Forecast For Rhetorical Flurries
Question: why does this happen so routinely? Wages that are up 3% in a period when inflation is running 4% aren't actually up. Spending that's up 3% in a period when inflation is running 4% isn't actually up. This isn't rocket science. (emphasis removed at this end)
While I thought Kev was asking a question he knew the answer to, Yglesias and commentors take a stab at why and mainly miss the vein, though responder number three comes close.
Long time readers here know why, or at least my answer, that the spiritual foundation of newspapers, the reason they exist as historical agents in the first place, is to preserve the cause of retail, a campaign in the broader war of not delivering bad news at all.
Or here where Bloomberg's writers deliver the death letter as considerately as possible:
U.S. Economy: Home Prices Declined at Faster Pace (Update1)
By Joe Richter and Courtney Schlisserman
Dec. 26 (Bloomberg) -- Home prices in 20 U.S. metropolitan areas fell in October by the most in at least six years, raising the risk that more Americans will walk away from properties that are worth less than they owe.
they are thoughtful enough to explain in the next graf:
Values fell a greater-than-forecast 6.1 percent from October 2006, the S&P/Case-Shiller home-price index showed today. The decrease was the biggest since the group started keeping year-over-year records in 2001.
Anyone care to offer the real headline for the story? I'd go with HOME PRICES IN RECORD DROP myself, maybe a bit vivid for a measure which has been made only over six years, but then we are left to wonder which survey would show us how the current result stacks against home sales since, I don't know. . . 1960?
And though this report is from the financial team at Bloomberg, did anyone factor in the inflation rate for that 6.1 percent October figure? I will go out on a limb here and say, nuh-unh.

