Media criticism day continues, with the following NYT laugher: U.S. Inflation Appears to Be Retreating.
The basis of this revelation? Quote: "The numbers could have been worse." As Jeff Matthews would say, "I am not making this up." (I guess I shouldn’t complain too much: At least the Times bothered to include the year over year numbers of +4%).
The dueling headlines of the WSJ and NYT makes for interesting comparisons: WSJ: "Inflation is back" versus the Times Inflation Appears to Be Retreating. We can combine the two to construct this unique viewpoint:
"Inflation, which we didn’t really recognize until it had runaway, is now back. Except its not."
That, I am making up . . .
WSJ: "Inflation is back"
U.S. Inflation Appears to Be Retreating
MICHAEL M. GRYNBAUM
NYT, April 17, 2008