of stronger-than-expected numbers for retail sales, consumer spending and economic growth, as well as lower-than-anticipated job losses. Despite some economists downgrading recession forecasts the media keep seeing the dark clouds.