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Economic Woe...or No?
Bob Weinstein is a journalist who covers technology, project management, the workplace and career development.
If you’ve been reading the gloomy, pessimistic stories about the state of the economy, you’d think we’ve nose-dived into a recession. A recent front page story in The New York Times painted a picture of doom and gloom. Here are some of the story’s major points:
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Automakers released awful sales numbers for June. They were down 28 percent for Ford, 21 percent for Toyota and 18 percent for General Motors. Plummeting auto sales indicates that American workers are disheartened and disenchanted about the state of the economy.
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Falling home prices have eliminated hundreds of thousands of jobs--from real estate agents and bankers to construction workers and furniture manufacturers.
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Strict lending standards by banks in the wake of huge mortgage losses have made it hard for many Americans to secure credit.
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Brokerage house economists’ forecasts were bleak. Chief U.S. economist for Lehman Brothers Ethan Harris said: “It’s a slow-motion recession…we’re not getting the classic two or three negative quarters. Instead, we’re expecting two years of sub-par growth. Growth that is not enough to generate jobs.”
But the major metro daily failed to do its homework and gather enough information. Even though the government reported that the U.S. economy …
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