With it’s usual cut-to-the-chase crispness, The Drudge Report conveyed the substance of Reuters’s Great Awakening:
“REUTERS: Bailouts may CAUSE a recession…”
Reuters’s own headline (”U.S. rescue efforts may risk double-dip recession“) was less dramatic, but the story showed that its reporter had cottoned on to something the essence of the issue:
U.S. companies, consumers and communities may grow so addicted to government financial help that cutting them off could trigger another recession soon after the current one ends
“Addicted to government financial help . . .” Let’s see, that would be what conservatives mean when the warn about “dependence of government subsidies” wouldn’t it? Further Reuters:
There is increasing concern that when the flow of public money subsides — beginning next year when much of that stimulus package is spent — the economy still won’t be strong enough to stand on its own.
Will that be the point at which we can say “I told you so”?
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2 Comments
1. Rob:Funny thing about that–by the point at which we can say “I told you so,” we’ll all be so broke we won’t even want to.
Mar 3, 2009 - 5:32 am 2. Forbes:Ah, funny thing that stimulus, it isn’t much of one is it? Something like 2/3 is to be expended after 2010, so Reuters even gets that part of the story wrong: “beginning next year when much of that stimulus package is spent”.
Aside from not reporting the news, Reuters can’t even get its facts straight when editorializing–no surprise there.
Mar 4, 2009 - 12:08 pm