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The NY Times is busted again:
When the weaker-than-expected preliminary report on gross domestic product was first published in late January, the New York Times featured a story about it on the front page of its Saturday morning business section. The author was left-of-center Louis Uchitelle, a reporter who groused in his story about soft business investment (outside of computers and software) as well as weak export sales to foreign countries.
A month later, however, we have the revision of the GDP report for the last three months of 2004. The new data show a much stronger economy.
The initial estimate of 3.1 percent GDP growth for last years fourth quarter was revised upward to 3.8 percent. Business investment was revised higher to 18 percent from 14.9 percent. Included in this, the rise in non-high-tech business investment outstripped high-tech investment (by 15.2 percent to 13.7 percent, both at annual rates) for the first time since 1994. Private-sector domestic output what Economics 101 students might remember as consumption plus investment (or C+I) came in at an outsized 5.5 percent growth.
So what did the New York Times do with this upbeat economic story? It buried it. Rather than place the news on the front page of the business section, the Times editors shoved it on page B4. Instead of carrying a senior reporters byline, the copy came from Reuters News Service.
I’ve said it before. Mainstream media is no longer serious reporting: it’s an experiment in mind control.
