The Potemkin Economy: The press has hidden the holes in the economy for months.
The Potemkin Economy
The press has hidden the holes in the economy for months.By Tom Blumer
April 12, 2015
PJ Media
"...The disappointing March employment report the government released on April 3 finally forced the business press to ‘fess up to the truth, best summed up in words found at the Associated Press: ”For months, the U.S. economy’s strength has been flagging.”
That admission takes “too little, too late” to a whole new level.
During the past several months, business scribes and broadcasters have largely pretended that all is well, constructing and maintaining a Potemkin-like facade of a prosperous economy, even as the vast majority of hard-number economic indicators turned in performances ranging from middling to awful. To prop up their false image, they concentrated most of the commerce-related news they delivered to low-information voters and low-awareness news consumers on the job market, the economy’s one supposedly strong area, and positive consumer and corporate sentiment surveys..."
Read the Full PJ Media Article @:
http://pjmedia.com/blog/the-potemkin-economy/
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