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Tuesday, January 29, 2008

Take That, Prognosticators of Doom!

Marketwatch’s Chris Pummer takes careful aim at an AP story about consumer confidence in the US.

Associated Press economics writer Jeannine Aversa referred to confidence falling to an “all-time low” in her first paragraph, a spin that landed the Jan. 11 story on Yahoo’s home page, a prime position for stories to reach millions of readers.

Only at the end of the second paragraph does the reader discover the result is from a Royal Bank of Canada survey begun only in 2002, a survey that is often at odds with highly tracked readings from The Conference Board and University of Michigan.

“If the story said a second-tier survey hit a six-year low, it wouldn’t get any attention,” says Ken Goldstein, senior labor economist for The Conference Board. “It doesn’t pass the smell test and it shouldn’t.”

I love a good take-down.

Which is precisely why everyone should vote for my house band over at the brand new, freakin’ awesome Whiskey in my Sippy Cup. Because I am worthy and hopeful and not at all a prognosticator of doom.

Actually, to be fair, there are a number of really good covers in that mix. 

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