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May 16, 2008

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Gene C.

Granted, journos tend to overplay their hands when reporting on economic data. But this business of blaming the media for the malady is by and large unsupportable, because over time the journalists surely get the trend right. It's observational, not causal. The worst example of blaming the media is of course in the housing market, where CEOs of public companies are now trying to blame reporters for their own blunders in overbuilding. By the way, if you want a good read on the econ from Corporate America, listen to purchasing managers and the finance guys. The CEOs are cheerleaders and will mislead you.

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