Reuters in euroland. An adult fairy-tale
We’ve had the jobless recovery. Now we’re getting the profitless growth. Reuters this morning:
Staying strong by slashing prices. Coming back by going bust. Growing sales by losing money. Convincing the sap by printing crap.
The same technique as the Telegraph used in the UK the week before last: a confidence index masquerading as a sales audit. The Markit “good growth indicator” edged down to 53.2 from February’s 32-month high of 53.3.
Surging up by edging down.
“The recovery is gaining traction. One of the particularly encouraging signs policymakers will take from this is that it has broadened out,” said Chris Williamson, Markit’s chief economist, the edging down thing having just missed expectations.
Broadening traction by missing expectations.
Reuters has been accused of bias on many dimensions over the last few years. I think we need to file this load of scrotum filler under “they would say that, wouldn’t they?”
The Slog 