Reading the usual news I came across a positive economic report. Immediately after reading the report I thought, you must be kidding? Examples of economic "good news" are:
• Jobless Claims now down to 348K. Much better than expected.<--You would be thrilled if we "expected" 500K claims and we only had 348K. I seem to remember 300K max to indicate progress.
• Housing Starts 699K vs. 675K expectation. Plus previous month revised 32K higher.<--once again expectations exceeded are "good news"
• Philly Fed Survey shows a surge in regional activity nicely topping estimates.<--and a third example of "good news", with a "topping estimates" to make it appear somehow different from "expectations"
If we keep our expectations low, we cannot fail! Hey guess what? I "expect" to see no replies to my post, however, if I see 1, I will assume it's "good news" for my blog. The statistics need to be compared to recovery stats or even normal growth stats to have any frame of reference. Sometimes I wonder who pays these clowns to spit out random statistics on “competent” news websites.