August 07, 2009
A Good Bet, Or A Better View?
NP: The New Pornographers, Electric Version
Last week, when the GDP numbers came out, President Obama stressed in his remarks that the unemployment numbers that would be released today might be a more important measure of how things were going in the economy. At the time, I thought that might have been a risky move. What if they sucked? Well, it turns out that, while jobs were still lost, the numbers were better than expected, and did not, in fact, suck. So either the White House took a gamble and won, or, from their vantage point, they had more confidence in what the news would be than the economists who expected things to be slightly worse. Might be a little bit of both.
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