Consumer spending explodes in November...

Consumer spending in the U.S. rose in November by the most in more than two years as incomes grew and shoppers took advantage of early holiday discounts. A bigger-than-forecast 1.1 percent increase in purchases followed a revised 0.4 percent gain in October that was more than previously estimated, the Commerce Department said today in Washington.
http://www.bloomberg.com/apps/news?pid=20601103&sid=aISUBxdFxvBo&refer=news

Hmmm. Incomes up. Spending up. Where's that bleeping recession we keep hearing about?

[Answer: on TV... > ]


Investment Firm CEO: If We Have a Recession, Media Will Cause It

Craig Hester, CEO of Hester Capital Management, who during an interview with CNBC's Erin Burnett and James Cramer Friday spoke an inconvenient truth about media's impact on the economy that folks in the press sadly don't recognize as they disseminate pessimistic after pessimistic predictions often leading to people unnecessarily losing their jobs - or worse:

That's one thing about the economy, Jim. There's a lot of pessimism, and I think we're going to, through the media, if we're going to have a recession, it's going to be media generated as opposed from the economy. Things look very strong from what I can tell.

Thanks, Craig. We couldn't have said it any better.

http://www.businessandmedia.org/articles/2007/20071128154245.aspx