Speaking of "Today's economic news":
"When you add it all up, you can't help but be pleased with how the economy performed last year," said Carl Tannenbaum, chief economist at LaSalle Bank. "The economy in 2004, in some cases, was like the Rodney Dangerfield economy. It didn't get a lot of respect. We spent so much of last year worrying about high oil prices, deficits, employment ... yet through it all we were able to turn out an outstanding year economically."
Technically speaking, we had our best economic year since 1999 (2004: 4.4%, 1999: 4.5%)
The article goes on to say:
Quote:
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Still, payrolls in 2004 expanded by 2.2 million, the first annual increase in three years.
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Sometimes I don't get it.
People with little or no training or education regarding economics: "the economy is bad!!!"
People who spend their life studying economics and interpeting data: "the economy is looking up!"
So, for the same year, with the same data, who is right?