Wednesday, December 26, 2007

Gloomy Signs For Holiday Sales

by Staff - December 25th, 2007 - CBS News (AP)

A broad gauge of consumer spending released by MasterCard Inc., which includes estimates for spending by cash and checks, showed a modest 2.4 percent increase in holiday spending, excluding gasoline and auto sales.


"It's a continuation of a slowing trend we've been monitoring for two years," McNamara said.


2.4% GROWTH would have been touted as robust growth during the Clinton Pesidency, especially since they had to exclude gasoline and auto sales to get it that low. Even the minor recession during the last two years of Clinton was explained as a good economy, despite the Internet bubble busting which ended Clinton's lucky economy. The Clinton contribution to that collapse was never mentioned. The press ingored it because they didn't want to hurt Gore's chances in the election.

What is the difference today? We have a Republican President and the MSM wants a democrat elected so they are doom saying everything to make it sound like the world is coming to an end even when things keep moving ahead. Economic growth is slowing but it is still GROWING! It is hard to do grow faster when we have close to full employement.

Total growth, including fuel, shows GDP growing at 3% and core inflation at 2%. Both are good numbers. Trying to convince the American people times are bad is simply proof of what a contemptible group of liars populate the MSM. No matter what the numbers they will be downplayed for all of the next year. 2008 will be doom and gloom until a democrat is elected. Just watch.


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