Here is an excerpt from Doug Casey’s daily eletter dealing with the media and the need to go beyond the headlines or news slants. His newsletter is free for anyone that wants to subscribe. Doug is a no-nonsense, free-market guy who doesn’t hide his thoughts or feelings.
WASHINGTON (Reuters) – New construction of U.S. homes and permits for future building scaled a nine-month high in August, and the number of people filing new claims for jobless benefits fell last week, suggesting a recovery was underway.
But when you read the entire story, you find this…
Housing starts are down 29.6 percent over the past 12 months, the Commerce Department said.
New building permits, which give a sense of future home construction, climbed 2.7 percent to 579,000 units in August. That compared to analysts’ forecasts for 580,000 units. Compared to the same period a year-ago, building permits were down 32.4 percent.
The Labor Department report showed the number of people still on jobless aid after an initial week of benefits increased by 129,000 to 6.23 million in the week ending Sept 5, the latest for which data is available. It was the largest one-week gain since late June.
You can read the article here.
What does it all mean? Maybe that, thanks to the pro-Obama (and therefore, pro-miraculous-recovery) bias of the nation’s media, we really do have the opportunity to smash a contrarian home run out of the park.
From where I sit, it often looks like the mainstream news media has been bought and paid for.
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