April 29, 2004

FRITZ SCHRANCK has some firsthand observations on the state of the economy. Some of his reporting is from Pawley’s Island, a place where my family used to vacation regularly.

UPDATE: Fritz is certainly clearer than the guys at CBS Marketwatch, where the headline says “U.S. Growth Cools” — but the story tells us that GDP grew 4.2% last quarter as opposed to 4.1% the quarter before. That’s cooling? Apparently it is, when “economists, on average, had been expecting slightly stronger growth.” Sheesh. I don’t think this is political slant or anything. It’s just bad.

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